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Predictions for the Cannabis Industry in 2016

We recently provided an overview of the key cannabis events of 2015. As we turn the page and dive into 2016, it’s undeniable that the year is going to be momentous. We asked a few of our friends what they believe 2016 will bring to the wonderful world of cannabis.

cannabis predictions

Image via FreshBooks.com

6 Predictions for the Cannabis Industry in 2016

“In 2016 we will see the legal marijuana business come of age. As we move into the third year of our ‘grand experiment’, we are seeing the creation of some truly scaleable national brands — and with the entrance of the ‘celebrity cannabis brands’ from Snoop, Willie and Marley, that trend will really gain traction this year.”

Dave Rheins
Co-founder & Executive Director
Marijuana Business Association

 

“In regards to east coast states that have initiatives on the ballot for 2016, we anticipate significant investor interest from within the Northeast corridor, as Wall Street Investors are already attempting to corner parts of the East Coast market before established West Coast firms actively pursue this part of the country.

We also expect to see more interest in the industrial hemp industry in 2016, which is a unique opportunity for farming regions within states like Pennsylvania, where agricultural innovation is being welcomed with open arms by regional economic development and investment groups.”

Tyler Dautrich
Founder
Greenhouse Ventures

 

“Women will play a pivotal role in the cannabis industry in 2016. As the world continues to consider marijuana legalization, more women have an opportunity to fulfill their entrepreneurial goals and become leaders of a global community for the first time in history.”

Morgan Kristine
Founder
Cannabis Women’s Alliance

 

“In 2016, we’ll see more sophisticated, insights-driven marketing, that has strategic implications on how a business scales-up for growth. There will be differentiated brands. Customers will be targeted, segmented by need, and purchase cycle if a patient. And, emerging media vehicles will allow a business to reach global audiences more effectively.”

– Karen Freese
Principal & Founder
Freese Branding & Consultancy

 

“Tipping point is reached as California votes to legalize. Big money makes its move and the Feds give in to the inevitable and legalize marijuana.”

– Mike Jaglois
Chief Brand Architect
Canna Ventures

 

“2016 is going to be crazy…in a good way. By the end of the year we’ll have at least 7 new fully legal states including California. The NFL will drop a blockbuster and take marijuana off it’s banned substances list. And as President Obama exits he’ll take executive action to reclassify marijuana to a Schedule II substance and remove hemp entirely.”

– Eric Layland
Founder
Canna Ventures

Do you have a prediction for the cannabis industry in 2016 that’s not mentioned above? Leave it in the comments!