The support for cannabis legalization is reaching all-time highs every year as more countries continue to explore opportunities within the cannabis industry. In the early 2000s, approximately 31% of Americans supported the legalization of marijuana. By 2018, six in every ten Americans, or more precisely, 62% said that marijuana should be legalized, according to Pew Research Center’s survey. Not surprisingly, most millennials are in favor of legalizing marijuana compared to other generations. Approximately 74% of millennials advocated for legalization, while 63% of Gen Xers and 54% of Baby Boomers supported the movement. Moreover, politicians have also begun shifting their stances on the matter. The survey highlighted that 69% of Democrats said marijuana should be legal while the Republican party remains split with 45% in favor and 51% opposed. Nevertheless, support among Republicans has risen from just 39% in 2015. The growing support comes as more and more countries and U.S. states continue to move towards legalization whether it’s for medical or recreational use. While medical cannabis is currently more widely available compared to recreational cannabis, the North American region’s recreational market is witnessing substantial growth. And although the U.S. still has not federally legalized cannabis, many speculate that it will follow in the footsteps of Canada and Uruguay in fully legalizing the plant. Overall, the U.S. has established its large market because of its early adoption of the plant, which dates back to the 1990s. Nonetheless, the Canadian cannabis market is still developing and maturing and the two countries are expected to continue to dominate the overall global market. According to data compiled by Mordor Intelligence, the global cannabis industry was valued at USD 14.5 Billion in 2018. By 2024, the market is expected to reach USD 89.1 Billion while registering a CAGR of 37% during the forecast period from 2019 to 2024. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Organigram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Cresco Labs Inc. (OTC: CRLBF) (CSE: CL), Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA).

The medical cannabis segment currently dominates the overall industry in large because of its global reach. Regardless of the split between the medical and recreational segments, the two markets both acknowledge a need for more personalized strains and despite legalization, many consumers still obtain their supply from an unknown black market seller. While it may be cheaper in some instances, consumers have no idea where their cannabis was grown, what it was treated with or even its potency. However, in regions where cannabis is legalized for either medical or recreational use, businesses are expected to provide transparent information regarding the strain. In other words, consumers in legalized regions now know where their cannabis was grown, which specific seed was used, and what artificial products were used to treat it. Henceforth, retailers and dispensaries can also provide the potency and the genetic makeup of the strain. Typically, most strains are hybrid mixes, meaning they’re a mix of both indica and sativa strains. An indica strain may be more appealing to first time users because it provides more of a deep relaxation effect. On the other hand, a sativa dominant strain is more appealing to frequent users because of its cerebral-altering effects. Furthermore, breeders and growers can also alter strains by growing cannabis in a controlled setting. In certain indoor or greenhouse facilities, cultivators can control the humidity, irrigation, air circulation, and even the lighting. By providing the plants with optimal conditions for their growth, cultivators can create healthier products and larger harvests. Moreover, some cultivators have even taken the extra step and have begun to monitor each individual plant to achieve higher-quality buds. The attentive and controlled care for each cannabis plant is most commonly known to create “craft cannabis.” While large corporations can produce tons of cannabis consistently, consumers often want variety. And as a result, more and more consumers are beginning to shift towards craft producers for their specialized cannabis. “There are times when you want comfort, and seek out the same old, McDonalds, or KFC. You know what you are going to get every time you drink a Coke. Big Marijuana could possibly fill this need in time. But, sometimes, you want a different taste sensation, a different retail experience, and that is where the niche players fill a void that gigantic corporations create by virtue of streamlining for a mass market,” said Michael Camplin, Sales Manager at GGS Structures.”

Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT) is also listed on the Canadian Securities Exchange under the ticker (CSE: CRFT). Earlier this week, the Company introduced, “BC Craft Supply Co. Ltd. (“BC Craft”) as the first in its line of nearly a dozen leading craft cannabis brands that aim to rectify Canada’s ongoing product shortage and quality issues. Through its subsidiaries, Pasha is Canada’s first licensed producer exclusively focused on assisting the original cannabis industry in Canada in gaining access to the regulated market through Health Canada’s new micro cultivation licensing regime.

BC Craft is helping Canada’s leading cannabis growers acquire micro-cultivation licences by providing comprehensive support and advice, as well as all necessary testing, processing and packaging to help growers legally bring their products to market. With Pasha’s recent acquisition of Medcann Health Products Ltd. (“Medcann”), a fully licensed, Health Canada approved facility, BC Craft is uniquely positioned to work with the thousands of craft producers in Canada that are now looking to transition into Canada’s new regulated supply chain.

“I’m confident that what BC Craft Supply Co. will be able to contribute to the legal market will set the standard for craft production and supply chain management, not just in Canada but internationally,” said Jason Longden, CEO of Pasha Brands. “Confidence in the brand has already inspired craft cultivators throughout British Columbia and from across the country to join our team, and we’re eager to help solve Canada’s ongoing supply issue with quality cannabis the legal market has yet to see.”

Representing the first wave of Pasha’s industry-shaking craft cannabis brands, BC Craft is a service provider in contract with some of Canada’s best farmers to ensure their timely participation and competitive edge in Canada’s burgeoning legal cannabis market. Spurred by a passion to support small businesses and pay respect to the cultivators that have always been the country’s top choice for quality cannabis, the brand is working to assist in their transition into the market so that consumers can have legal access to legitimate and sought-after ‘BC Bud’ at long last.

With Medcann now part of the Pasha group, BC Craft will coordinate the purchase of craft cannabis from licensed micro cultivators under a supply agreement, kicking off the transition from the unregulated market—where nearly 85 percent of all cannabis sales in Canada still take place—to the legal one. Once micro cultivators are licensed and operational, BC Craft anticipates an annual supply of approximately 50,000 kilograms of cannabis per 100 micro cultivators in its supply chain. Industry estimates place the number of grey market producers in BC alone at as many as 20,000.

With BC Craft leading the charge in Canada to welcome “the other 85 percent” into the legal market, Pasha seeks to expand the reputation for quality that craft producers and prohibition-era brands established prior to legalization in Canada.

SOURCE FinancialBuzz.com