With a wave of medical and recreational legalization occurring, there are now 70 countries with some form of legalization.
The title for the world’s largest cannabis market belongs to the U.S.—generating more than $16 billion in sales in 2020.
While this unique situation leaves a lot of potential money off the table, it also provides lots of potential upside for the industry should legalization trends persist.
This multi-billion dollar market is supported by a robust supply chain consisting of growers, retailers, support systems, and biotechnology companies.
For instance, the Californian market saw 7,000 additional new products in 2020 compared to 2019.
However, non-combustible methods like edibles and vape products have gained traction more recently, with vapes expected to see a 30% rise in sales in 2022.
This can be seen through the average size of cannabis equity capital raises, which has grown 165% from $7.5 million in 2020 to $19.1 million in 2021.
But where does cannabis go from here? Things are moving rapidly, and by 2024, the global cannabis space is expected to be worth a massive $103 billion.
Carlin-type gold deposits contain “invisible” or microscopic particles of gold that are deposited within a mineral called pyrite in sedimentary rocks.
When hot hydrothermal fluids hit these rocks, they dissolve easily, and this reaction deposits microscopic gold within the mineral called pyrite we mentioned earlier.
Additionally, hydrothermal fluids need to contain sufficient concentrations of gold for the deposit to be economically viable.
However, erosion from the ranges covered the valley basins with tens to hundreds of meters of sand and gravel.
The unexplored under cover bedrock area is bigger than the exposed areas already explored, and analysts expect that it contains over 200 million ounces of gold.
Roughly 12% of Americans consume cannabis which translates roughly into $60 billion in sales.
With the upward trajectory the industry is facing, it’s as crucial as ever to understand the modern day consumer.
To elaborate, consumers who earn an annual income less than $49,000 are 20% more likely to consume flower, and 39% more likely to consume pre-rolls.
Alternatively, higher income consumers who earn over $100,000 a year appear to gravitate towards more healthy, modern, and innovative avenues.
But when dividing this up by THC and CBD dominant products, the split grows further apart.
Like in any other industry, it pays to know your customers.