Cannabis Industry

Definition - What does Cannabis Industry mean?

The “Cannabis Industry” refers to all of those activities and professionals that are involved directly or in an ancillary or tangential role to the legal production, transport, sale and consumption or use of medical marijuana, recreational marijuana and hemp as well as all products derived from them. It includes medical personal, legal professionals, policy makers, dispensary owners and employees, cultivators and farmers, individuals and companies manufacturing products with oils and seeds for health and beauty products and all of those that are involved in the transport and handling thereof. As a legal industry, it has only existed in the modern world since the mid to late 1990s and has been growing exponentially since the turn of the 21st century.

Hydrolife explains Cannabis Industry

As a young industry, individuals and businesses involved in the cannabis trade are still navigating their way through various hurdles and bureaucracy that either has not kept pace with the changing laws and attitudes regarding legal cannabis or was never designed for it to begin with, but is in some places, the only framework in place. The industry still lacks some of the basic amenities that other businesses take for granted such as access to banking institutions and legal protection nationwide. In some cases, laws will catch up, in other areas, cannabis industry innovators are forging a new path, such as with the electronic currency specific to cannabis transactions or with numerous platforms designed to link consumers with products without using traditional commerce routes.

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