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Cannabis Business Insights | Monday, April 03, 2023
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Investors, manufacturers, and researchers have noticed the trend as more states and countries abroad legalize cannabis and are working around the clock to capitalize on it.
FREMONT, CA: The continued legalization and acceptance of cannabis demonstrate the expanding potential of the industry. According to Gallup surveys, nearly half of adult Americans have tried cannabis. Over the past few years, over 18 U.S. states and Canada have legalized cannabis for recreational use, making it the most widely used substance in the world. The growing notion is that as more states legalize marijuana, stakeholders will get increasingly involved. Businesses in the cannabis industry are searching for the most effective methods to enhance their operations, emphasizing optimizing production.
Hence, businesses strive to improve cannabis cultivation, production, manufacturing, and marketing. So, what technical developments have resulted from the rising legalization and use of cannabis? This article examines major technical factors associated with increased cannabis consumption in 2023.
Legal and regulatory engineering
Legal compliance is a significant obstacle to cannabis cultivation and distribution. The government requires enterprises to provide information on cultivation, production, shipping, and sales. The relevant government authorities utilize this information to monitor the entire supply chain. The objective is to ensure openness. Yet, gathering, managing, and tracking data is difficult for most enterprises.
As a response, cloud-based cannabis software solutions have arisen to assist cannabis businesses in collecting and analyzing relevant data to assure compliance with legal standards. Additionally, these industry-specific software solutions help cannabis enterprises to define and apply operational standards for the benefit of their organization.
Cannabis cultivation engineering
While cannabis has traditionally been grown outdoors, recent innovations have increased greenhouse-based indoor cultivation. The cultivation of cannabis indoors is more efficient. It permits many harvests per year instead of outdoor cultivation, which is limited by climate and hence may only have one growing season. There are also new soil-based and hydroponic technologies for indoor cultivation.
In soil-based planting, plants are grown in soil, mostly in traditional planters and pots, as well as in the ground. Hydroponics involves growing plants in an inert medium and nutrient-infused fluid without soil. As cannabis tech businesses continue to develop and commercialize cannabis cultivation devices, these new growing technologies are anticipated to increase crop yields.
Medicinal marijuana technology
While medical marijuana has been utilized for the past two decades, the new Cannabis Act expanded medical marijuana access to shops in 2018. The most common uses for medical marijuana are to treat anxiety, epilepsy and seizures, inflammation, and pain. These increased prospects have resulted in the development of more technology to extract medical advantages from cannabis for more medical uses.
Cannabidiol (CBD) technology
In recent years, CBD and other products produced from hemp have been in great demand, and new technologies have evolved to facilitate the production of this cannabis component. It is closely related to the rising demand for consumer goods such as edible CBD oils, which are utilized to produce a vast array of health products. Hemp fibers and cannabis seeds, used in making textiles, paper, biofuels, and cosmetics, are also in high demand.
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