The industries you didn't know weed was infiltrating
We previously reported that big alcohol companies are hedging against a global decline in the booze industry by partnering with cannabis firms for weed-infused drinks.
But, but, but: Beverages aren't the only status quo that legal weed is challenging. Food, fashion, beauty and even paper are seeing cannabis rivals.
The big picture: The global legal marijuana industry is projected to top $20 billion by 2025, writes market research firm CB Insights. And that has unleashed a slew of potential disruptors:
- Beauty and wellness products are incorporating cannabinoid oil, known to reduce post-exercise inflammation and general anxiety. Movie stars already work cannabis-infused lotion into their feet as prep for long red carpet walks in high heels.
- Clothing and paper companies will use start to use hemp in the pursuit of sustainability.
- Cannabis snack-making is becoming a thing, including chocolate cupcakes and potato chips.
Smaller banks are preparing to finance this activity — a move bigger banks might avoid due to risk.