5 Interesting Things You Didn’t Know About Marijuana Making

Unkempt hippies getting high in a disorganized underground economy – this is how the weed industry was painted in the (not too distant) past. But today the new marijuana manufacturing business is growing, and it’s nothing like you’ve ever imagined.

What is weed production?

Weed production refers to the process of obtaining, propagating, extracting, or producing manufactured weed products. This process of weed production can be done either indirectly or directly using extraction techniques, chemical synthesis, or a combination of both. The industry continues to grow rapidly as more consumers begin to understand the benefits of using cannabis products in the fields of health and fitness, medicine, and even beauty.

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As the demand for various marijuana products increases, more investors are showing interest in starting a cannabis business. The entire cannabis industry is thriving, and as this sector continues to develop rapidly, there is a lot of money to be made. If you are thinking of starting a large operation, there are plenty of marijuana processing equipment available that can help you get your business started.

But be prepared. Starting a cannabis business is not easy as there are laws and regulations that you need to consider first depending on the state or country you are operating from. So you should plan this carefully. It’s also best to consult with lawyers first and check with regulators to make sure your company is complying with applicable laws.

For recreational use, marijuana is currently legal in 15 states. But for medical use, it’s legal in 35 states, and that number is expected to increase in the years to come. Traditionally, hashish, flowers, and handmade edibles were the only cannabis goods available to consumers in the underground market. In today’s legal market, cannabis products are available in more forms such as oils, concentrates, cannabis-infused beverages and foods, and products containing tetrahydrocannabinol (THC) such as dry powder inhalers and transdermal patches. No wonder that the number of weed producers is increasing rapidly despite strict government regulations.

But aside from the above facts, there are other interesting things about the weeding industry:

Sales growth is increasing rapidly

With the changes in government laws and the legalization of consumption by more and more states, the market for legal marijuana is expected to skyrocket. In fact, according to Forbes, sales of legal marijuana in the U.S. alone rose 46% in 2020. That surge resulted in an all-time high of $ 17.5 billion, meaning Americans are consuming more weed than ever before.

In addition, several new cannabis companies are doing research and development, testing, and production. In Canada, many regions are awaiting the privatization of retail cannabis stores. Many provinces that used to choose a single supplier are now asking numerous suppliers to submit their offers in order to meet the increasing demand.

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In a recent market analysis report, the global legal marijuana market was estimated at $ 9.1 billion in 2020 and the average annual growth rate (CAGR) is expected to increase by 26.7% from 2021 to 2028 The growing demand for legal marijuana is being driven by the growing number of states and countries legalizing the use of cannabis.

It also produces innovative products

With legalization, marijuana users are eating their cannabis more than ever instead of smoking it. Between January and August 2018, the edible market share in Oregon and Colorado rose to 24%, with sales of other edible products growing even faster. For example, cannabis-infused chocolates in Colorado grew 135% over the same period.

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Edibles aside, many other variations of cannabis products – such as topical oils that are applied to the skin and sublingual dosages that dissolve under the tongue – have grown in importance since legalization, but they don’t make the bulk of the sales in the market the end. Low-dose products for medicinal patients or smokers who prefer a gentler high have also gained popularity. Sales in Colorado grew 83% in 2017.

It makes CBD more accessible

Cannabidiol, or CBD for short, is a type of cannabinoid that is responsible for most of the medicinal benefits of cannabis. CBD can be separated from THC, the main psychoactive component of marijuana, and purified to make oils and tinctures for patients who want to benefit from the drug’s anti-inflammatory and relaxing effects without getting “the high”. In areas where CBD is legal, these drugs are readily available and used as home remedies for anxiety, nausea, chronic pain, epilepsy, and even acne.

It creates employment opportunities

The cannabis business is growing so fast that the number of job opportunities in the industry has tripled since 2016. According to Marijuana Business Daily, the cannabis industry employs between 125,000 and 160,000 full-time workers. A further 340,000 full-time positions are to be added by 2022, which corresponds to an annual growth rate of 21%.

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As the demand for marijuana has increased tremendously, cannabis manufacturers have been able to hire a large number of employees. In 2020, cannabis companies employed more than 200,000 full-time employees in various areas of the medical and recreational cannabis industry, including budget tenders, machine operators, lawyers, and more.

It generates tax revenue

Marijuana sales in Colorado and Washington were higher than in recent years, which resulted in higher tax revenues. Colorado earned more than $ 302 million in medical and recreational marijuana taxes and fees in 2019 based on more than $ 1.7 billion in revenue. According to a study by Arcview Market Research and BDS Analytics, US revenue reached $ 12.2 billion in 2019 and is expected to grow to $ 31.1 billion by 2024.

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A recent analysis by the Institute of Cannabis Research at Colorado State University Pueblo, supported by local evidence, found that more than $ 80.8 million in tax revenue contributed to the local economy can be attributed to the legal cannabis sector. Additionally, according to a study by New Frontier Data, an accredited cannabis analysis firm, federally legalized marijuana could generate $ 105.6 billion in additional tax revenue by 2025.

Take away key

The legalization and regulation of marijuana use paved the way for the weed manufacturing industry to become one of the fastest growing companies in recent years. And as more countries begin to embrace its true benefits beyond recreational use, the industry will only keep growing and expanding to reach more consumers with countless innovations.

This article originally appeared on Cannabis.net and was republished with permission.