Scruffy hippies getting high in a disorganized underground economy — this was how the weed manufacturing 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. So, want to stump your friends who consume, here is a little marijuana manufacturing trivia!
What Is Weed Manufacturing?
Weed manufacturing refers to the process of yielding, reproducing, deriving or preparing, manufactured weed products. This process of weed manufacturing 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 are beginning to understand the benefits of taking weed products in health and fitness, medicine, and even beauty.
Subsequently, as the demand for various marijuana products increases, more investors are showing interest in starting a cannabis-related business. The entire weed industry is flourishing, and as this sector continues to develop at a fast pace, there is lots of money to be made. If you’re thinking of going into a large-scale operation, there are many marijuana processing equipment available that can help you kick-start your business.
But be prepared. Starting a weed business is not easy, as there are laws and regulations that you have to consider first depending on the state or country you’ll be operating from. So, you might want to plan this carefully. It’s also best to consult with lawyers and check with regulating bodies first to make sure your business will be compliant with the laws in place.
For recreational use, marijuana is currently legal in 15 states. But for medical use, it’s legal in 35 states, and these numbers are expected to grow in the coming years. Traditionally, hash, flower, and handmade edibles were the only cannabis goods available to consumers in the underground market. In today’s legal market, weed products are available in more forms like oils, concentrates, cannabis-infused drinks and foods, and products containing tetrahydrocannabinol (THC) like dry powder inhalers, and transdermal patches. It’s no wonder why there’s a sudden increase in the number of weed manufacturing companies regardless of strict state regulations.
But aside from the facts cited above, there are more interesting things about the weed manufacturing industry:
Its Sales Growth Is Rapidly Increasing
Since the changes in government laws, with more states legalizing its use, the market for legal marijuana was projected to skyrocket. And true enough, according to Forbes, legal marijuana sales in the U.S. alone went up by 46% in 2020. This increase led to an all-time high of USD$17.5 billion, which means Americans are consuming more weed than ever.
Furthermore, several new cannabis firms are pursuing research and development, testing, and production. In Canada, many regions are anticipating the privatization of cannabis retail outlets. Many provinces that formerly picked a single supplier are now asking numerous vendors to submit their bids to meet the increase in demand.
In a recent market analysis report, the value of the worldwide legal marijuana market was appraised at USD$ 9.1 billion in 2020 and is anticipated to have a 26.7% increase in compound annual growth rate (CAGR) from 2021 to 2028. It can be said that the growing demand for legal marijuana is driven by the increasing number of states and countries legalizing the use of cannabis.
It Produces Innovative Products Too
With its legalization, marijuana users are eating their cannabis more than ever, rather than smoking it. Between January and August 2018, the market share of edibles in Oregon and Colorado increased to 24%, with sales for other edible products growing even faster. Cannabis-infused chocolates, for example, grew by 135% in Colorado during the same period.
Aside from edibles, many other variations of cannabis products—such as topical oils applied to the skin and sublingual dosages that dissolve beneath the tongue—have gained traction since legalization, but they don’t account for the majority of sales in the market. Low-dose products for medical patients or smokers who prefer a softer high have also grown in popularity, with sales in Colorado increasing by 83% in 2017.
It Makes CBD More Accessible
Cannabidiol, or CBD for short, is a type of cannabinoid responsible for the majority of cannabis’ medicinal benefits. CBD may be separated and purified from THC, marijuana’s major psychoactive component, to create oils and tinctures for patients who want to benefit from the drug’s anti-inflammatory and relaxant effects without getting ‘the high.’ In areas where CBD is legal, these medicines are readily accessible and utilized as home treatments for anxiety, nausea, chronic pain, epilepsy, and even acne.
It Creates Employment Opportunities
The cannabis business is expanding so quickly that the number of employment opportunities in this industry has tripled since 2016. According to Marijuana Business Daily, the weed industry employs between 125,000 and 160,000 full-time workers. By 2022, it is anticipated to add another 340,000 full-time employments, representing an annual growth rate of 21%.
Weed manufacturers were able to hire a large number of people now that the demand for marijuana has increased tremendously. In 2020, cannabis firms have employed more than 200,000 full-time workers in various areas of the medicinal and recreational cannabis industries, including budtenders, machine operators, legal clerks, and more.
It Generates Tax Revenue
Marijuana sales in Colorado and Washington have been higher than in recent years, resulting in increased tax revenues. Colorado earned more than $302 million in medicinal and recreational marijuana taxes and fees in 2019 as a result of more than $1.7 billion in sales. According to a research by Arcview Market Research and BDS Analytics, sales in the United States reached $12.2 billion in 2019 and are expected to rise to $31.1 billion by 2024.
Backed up by local evidence, a recent analysis from Colorado State University Pueblo’s Institute of Cannabis Research found that a contribution of more than $80.8 million in the local economy can be attributed to the legal cannabis sector because of tax revenues. Furthermore, according to a study by New Frontier Data, an accredited cannabis analytics firm, state-legalized marijuana may produce an additional $105.6 billion in federal tax revenue by 2025.
Key Takeaway
The legalization and regulation of marijuana use paved the way for the weed manufacturing industry to become one of the fastest-growing businesses in the last few years. And as more countries begin to accept its true benefits beyond recreational use, the industry will only continue to grow and expand to reach more consumers with countless innovations.
If going the family Thanksgiving route, these gatherings can sometimes be stressful, especially when dealing with relatives you don’t see often or navigating potentially tense conversations. Marijuana can help reduce anxiety and create a more relaxed atmosphere. Microdosing is a popular trend with the younger generations, and it could be helpful in during the holiday. Numerous studies have demonstrated that cannabinoids such as THC and CBD can effectively reduce anxiety. By helping to calm nerves and ease social tension, cannabis can contribute to a more pleasant and harmonious family gathering.
