The growth of the cannabis economy has fostered the growth of different sectors involved in the cannabis industry. Cannabis has gone beyond just enjoying cannabis flowers in joints and pipes. Different varieties of products have emerged that are prompting the exponential growth of the global cannabis market. As a matter of fact, the cannabis industry is projected to rise to $145 billion by 2025 thanks to the rise of different aspects of the industry. The industry is on pace to meet or even exceed this projection as more legal markets are being opened in different regions across the United States.
The growth of the industry has seen a shift in focus from just cannabis flowers to new and exciting cannabis extracts. This arm of the cannabis industry has very optimistic projections as more cannabis users are opting for cannabis extracts for different reasons. There are different factors that are promoting the competitive profile of cannabis extracts and we will be looking into some in this article. These factors are the driving forces pushing the expansion of cannabis extracts. It should also be noted that they are reducing the market share of cannabis flowers while increasing that of cannabis extracts. Read on as we carefully explain the 5 competitive forces driving the expansion of cannabis extracts.
Safety has always been a major issue with smoking cannabis flowers through joints and pipes for different reasons. Cannabis flowers tend to have pesticide contamination during the growing process. These dangerous contaminants if not properly attended to can cause great damage to consumers. Cannabis extracts on the other hand give a safer product following extraction of the oil from the flower. High levels of pressure and temperature are used during the extraction process which gets rid of biological contaminants and other contaminants that may come with the cannabis flowers. This is why different states are putting strict standards for cannabis extracts to ensure they protect public health.
Vaping cannabis extracts have also proven to be safer than smoking cannabis flowers. Carcinogenic smoke is inhaled while smoking cannabis flowers causing irritation of the lungs due to harmful toxins in the smoke. This is why more cannabis users are tending more towards cannabis extracts as they give a higher degree of safety compared to cannabis flowers.
Cannabis extracts are consistent
Cannabis extracts are consistent and reliable in terms of the composition of products. This is not the same with cannabis flowers whose composition varies continually. The use of automated instruments for the extraction of oils with special processing procedures ensures the consistency of products in terms of composition and dose. The composition and dose of cannabinoids are very important because cannabinoids profile and dose determines the effect of cannabis. Cannabis has a biphasic property which means it can give one effect at a normal dose and the opposite dose at a higher dose. This is why the consistency of cannabis extracts is very useful and important.
Instruments used for extraction allow the manufacturer to combine cannabinoids and terpenes which helps to control the composition of the final products. This promotes homogeneity of products, unlike cannabis flowers where regulation of THC content in the final product is difficult.
Cannabis extracts have a wide and growing range of medical benefits
The uniqueness of cannabis extracts already has different cannabis firms and pharmaceutical companies looking into the different medical applications of the extracts. The pharmaceutical industry particularly has devoted a lot financially to research and development concerning medical uses of extracts of cannabis. This has prompted different researches that are forming the backbone for the growth of medical marijuana. The isolation of extracts has proven to be important as it helps to identify the individual uses of some of the extracts and their uses in combination. Cannabigerol (CBG) is an example of cannabinoid derived from oils and it is known to have anti-inflammatory activity. CBD is another example that is effective in dealing with anxiety-related issues. The expansion of medical benefits of cannabis extracts is considerably driving the expansion of cannabis extraction.
Cannabis extracts give consumers a wider range of choices and products
With cannabis extracts, consumers have more choices due to modifications done to the extracts. The taste of the extracts can be modified as well as the texture. This ensures that the final product is tapered to the desire of the consumer. This effect has been maximized by players in the cannabis extract sector to foster its incorporation into different other industries. Cannabis extracts are used in foods, cosmetics, and medications. This ensures that a wider array of consumers are reached with a wider array of products available. Retailers, manufacturers, and marketers are keying into this opportunity in cannabis extracts thereby promoting the expansion of the sector.
Cannabis extracts are more acceptable socially
One major issue faced by cannabis users is the stigma that many people attach to cannabis smoking. This creates unease and doesn’t make the cannabis experience convenient especially in public. Cannabis extracts cause less of such issues as they can be enjoyed comfortably in public with less stigma. Vape pens are more acceptable in public compared to smoking joints. They are less conspicuous and convenient to be used in the public without risk of harassment. Vape pens also ensure privacy for the user, a luxury that cannot be assured with cannabis flowers.
Cannabis extracts also exist in other forms such as tinctures, capsules, food, and beverages. The presence of such varieties of products further increases the acceptance of cannabis extracts relative to the stigma shown to cannabis smoking.
The cannabis industry is skyrocketing and it doesn’t take much to know that taking advantage of this growth is highly important. Though cannabis flowers are quite popular conventionally, cannabis extracts are slowly sweeping through the industry and carrying many along. The driving factors explained above are just some of the reasons why cannabis extraction is seeing the growth it has seen in recent years. This upward trajectory can only get stronger as there are numerous benefits to be harnessed in cannabis extraction.
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