It is not a secret that the cannabis industry is at an all-time high. Companies are making record profits while states, where it is legal, are gaining from tax revenues, additional jobs, and lower crime rate.
The surging sales of CBD products mean relaxed regulations and warming public perception about marijuana use. Naturally, this leads to emerging trends in the cannabis industry.
Increase in scientific research on cannabis
According to Forbes, one of the things that are becoming more prevalent since the interest in cannabis has picked up is scientific research which revolves around the plant.
Because cannabis is now known to contain medical benefits, scientific research, and studies done to maximize its effects or find out its other uses have increased lately. With the increased information on how cannabis can be efficiently produced and manufactured, companies are doing their best to implement the industry’s best practices.
One of the companies which focus on cannabis cultivation is Future Farm Technologies Inc. (OTCQX:FFRMF). It is currently studying how new techniques and methods such as the use of LED lighting, mobile applications, and vertical farming solutions are going to improve not only cannabis farming but also the quality of its yields.
Another company making a name for itself in this area is HempAmericana, Inc. (OTCPK:HMPQ) It owns one of the biggest extraction machines today. It recently collaborated with a hemp farm to cross-pollinate high-grade hemp plants with other variations of hemp plants. Additionally, HempAmericana is also in talks with a water company to produce a technology that can incorporate CBD with water molecules.
The company announced that it is now looking into tapping international distribution partnerships to take advantage of the popularity of cannabis products abroad.
“This is one of the reasons we have moved so rapidly to ramp up high-capacity production activities early this year. Domestic demand growth is booming, but so is the export potential. We plan to be a major player on both levels, and to be the market leader in potency and quality along the way,” says HempAmericana CEO Salvador Rosillo.
With the industry getting saturated with companies wanting to venture into the lucrative cannabis business, it is important to grow your business and create a niche. HempAmericana is trying to do this with water infused with CBD, which when successfully done, could be one of the industry’s first.
Production of high-end cannabis products
Another trend today is producing high-end cannabis products. This is similar to what happened with liquor brands before when expensive tequilas, sake, and vodkas became all the rage. Diego Pellicer (OTCQB:DPWW) is claiming its stake in this area. It offers high-end dispensaries and premium products such as gold rolling papers.
Government’s recognition of marijuana’s potential
Last, but not the least, is government realizing the true potential of the marijuana industry, starting to ease regulations, and legalizing it. Cannabis Now reports that the federal government can earn as much as $132 billion in annual tax revenue due to legal marijuana. This additional fund can go to community projects such as education, feeding the homeless and infrastructure. Education campaign drives or livelihood projects involving CBD products can also benefit from this.
If cannabis industry continues its surge, especially in sales of CBD products, soon, more states will start realizing its potential and begin revising amendments to legalize marijuana for medical and recreational use.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.