Cannabis has become one of America’s fastest-growing industries thanks to the green revolution, and the epidemic has only aided its cause. Cannabis is currently legal for recreational use in 18 states and medical use in 38, which explains the fast proliferation of cannabis brands across states in the last five years.
According to BofA Securities, cannabis sales in the United States would climb by 40% to $25 billion in 2021. While this isn’t as great of an increase as the 67 percent increase in 2020, it easily outpaced the $18 billion in sales.
Resilient CBD companies, among other things, have contributed the most to the boom, but celebrities tend to be the ones making the most noise, and for good reason.
“Having such celebrity power behind a young and fast-growing business is a terrific thing,” Rakine says. “But, at the end of the day, there’s a lot more to this game than celebrity endorsements and involvements.”
Any industry that grows at the rate of the CBD sector requires a big capital input. Fortunately, most celebrities, at least those who have embraced the green movement, do not lack wealth.
Some of the greatest celebrities, like Snoop Dogg, Seth Rogan, Jim Belushi, and John Legend, have invested millions of dollars in the sector. While some, like Rogan and Snoop, have built profitable CBD companies from the ground up, others, like John Legend, have substantially invested in established brands.
“Running a CBD business requires a lot of money, especially if you’re in charge of the full value chain, from cultivation to processing. More money in the industry is surely responsible for not only the quality of items on the market but also the quantity of brands available “Rakine expressed his thoughts.
It’s possible that the most well-known CBD supporters in America are celebrities. The steady brands that have been grinding for years and producing real products and honest enterprises are still the core of our sector when the curtain is lifted. It certainly helps to have some well-known individuals on the squad; it’s a win-win situation for everyone.
