Innovations within the cannabis industry in 2021

Marijuana is slowly but steadily gaining traction across the world due to legalization for both recreational and medicinal use. Far ahead is the legalization for medicinal use shown through its positive effects on cancer, Alzheimer’s, epilepsy, multiple sclerosis and many other ailments. Many people’s perspective of marijuana is changing and with continued legalization, more and more people are jumping on the cannabis train.

Due to growing popularity, different trends are affecting the industry.  Technology is creating new ways to consume and produce the herb. There is a constant need for innovation to match the pace at which the industry is evolving. Today you can find advanced technology incorporated in marijuana tools and devices that allow marijuana users to enjoy their cannabis more. From grinders to vaporizers, these items can make consuming cannabis easier and even better. Brands like MagicVaporizers offer these products that will take your smoking experience to another level. Now more than ever, it is easy to get the device of your preference in just a few clicks.

But where will the cannabis industry go from here?

If you are new to marijuana and are green about some of the trends that are playing a big part in how the industry is moving, this is the article for you.

Topicals

Most people that hear of marijuana probably heard that smoking joints is the most common way to consume it. We see it in the movies and maybe in our neighborhoods but innovation has made sure that it is not the only way. One of the growing ways to consume marijuana is through topicals. The reason they have become so popular is that they are a convenient alternative if you want to apply it directly to your skin. While there is demand for it in the luxury skincare niche, it is most popular for those trying to relieve their soreness. Topicals typically come in the form of creams and lotions.

Evolving growing methods

The days of growing marijuana in secret or on large farms with government licenses are now becoming a thing of the past. With farmers looking to capitalize on limited space, water and energy resources, different methods of cultivating are taking center stage in the marijuana industry. Some growers are moving into the indoor cultivation space with methods such as crop steering which optimizes production yield by manipulating growth conditions and feedings. This helps the plant produce foliage and stems in vegetative growth that supports rapid flower production. This method can be applied at any stage of marijuana growth. In order to capitalize on space, some growers are practicing vertical growing as well.

Light and water are important for the growth of marijuana. Technology in water such as Aqutonix increases marijuana yield while limiting water use. Additionally, LED lights are becoming a great alternative for lighting that can be adjusted to suit different conditions that allow increased THC and terpenes production.

Tourism for cannabis

Since cannabis is not legal everywhere, it has opened up tourism opportunities. Marijuana enthusiasts travel to different states or different countries to legally enjoy the herb and other herb-related activities that may not be acceptable in their areas. One of the people capitalizing on this is Mike Tyson, who has a ranch that has become a tourism spot. Other activities include festivals, art events, loungers, clubs, weed tours and cannabis getaways that offer visitors a great time away from the restrictions elsewhere. Legalization of marijuana increases tourism which adds to the revenue streams that a country or state can benefit from.

Cannabis payments and blockchain

Due to the bad reputation that marijuana has always had, it has been a major challenge for businesses and growers in the industry to access banking services. Since the legalization in some places, banks are becoming more open to marijuana businesses by offering bridge loans that have favorable interest rates. Scaling such businesses requires capital that they do not usually have on hand but with the slowly changing attitude of banks, this is becoming an option.

Blockchain is already being used in many other industries and the marijuana industry is not slacking on taking it up. Blockchain offers a secure and automated way to process payments. Since blockchain is less limiting than banks, it is gaining popularity within the industry.

Conclusion

Trends influence the way activities are conducted within any industry and the marijuana industry is no newbie at these effects. Topicals, new growing methods, tourism and payments through blockchain and banks are some of the trends that are steering the industry forward to greater heights. With continuing legalization and acceptance of marijuana across the world, there will be more trends.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Scroll to Top