The growth rate of the CBD industry in recent years has been nothing short of astounding. In fact a 2020 projection by Wall Street indicated that the CBD industry would grow to more than $22 billion by 2022, so we can rightly assume that the number has grown even more. The number is projected to hit $75 billion over the next decade.
With consumer demands changing, businesses have had to adopt their businesses to suit the evolving market needs. Most of the growth is attributed to the introduction of new regulations across the world that have seen a wider acceptance across different demographics. The growing demand is also down to more people learning about the benefits associated with CBD products.
However, these are not the only reasons why the CBD industry has seen a boom. has been a major contributing factor to the positive advancement. In this article, we look at some of the different ways that technology has impacted the CBD industry.
1. Hemp Farming
Farming is an intensive task that often involves a lot of tedious work. With technology, farmers can streamline farming and improve the efficiency of some tasks and processes. The CBD industry has benefitted from machines and farming equipment that accelerate processes such as planting and digging. However, it does not end there. Some hemp farms have now integrated RFID tagged plants and biometric security systems.
Farmers now have access to state of the art instruments and systems that can help measure different aspects of the farming environment such as soil, water, and air purity. The integration of air conditioners, dehumidifiers, barometers and other types of monitoring systems have taken the guesswork out of the process of drying harvested hemp flower and turned it into a science characterized by accuracy and precision.
2. CBD Extraction
The process of extracting the beneficial components in hemp flowers is, perhaps, the most dependent on technology. During the extraction process, undesirable plant materials are separated from the desirable compounds such as flavonoids, terpenes, and cannabinoids.
There are different extraction techniques involved, all geared towards creating different CBD products known as concentrated and extracts. It is thanks to this process that you can buy Delta 8 gummies in their purest form like those from Joy Organics. You can easily make some concentrates by hand and hash is a good example. However, improvements in extraction methods and technology have led to the rise of more varied and complex extracts.
High-tech extraction equipment often attracts a higher price tag. You can also find simpler extraction equipment but they often require a team of engineers and consultants to manipulate the calibration and operate the equipment to get the best product.
3. Artificial Intelligence and Augmented Reality
For most people, AI, AR, and machine learning are alien like technology. However, these technologies have infiltrated the CBD industry and left a huge impact. In modern hemp farms, farmers take advantage of big data and AI to improve cultivated soils, monitor inventory and plants, gain insight into market trends and streamline workflow.
Augmented reality is mostly used in marketing and advertising. AR allows businesses to access an exciting approach to retail, modeling, and presentation. These technologies have presented a paradigm shift in the CBD industry changing what was once an illegal culture into a trendy health endeavor.
4. Testing and Quality Assurance
The CDC requires that any product meant to improve overall health and wellbeing be subjected to thorough testing to ascertain safety for human consumption and CBD products are not any different. As more people look to reap the benefits of CBD products, the need for testing and quality assurance continues to grow. More consumers are now aware of the likelihood of contamination of products derived from hemp and cannabis plants thanks to the ease of accessing information.
With tech improvements, manufacturers can now conduct exhaustive tests on raw materials and the finished products to ensure that they comply with the set safety standards. As a result, they can easily create products that are free from contamination to guarantee their safety and efficacy.
As technology keeps improving, it is possible that we could see the rise of technologies that allow manufacturers to carry out real time tests on their products and instantly identify safety concerns. This will make it easier to identify potential problems and address them before the product hits the shelf thus improving the safety and reliability of their products.
5. Automation and Mass Production
Cutting costs has always been the goal of any business and that is the case with CBD manufacturers. Technology has made this vision realizable by allowing producers to scale up their production capabilities thus generating more output within short periods. Automation has also made it possible for manufacturers to turn to large-scale production making them more accessible and cost effective than before.
With automation, producers can also produce consistent batches of CBD products at a higher speed and efficiency. It is thanks to this that you can get your desired products in bulk and enjoy huge discounts. As a result, CBD products have become more accessible to consumers across the world.
6. Improved Market Research and Data Collection
The CBD industry is likely to continue growing well into the future due to the work put into continuous research. Most CBD companies have integrated Big data into their operations making it easy to access necessary information. With this information, they can easily make data driven decisions regarding sales and marketing.
Access to information also ensures that businesses in the CBD industry can channel their resources into targeted advertising to support their survival even with growing competition. Both CBD manufacturers and hemp plant farmers can invest in the most suitable techniques as they have better access to information regarding the latest technologies. Marketers in the CBD industry can make positive progress with the help of big data and Artificial Intelligence.
Endnote
Technology can revolutionize any industry and that is the case with CBD. New improvements have made it easier to grow business in this field. The key to success is to find what works for your business and invest your time and resources in it. Regardless of what the future holds for the CBD industry, it is common consensus that technology has a vital role to play.
