The U.S. cannabis market has been improving

Since 2021, there have been enough research reports on the cannabis market by various LED plant light vendors. Many businesses have invested in the production of cannabis lights, which has provided information on the progress made in turning industrial hemp into a commercial commodity over the years. Some insights. There are genetic differences between industrial hemp and hemp. The THC content of the former is less than or equal to 0.3%, and the THC content of the latter is between 3%-15% by weight. We are talking about industrial hemp here. Industrial hemp is a very important market and a very large industry. We can use hemp to facilitate life and make life more economical.

Industrial hemp is legal

Now that industrial hemp is legal, there seems to be some opportunities since 2021. The first method is to grow hemp in the United States and sell it at a price that competes with imported Canadian hemp to replace imported hemp. The second opportunity will be to increase domestic cannabis production in the United States and reduce the cost of cannabis, so that cannabis cultivation is seen as a more ideal alternative to other investments. Then some evaluation agencies in the market will give accurate figures, and the $700 million market will grow to 70. Billion dollar market. This largely depends on whether farmers are willing to choose to grow industrial hemp.

An article in the Wall Street Journal last week mentioned that “hemp can thrive in rocky soil, and rocky soil is not suitable for other crops.” It implies that “tobacco growers can use hemp as a Planting new potential sources of income while giving up tobacco cultivation.” Let's talk about farming hemp again.

The reality is that the current US cannabis product sales are relatively small, nearly 700 million U.S. dollars per year. You may ask, "If marijuana is illegal, how can there be a market for marijuana products in the United States?". This is because the U.S. market relies heavily on imports, including hemp products and raw materials for further processing. Canada is the largest importer of hemp in the United States, accounting for about 90% of annual imports. (About 30 of the 192 countries in the world grow hemp, and China is the largest producer and exporter of hemp. What are the hemp products being sold in the United States? What are its challenges and opportunities?

Challenges facing the U.S. cannabis industry

We all know that industrial hemp has great potential in the United States, but its infrastructure and supply chain are not in place due to the impact of regulation. The report mentioned that some of the current challenges include:

Rebuilding the agricultural supply chain

Create varieties with modern attributes

Upgrading harvesting equipment is important

Modern processing and manufacturing

New market opportunities since service

There also seems to be some kind of conflict of interest here. Considering how we will feed the growing world population, any farmland that is used to grow hemp can be used to grow crops that can be used to "save the planet." Regardless of this concept, we already have 25,000 acres of industrial hemp being cultivated. Before we seek to scale up, we need companies that help hemp to be processed into usable forms or even finished products.ren