The cannabis industry is relatively one of the new guys on the block, despite its existence for several years at this point. As legal measures continue to go into place around the U.S. and in various parts of the world, cannabis has become one of the most exciting markets of the modern day.
Throughout the market, there are several key factors that are leading innovation in the industry. These factors are some of the biggest updates that we have seen and should help to cement marijuana’s place as a leading commodity for the future.
One of the biggest keys to the future of the industry is the shifting of agricultural technology to help produce more and higher quality cannabis. Since legal marijuana is now becoming a reality in a large portion of the U.S., Canada and abroad, many companies are working to figure out how they increase their yields, while still offering high-quality products to their consumers.
Some of the changes have been updates to lighting technology, including new ways to monitor and track lighting conditions. Additionally, the use of tissue culture has become quite groundbreaking as it allows for hundreds of plants to be created from a single source tissue.
This helps largely with the scalability of a grow operation as well as the sheer amount of cannabis that a company put out. Additionally, tissue culture helps to lower the cost of the final product since it takes a lot less to grow one plant.
Another large eye opening factor of the marijuana industry is the fact that many companies have begun to focus solely on the existence of medicinal cannabis and not on recreational products.
Because of this, we have seen a large uptick in the amount of vaporizing technology, as well as pharmaceutical grade oils and tinctures for sale on the open market. These oils and extracts allow patients to consume their cannabis without worrying about the issues of potency or repeatability in dosages. Both of these products are used throughout the medicinal cannabis industry, and the need for new medicines continues to spark more innovation.
One of the key issues in the marijuana industry is that of payment processing and how money is dealt with. As far as the U.S. goes, it is increasingly difficult to run a successful cannabis business due to the federal illegality of the substance. Because of this, companies are not able to get loans and receive access to normal banking services that any other legal company would get.
This has made paying employees, keeping money safe and other factors quite difficult. New methods, however, are coming out that are allowing for better and different ways to process payments and receive the services that a business needs to function in the modern day. All of this is helping consumers and businesses alike make it big in the cannabis world.
All in all, these updates continue to offer new and heightened boundaries for the marijuana market. With innovation at every turn, it seems as though this is just the beginning of what could continue to become one of the larger and more exciting markets in the U.S.