The cannabis industry is a set of legal producers, consumers, independent bodies that set industry standards, ancillary products and services, regulators and researchers related to cannabis and its industrial derivatives – hemp. The cannabis industry is limited by laws and regulations. The legal market emerged as more and more states began to regulate its use by law.
As the global benefits of cannabis treatment have been recognized and increased, there has been a growing need for highly qualified products to make the market supply better and more reliable. As it is growing rapidly, the cannabis industry could be the most profitable and successful industry. CBD could become a product of the future, which would significantly affect the economies of many countries.
Many countries restrict the use of this plant by their laws, in order to prevent abuse, but also on the other hand, in order to protect domestic producers. The global cannabis market is around $ 150 billion, while it is estimated that by 2028 it will be $ 272 billion. According to the United Nations, 3.9% of the world’s population are users of cannabis, both recreational and medical.
Today, the country that is the largest producer on the world market is the United States, with an annual crop growth of as much as 30%. Forecasts are that by 2020, the year will end with production of $ 30 billion. They are followed by Morocco (although the use is illegal, they are the largest suppliers of the European market), Afghanistan, Mexico, Colombia, Paraguay, Jamaica, Canada, Nigeria and India.