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These 3 Sectors Look Set to Experience Explosive Growth Over the Coming Decade

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Looking into the future can be a trying endeavour, but here are three sectors that look as though they’re set for some explosive growth over the next decade.

Cannabidiol — or “CBD”

While there was certainly a lot of “euphoria” and hype around the anticipated legalization of cannabis for recreational purposes, close to nine months later, as the mania of the “green rush” is starting to wear off, it’s beginning to look more and more like CBD might be underdog story of the year.

Rather than consuming marijuana, or cannabis, to get “high,” users of CBD do so for a much different reason.

Consuming products that contain high concentrations of CBD, whether by vaporizing, smoking, gel, capsule or oil, doesn’t result in the same psychoactive feeling that’s typically felt when consuming cannabis products that contain lower amounts of CBD and higher amounts of THC, the other major chemical compound present in the cannabis plant.

That means that common sufferers of everyday ailments like depression, anxiety, sleeplessness and inflammation can get the medical benefits of CBD as a healthy, natural alternative without having to deal with any unwanted psychoactive side effects present in more conventional marijuana products.

Charlotte’s Web Holdings Inc (TSX:CWEB) is unique in that specializes in cannabidiol, or “CBD,” and doesn’t actually sell any medicinal or recreational marijuana or marijuana derived products.

Instead, Charlotte’s Web is focused on the production and distribution of innovative hemp-based cannabidiol or “CBD” based wellness products designed to promote various health benefits exclusive of any unnecessary or unwanted psychoactive side effects.

Shares in CWEB are up more than 34% in this week’s trading so now might be as good a time as any to be taking a look into this lesser known, and potentially underappreciated cannabis stock.

Sports gambling

Late last year, according to the news, it appeared as though the U.S. Supreme Court was set to reverse a previous ruling that had banned gambling on sports.

It wasn’t long before that the excitement and anticipation began to build amid speculation that the U.S. Supreme Court decision would soon pave the way toward an avalanche of applications from states looking to legalize gambling in hopes of capitalizing on the tax revenues it would generate.

It’s still going to be some time before the “Big Four” North American sports leagues fully come around to the idea but if and when they do, a company like Stars Group Inc (TSX:TSGI)(NASDAQ:TSG) almost certainly stands to be one of the beneficiaries.

Stars recently inked a major deal with Fox Sports (owned by parent company Fox Corp) to launch a property slated to be called FOX Bet, the first-of-its kind national media and sports wagering partnership in the U.S.

Stars is wagering that it can leverage its existing relationships with poker and online gaming fans and get them hooked on the fun and excitement of sports gambling.

E-Commerce

It’s interesting to look at the growth of e-commerce in light of the aforementioned expectations for the burgeoning cannabis and sports gambling industries.

After all, who would have thought that just a few years ago, when Shopify Inc (TSX:SHOP)(NYSE:SHOP) came to market with its initial public offering (IPO) in 2015 that its share price would go on to gain 1800% in just the three-and-a-half years since?

At the time, we knew that e-commerce and online shopping were growing rapidly, but there was so much we didn’t know for certain about how things would turn out and which companies would emerge victorious years later as distinguishable market leaders.

But the fact that Shopify stepped up to the plate and delivered for its devoted shareholders should be a lesson that sometimes it pays to take a chance on the future.

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Fool contributor Jason Phillips has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Shopify and Shopify. Shopify is a recommendation of Stock Advisor Canada.

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