The humble cannabis seed has come a long way. What was once seen as the harbinger of trouble is now seen as a source of effective medical relief. Governments are slowly but surely working toward legalizing it and independent cannabis producers, especially those whose main focus is home caregivers, are looking at various expansion opportunities in the future. Experts at Tiki Madman, one of the top CBD seeds producers in the United States, are keenly assessing new opportunities as they prepare to enter 2022. Here are some of their insights.
Legal challenges
Although the CBD industry has come a long way since it was legalized in the United States, there’s still a lot of groundwork to be covered. The experts state, ”It’s still not easy for most CBD companies to obtain capital and standard services from banks and other financial institutions. The market is still relatively ignorant about what cannabis really is. Old habits and ideas die hard. However, stronger and swifter action on part of the FDA can change things.”
Growth is imminent
Before the passing of the farm bill of 2018, such certainties would have been hard to imagine. However, according to the experts at Tiki Madman, the span of three years has delivered enough change and brought to the fore enough potential in the product and its demand to make 2022 look like a place of high promise. ”The market is projected to be somewhere between $15 billion and $20 billion by 2024-2025. If that’s the forecast for a few years from now, we see no qualms in predicting that 2022 will lay the foundation stone for this just as the last three years have enabled us to channel the market and mobilize demands that were almost non-existent before 2018.”
Big names will make an entry
Tiki Madman experts are quite positive about the growth of the industry in 2022, leading them to believe that ”several big names will enter this market. All smart businesspersons can see it’s just a matter of time that the CBD industry becomes one of the powerful driving forces of the US economy. It could be giant start-ups or even independent billionaires who will feel the pull of this new industry.”
