One of the biggest threats facing CBD companies? Survival. CBD is already projected to hit over $16 billion in sales by 2024, so it's not surprising that there are over 3,000 brands in the market, hoping to ride the wave of success and reap the rewards.
The notion that cannabis may cure, treat or prevent COVID-19 makes some people roll their eyes. But the scientific uses of the cannabis plant do not surprise those of us who’ve worked in this industry for many years. And the scientific community appears to be gathering data supporting the notion that cannabis may be beneficial in preventing COVID-19.
The designation of the cannabis business as essential caught some states and some state officials off guard.
It was a classic watershed moment when 20 of the 33 states across the U.S. that allowed some form of sale and consumption of marijuana had those businesses designated as essential businesses in March during the early days of the coronavirus outbreak.
Scaling a business is always a high-stakes endeavor, but the risks are magnified in the hemp and cannabis space, where every business is in perpetual startup mode and regulations vary from state to state, week to week.
Just because it’s difficult doesn’t mean it can’t be done.
The perfect catch-22? The current legal status of cannabis prevents the clinical trials necessary to meet lawmakers' demands for more research.
Always the topic of great debate, cannabis science needs firmer foundations to be able to boldly uphold its value. Conflicting studies and claims have flown around for decades, but a different picture arises when consistent standards are applied.
And what the industry can do to ensure regulation in the near future.
It's been over a year since the 2018 Farm Bill legalized the commerce of hemp and CBD. Yet, CBD is still not regulated as a dietary supplement by the FDA.
This may come as a surprise to many people who’ve already incorporated CBD into their lives. Among the 14 percent of Americans who use CBD, most believe those products are FDA regulated.
Pennsylvania cannabis dispensaries recorded a 70% increase in weekly patient visits from February to August, which fully encompasses COVID-19’s spread throughout the United States.
Legal marijuana could become less of a strain on Colorado's environment if the pot industry embraces a new set of waste removal and packaging rules — but not without a three-way tug-of-war between saving money, preventing black-market sales and encouraging environmental sustainability.
There has never been a more crucial time to automate your cannabis operation. With the COVID-19 crisis settling in for the long haul, businesses are starting to think about how to increase efficiency and profit, while operating a facility safely and comfortably for workers and managers.
As the cannabis sector becomes more competitive, the margins get tighter, and the manufacturing and production environment encounter new challenges, businesses must embrace automation to survive.
Need convincing? Here are the top five reasons to automate your cannabis business now.
Cannabis has become one of the most innovative and disruptive industries globally with rapid growth potential, and thanks to a more progressive legislative approach in Europe, investors are now plowing millions into the nascent cannabidiol (CBD) market.
