The world is constantly evolving, changing, and adapting. Yet, the past two years have demonstrated just how resilient the world is. Despite a global pandemic that has killed 4 million people, world markets and economies didn’t succumb. Indeed, economies shook to their core, and specific sectors have borne the brunt, but global business remains strong.
For all the capitalist growth sectors that dominate national markets, futures, and trades, relatively new concepts continue to grow at an exceptional rate. Some are a little less desirable than others, and others might seem risky at best - but they are all seemingly part of the future of the world’s economy.
The Legalization of Cannabis
A controversial subject, to say the least, cannabis and its derivatives are becoming more prevalent in developed nations. Most prominent in the United States and Canada, the American legal marijuana industry is currently worth $61 billion, with an expected growth rate of over $90 billion by the end of the year.
As such, and similar to the smartphone accessory industry, it isn’t only the central product itself that generates vast revenue. Just as the smartphone industry that sells accessories such as phone cases is worth $10 billion globally, legal cannabis accessories like the joint case, grinders and the hookah is a growing market, currently estimated at just over $3 billion.
Rising Cryptocurrencies
You have undoubtedly heard of Bitcoin and possibly Etherium. But you may not be aware that there are 4,000 active cryptocurrencies in operation all over the world. Crypto is essentially a decentralized and encrypted digital currency that facilitates completely anonymous transactions. Therefore, since Bitcoin first came to the public’s knowledge following the massive expansion of the Silk Road drug-selling website, they have had a terrible reputation in the past.
While almost all cryptocurrencies other than the top 10 are almost entirely unheard of, they offer value as they play an essential role in the future of global finance. Many of them have no official backing, yet investor activity indicates their prominence. Essentially, established traders are pouring money into various digital currencies in the hopes of it becoming the next Bitcoin owing in part to the extreme unpredictability of the world’s biggest digital currency.
Synthetic Meats and Alternatives
As the vegan movement sweeps the world, the case for reducing meat consumption is far more substantial than a lifestyle choice. At the same time, there is fierce debate about whether plant-based foods can offer the same health benefits that meat can. But meat isn’t entirely off the table. Advanced technologies and modern marketing movements make it possible to produce no-harm meats while reducing land usage by up to 99%.
The revolutionary startup, Eat Just, manufactures lab-produced meats that are grown from a single cell. For example, one chicken breast cell can produce thousands of identical chicken breasts. Additionally, the exceptionally hygienic conditions of such development eradicates the chance of any animal-associated diseases. And with a global pandemic in full swing, this looks like an exceptionally desirable market.
To sum up, there are several new sectors across many of the world’s emerging markets. The United States has legalized cannabis in many states, resulting in an industry now worth over $60 billion. Cryptocurrencies are also more prevalent than ever. But with the unpredictability of Bitcoin, there is a case for thousands of others to take prominence. Finally, in a world concerned about sustainability and shrinking land availability, courageous and innovative companies guide the meat production industry. Because of a controlled environment, lab-grown meats are extraordinarily healthy and can reduce the land required by 99%.
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