After the legalization of marijuana products, technology has played a big role in the CBD industry. It is a fact that the CBD industry is growing faster than companies can harvest the plants.
Researches by reputable financial firms show that by 2022, the CBD industry will be worth more than 22 billion dollars. Wall Street experts estimate that within a decade, the industry will be worth at least more than 75 billion dollars.
A 2018 bill played a big role in removing hemp and other marijuana-related products from the list of controlled substances. That brought about the introduction of cultivation and legal commercialization of
cannabis-related products. Here are several ways technology has influenced the CBD industry.
Technology-driven cannabis farming
The boom in the CBD sector has spurred an influx of technology in using new and advanced technologies when cultivating the plants. Technology is needed when farming cannabis plants to keep up with the demand. Scientists have come up with revolutionary biotechnologies which make sure that cannabis plants grow fast and effectively.
Those technologies also ensure that the quality of plant that is grown by farmers and companies is of high quality which makes it possible to produce high-quality CBD products.
Better quality CBD products
Individuals and companies are now using technology to cultivate stronger strains of cannabis plants. It is well known that whenever you ingest any cannabinoid product, only 10% of the concentrate is absorbed by the body. However, farmers and companies are making use of technology to encapsulate the chemicals found in cannabis plants to improve the efficiency of the CBD products.
If the cannabinoid molecules are encapsulated, they can overcome cell membranes, which ensures that the cannabinoid compound is not filtered. Therefore, most of the cannabinoid compound is preserved during the cultivation process of the cannabis plant. It is worth remembering that the more effective your CBD products are, the more clients you will get.
Data science and big data are the future of online marketing, and CBD products have no exception. Using AI, it is possible to gather a lot of information regarding CBD customer buying habits and preferences. Using that information, you can know which products to improve, products to remove from your portfolio, as well as understanding which products have the highest demand in the online market.
Artificial intelligence has also played a massive role in helping scientists and marketers collect data which they use in analyzing commercial trends as well as using it for scientific reasons. Right now, the internet is flooded with information regarding CBD products.
If you can invest in AI, you will gain valuable information that will help your CBD business get an advantage over the competitors. The essential thing to understand is that if you have access to market data and customers’ purchase habits.
CBD products are not as cheap as you might think. The cost involved in extracting the product is labor intensive and involves a lot of hours. The CO 2 extraction process is known for its notoriety. To optimize the extraction process, many manufacturing companies use rosin press.
The rosin press heats and cools the cannabis plant product to provide an excellent compound. There have been studies in improving the rosin presses, and it is good to note that there are promising developments that will improve CBD production capabilities.
To sum it up
The CBD industry is developing at a very fast pace. Technology will continue to influence the industry for many years to come. Innovation-driven by science will continue to influence the CBD and cannabis industry. However, technology will play a big role in determining how the CBD industry will perform in the future.