With Americans home more the rise of stress all around the cannabis industry is not only ‘essential’ but on the rise.
No other industry has transitioned like the cannabis industry. During political turmoil and national confusion, the American people made it known that cannabis was not only a leisure substance but an essential item in a global crisis.
Cannabis attorney and industry expert Ken Hwang – also the Co-Founder and Chief Executive Officer of My Green Network (MyGN) – shares the top 2020 market trends to watch.
Looking ahead through the end of 2020, Hwang expects to see innovation in the following:
Creative Cultivation Practices
Rather than a broad, commercial approach, growers are trending toward smaller-scale farming designed to achieve a specific outcome. This allows for more operational control, including the fast adoption of new techniques for preserving the plant, resulting in a higher quality, specialty product. For example, one cultivator in Northern California harvests only on the full moon, believing this helps with the curing phase. There are cultivators that are also specifically cultivating “extraction gardens,” meaning the specific strain/type of cannabis is specifically grown for extraction machines. Certain flower types are great flower, but after extraction the flavor profile is too intense and can be too pungent or spicy. This is due to the extraction process because during extraction you are concentrating the terpenes and cannabinoids, for example flower has 30% potency, while extracts have 65-75% potency.
A Greater Focus on Collaboration
Consumer education and knowledge about the applications of cannabis products is essential to the growth of the industry. Platforms like MyGN, which foster collaboration and the sharing of ideas within the cannabis community, will be key to success. Prime example is the evolution of flowers and extracts. Flower used to be around 20% potency, now the potency is around 30%. Extracts started with shatter (BHO process), then CO2, then distillate, now the craze is live resin. All these evolutions are the byproduct of collaboration and sharing ideas.
A Growing Catalog of Cannabinoids
In addition to CBD and THC, we will begin to see products featuring other cannabinoids (the essential chemical compounds within the cannabis plant) such as THCV, THCP, CBN, CBG, and CBC, along with more information about how they affect the body’s endocannabinoid system. Platforms like MyGN, help to support this trend by providing a legal and compliant pathway for entrepreneurs to get their products onto the dispensary shelf. This is where the real cannabis market lives. Consumers are also becoming more aware of the rigorous testing that the State requires for products to be on dispensary shelves, which is measured in parts per billion (ppb), and trust that products found in a dispensary are safe and legal.
Nano-emulsion – the transformation of cannabinoids such as CBD and THC into water-soluble molecules – holds great potential for the food and beverage industries. CBD beverages are already hitting the market, offering desired physical effects without the “high.” As the year progresses, we will likely see more of these options coming to market in nearly every possible form, from nano-infused coffee and sodas, to snacks and desserts. The value with nano-emulsion is absorption rate (much higher), which results in more efficacy.
The boon for producers is less amount of THC is required, yet the consumer gets a more potent product, a win-win. For entrepreneurs seeking to harness these market trends, MyGN offers a fully compliant cannabis facility that serves as a workspace, an extensive network of cultivators and manufacturing partners, and the essential elements of guidance from industry experts. The first shared space opens in July 2020 in Orange County – an epicenter of cannabis innovation – providing both direct access to the most profitable cannabis markets and exciting lifestyle options. Due to state regulations, spaces are currently limited to 30 businesses, so now is the time to join MyGN and “go green the way you want.” Simply choose from four customizable membership types, complete an onboarding call, and start creating your very own CBD or cannabis line.
Visit www.MyGreenNetwork.com to learn more.