- Legal sales in the cannabis industry will reach $24.5 billion by 2021.
- Luxury cannabis products will be a major part of this boom.
- Here’s what six marijuana experts have to say about the new trend poised to sweep the industry.
Not everyone involved with the $10 billion legal cannabis market in North America has to grow the plant to make money. There are hundreds of companies making money without growing marijuana.
In 2017, I interviewed Jeanine Moss, the founder of AnnaBis Style. Her company sells aroma-controlling, high-end accessories for women like clutches, cross-body bags, and waist bags. She also sells cannabis traveling guides for women for Denver, San Francisco, and Los Angeles.
“I saw we had no beautifully designed and useful products for women in the cannabis industry, and I know that women’s needs are not being addressed,” Moss told me.
As the cannabis industry grows 145% from $10 billion in sales in 2017 to $24.5 billion by 2021, there’s going to be new markets that form within the marijuana industry.
From what my inside sources told me, luxury cannabis products are going to be the next big thing.
And investors who spot trends before they become mainstream can make the biggest long-term gains…
The Next Big Thing Is Luxury Cannabis Products
When I spoke with the experts, a backdoor investment strategy emerged…
Think of what Apple Inc. (Nasdaq: AAPL) has done for the tech business. It’s known for its impressive hardware, but it all starts with beautiful packaging. Opening a new Apple product is an experience, and luxury cannabis brands could replicate that same feeling Apple products evoke with the right packaging.
The 4 Cannabis Stocks to Buy Now: Profits of up to 1,000% could be likely this election year!
That means companies that specialize in cannabis packaging and design could experience a boom in sales.
And the first expert we talked to has a bold prediction…
Derek Riedle is the publisher of Civilized, a premium digital media and lifestyle brand that offers an honest reflection of today’s cannabis culture.
The next expert I spoke to said we’re also going to see more businesses focus on becoming luxury brands.
Ray Schiavone is the co-founder and CEO of Tahoe Hydroponics Company, or “Tahoe Hydro,” an award-winning cannabis cultivator located in Carson City, Nevada. It’s owned and operated by two families that have been cultivating world-class cannabis for generations. Tahoe Hydro won the 2016 and 2017 Jack Herer Cup, taking home first place for best indica, sativa, and hybrid flower.
With high-end brands also comes the need for specialty marketing…
Erik Knutson is the CEO of CanCore Concepts Inc., specializing in medical cannabis manufacturing consulting services. These services include facility layout and design, equipment specification, standard operating procedures, extraction, compliant packaging design, and license application support.
This expert says the next growing market within the cannabis industry could be beauty products. In 2015, the U.S. beauty and personal care market was worth $76 billion.
Robert Fireman is the CEO of MariMed Advisors Inc., a national consulting and management firm that provides total solutions for the design, development, operation, funding, and optimization of legal cannabis cultivation centers and dispensaries.
The next expert I spoke with said the early players in high-end products for the cannabis market who establish themselves now could have an advantage over new entrants.
Jordan Friedman is the CEO of the Zodaka payment platform, the safest, most reliable high-risk payment system on the market. Via its cutting-edge platform, Zodaka is able to provide 100% domestic payment processing without reserves, chargebacks, high fees, or risk of shutdown.
Finally, one expert believes there will be a luxury market for cannabis itself.
Mikel Alvarez is vice president of retail operations at Terra Tech Corp. (OTCMKTS: TRTC), the largest publicly traded cannabis company in the United States.
Aside from this expert insight, I also had to make sure you learned about how to access the details about a new profit opportunity in the $10 billion cannabis industry…
This $1.3 Million Profit Opportunity Is Unfolding at the Ballot Box
U.S. President Donald Trump’s recent earth-shattering announcement to support ending the federal ban on marijuana sent shockwaves throughout the legal cannabis industry.
And with a record 16 states voting on legalizing marijuana this November, it’s clear that the industry is headed for historic heights.
But this news has the potential to spark even bigger profits than what we’ve seen already… and could help you turn a small stake into a $1.3 million fortune.
About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.To get full access to all Money Morning content, click here.
Disclaimer: © 2018 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.