Cannabis is known as one of the oldest plants, used by various cultures and civilizations since 6,000 BC, proof of which are the archaeological remains of ceramic vessels decorated with hemp ropes that have been found in recent years.
Its global expansion was inevitable, reaching every corner of the world and becoming what it is today, an industry with excellent financial potential. Some years ago, misinformation led cannabis to be catalogued as a dangerous drug, but today, the diverse uses and benefits that this plant has for society, and the fundamental role that it can play in the development of humanity in different areas, are once again being recognized.
Nowadays, more than 30 countries have legalized the therapeutic use of cannabis extracts. It is estimated that at least ten more countries will join up in the coming years. And although Uruguay, Israel and Holland have been pioneers in this regard, perhaps the legislative changes in two of the world's economic powers, the United States and Canada, are responsible for the current boom in the cannabis industry.
It may also be partly due to the pressure to scientifically advance the results that prove the therapeutic benefits of different derivatives. Therefore, we can affirm and conclude that the rise of this industry is largely due to the conjunction of scientific, social, political, and economic interests.
The industry is also exploring other applications of cannabis far beyond therapeutic or recreational use, including the manufacturing of textiles, some construction materials and cosmetics, as well as products for human consumption. In fact, there are already numerous items for human consumption on the American market that contain some of the non-psychoactive components of cannabis, mainly cannabidiol, such as creams, oils, flours and even candies and soft drinks. A great step forward in such a short time and one that will create different opportunities and challenges for society.
With this breakthrough in the market, cannabis opens up endless new opportunities for all businessmen, entrepreneurs, and people involved with the industry. With the increase in business, the possibility of international expansion is a reality that brings economic, social, educational, and even medical benefits.
Another great opportunity that will unfold would be the one for the scientific community involved in research on cannabinoids, who is currently severely limited by the scarcity of companies in the field, that with investment would be able to develop research, creating an increase in corporations and companies, as well as new jobs that could benefit society as a whole.
Just as opportunities are created, so do challenges arise. Due to the exponential growth of the industry, the expectations that have been created around the plant and its therapeutic and social benefits will force politicians in different countries to create new reforms and laws that encourage the integration of different industries to the medical sector. In addition to creating an educational system to instruct citizens on the proper use of the plant and therefore avoiding the risks associated with its misuse.
And if there is any doubt about the economic development of the cannabis industry, there are already financial companies that estimate an annual growth rate of 16% for the next few years. A percentage that invites people to learn more about the subject and how the industry can benefit them individually and socially.