It has been a rough few months for the cannabis industry…could Big Alcohol help during another rough patch?
The cannabis industry was worth $33 billion in 2023 and is filled with mom and pop businesses. With the majority of the population having access to legal marijuana, consumer use is up, states are filling their coffers, and more patients are using medical marijuana. It has become so mainstream, even the staid AARP has acknowledge a signifiant portion of boomers are using it for medical reasons. But federal restrictions are crippling the industry, despite the growth. The industry needs federal help, can Big Alcohol help the cannabis industry. Alcohol is in a majority of grocery stores, restaurants, hotels, resorts, planes and homes. They understand the consumers and sell $260 billion in booze a year, not counting the second level market up. The alcohol industry spends over $20 million annually on lobbying, a drop compared to the $220+ million pharmaceutical spends, but an impressive amount. But Congress, the DEA, and members of the administration are not fans…and help is needed.
Alcohol has a $14+ billion investment in the industry and has a voice in the Congress. Cannabis is a brand and revenue extension for alcohol rather than a competitor. A major change in the beverage industry came with the introduction of purified waters by PepsiCo (Aquafina) in 1994 and Coca-Cola (Dasani) in 1999. Seeing it as way to reach more consumers and revenue, the two soda giants are now the owners of the top two bottled water companies in the North America. WIth a stake in the outcome, the big liquor companies could guide Congress to open up more for cannabis. This would provide both industries access to more customers and more revenue for everyone, including government entities.
“While alcohol and cannabis can play in the same sandbox, we more often see consumers using cannabis as a replacement for more harmful substances like alcohol. In cannabis, we find a paradigm shift—entertainment and relaxation without the costs of alcohol’s physical and social tolls.” shares Jesse Redmond, managing director at Water Tower Research, LLC.
Like bottled water, alcohol could open up markets to an additional set of consumers. They have the expertise and relationships most cannabis businesses lack. Already, hemp beverage are in mainstream retailers like Total Wine (Texas) and in convenience stores.
The incoming administration has few cannabis champions with both the Speaker of the House and the President of the Senate and the cabinet doesn’t seem to be focused on marijuana legalization at all. But the majority of members are a fan of booze and that can be used to marijuana’s advantage.
Both would benefit from product development, producing and marketing cannabis-infused beverages and edibles. From a marketing point of view it also makes sense consider the consumer reach. In addition, research shows that people often pair cannabis with alcohol rather than replacing one with the other. The proportion of consumers pairing cannabis with spirits or liquor increased from 12% in 2018 to 22% in 2022. The next 14 months will shape the cannabis industry path for years to come, let’s see if Big Alcohol plays a role.
The holidays can be festive, fun and heartwarming – but for some, there is too much family drama….microdosing could make it better.
Carols, gifts, parties, festive meals with favorite foods are all part of hte holiday season. But even in the best circumstances, there could be stress. Some 89% say concerns around money, missing loved ones and anticipating family conflict cause them stress at this time of year. But roughly have say it is moderate and may not be any more than the rest of the year. While family tend to provide a positive effect, if you look at Reddit, there are are plenty of causes of drama during hte holiday at gatherings. For those who are experiencing some level of stress, can mircodosing help manage holiday family anxiety? It could be a better solution than a half of a bottle of booze.
Microdosing marijuana can be an effective way to manage holiday anxiety, offering a subtle yet impactful approach to stress relief during the festive season. By consuming small amounts of cannabis, typically between 1 to 2.5 milligrams of THC, individuals can experience the therapeutic benefits without feeling overly intoxicated.
Microdosing cannabis can provide several advantages for those dealing with holiday-related stress. Low doses of THC can activate the endocannabinoid system, potentially leading to decreased stress levels without causing an overwhelming high. This can be particularly helpful during family gatherings or social events that may trigger anxiety. It may alleviate the effects of social anxiety, allowing individuals to feel more relaxed and confident in social situations. This can be especially beneficial during holiday parties or family reunions.
Small amounts of cannabis can boost mood and social confidence, contributing to a more relaxed and enjoyable holiday experience. Another benefit is may induce deep, natural sleep patterns without excessive grogginess, helping to combat short term holiday-related insomnia.
To microdose marijuana effectively for holiday anxiety, consider the following tips:
Start Low: Begin with a dose of 1 to 2.5 milligrams of THC and maintain this dosage for at least three days. If you’re new to cannabis, begin with an even lower dose and gradually work your way up.
Gradual Increase: If needed, slowly increase the dosage in 1 mg increments until you begin to feel the desired effects.
Consistency: Once you find an effective dose, stick with it for at least four days to assess its impact.
Choose the Right Product: CBD-dominant strains or products with balanced THC:CBD ratios may be more suitable for anxiety relief.
Consider Terpenes: Look for cannabis products containing terpenes like limonene, pinene, and beta-caryophyllene, which have stress-relieving properties
Timing is Key: Plan your microdose schedule around holiday events or stressful situations to maximize its effectiveness.
While microdosing can be beneficial, there are some general precautions. Consider potential interactions with alcohol or other medications you may be taking during the holidays. If you are some medications, it is important to talk to a health professional. And remember everyone reacts differently to cannabis, so what works for others may not work for you.
By incorporating microdosing into your holiday stress management strategy, you may find yourself better equipped to handle the pressures and anxieties that often accompany the festive season. This approach allows you to potentially benefit from the calming effects of cannabis while maintaining clarity and function during holiday activities and gatherings.