The extraction methods for CBD are currently — and some say will continue to be — the deciding factor in catching and maintaining a specific corner of the lucrative and growing marijuana industry.
Competition is heating up to provide the best vape cartridge, considering the product is the best one for consumers based on ease of use and flavour. For those who want to stand out in the process, it is necessary to provide better quality and a superior taste, rather than artificial or clearly manipulated offerings.
En route to the success they crave, extractors have a few factors to weigh to reach that plateau; namely, the cost of extraction equipment, basic material costs and combining those and other related expenses to get an idea of an overall budget for production.
Some businesses, in an effort to get ahead of this recognized need and the expenses that will be related, have purchased new extraction and manufacturing facilities, with the intent to significantly expand production abilities. Meanwhile, business focus also may be split towards processing hemp to provide extracts for product creation, especially since hemp was legalized across the U.S. thanks to the 2018 Farm Bill.
California is already looking at an adjustment to their current legislation to address the incorporation of hemp-based extractions to the current market and availability of cannabis products.
Efforts to refine extraction are well underway in Canada, although it is a new process to businesses within the country’s borders. Officials say that a newly introduced method focuses on scalable batches, while using multiple at the same time rather than focus on one alone. The method provides opportunity for multiple test runs and maximization of the output of said batches, all while minimizing the loss in each set of batches.
For businesses in both Canada and the U.S., the industry is new and continues to expand, allowing both time and incentive to focus on growth. The purchase of new extraction facilities and the effort to find new and better methods will lend themselves to continuing current successes in the future. With the significant explosion of revenue potential in the marijuana industry, proactive moves now are the way for these businesses to go.