The CBD industry has been a growing trend in the recent years, with many people trying to get their hands on various CBD products. Thanks to its medical and therapeutic benefits, also to more US states legalizing cannabis.
By 2022, the US consumer sales of CBD products are expected to rise to 1.8 billion dollars which is almost half a billion dollars more than the sales in 2018. With the 2018 Farm Bill, hemp growing, both small and large scale is legal across US states.
The Impact of Technology Advancements in the CBD Industry
While the CBD industry is growing on its own, key industry players are tapping technology for innovation. The latest technology advancements are mostly beneficial to CBD producers and suppliers, which will surely impact the way companies create their products and maximize the benefits of the plants.
Here, let’s take a look at the advancements that are pushing the CBD industry forward.
How AI is Changing the Future of CBD
Artificial intelligence has been a game changer for countless industries, including the CBD market. Big players in the industry are now leveraging big data and AI to grow their consumer base and predict market outlook. In a data-driven world where technology is everywhere, it’s no surprise that AI is changing the CBD industry.
Data helps every industry move forward and compete in the future. Allowing most businesses utilize technological resources, tap social media channels and reduce marketing costs. AI provides CBD companies unlimited data that they can utilize for scientific and commercial purposes and give them a better chance at competing in this competitive market.
Quality Tracking
CBD consumers expect legitimate representation on every CBD companies where they buy products and with the use of software development in creating tracking programs, it is now easy to provide accountability. The uses of these tracking programs are to provide as much details as possible to consumers, including where and how the plant was grown and it was processed.
The idea of these programs is to provide consumers with accurate information about the product that they want to try for better decision making. Having this program installed in a store is definitely a major selling point as it boosts consumer confidence and transparency, ensuring accountability from suppliers, processors and producers.
In case of information about a product’s regulation, these programs can also ensure that companies are legally complying and not breaking the law.
CBD Extraction Technologies
High-quality CBD oil extraction is a must to be able to become a key player in the industry. The purest CBD extracts must be used to produce premium CBD products where users can get maximum benefits. There are different ways to extract CBD from the plant, from rudimentary methods or using ethanol and olive oil to more advanced extraction methods such as the widely known carbon dioxide extraction.
With the use of technology, companies developed a promising extraction method called ultrasonic extraction or sonification. This method can do targeted isolation of the desire compounds using ultrasonic waves to break through the cannabis plants.
Using the technologically advanced ultrasonic extraction, the purified oils extracted from the plants can be processed into a stable nanoemulsion, which according to studies helps increase bioavailability to how much our body absorb the products.
Final Thoughts
As the CBD industry continue to develop at a fast pace, consumers expect more technological advancement to emerge. Science and cannabis industry will definitely lead the way to advance the industry.
It will be exciting to see how the industry will evolve in the next few years and how CBD companies like MrHempFlower will adopt.