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Cannabis Tech—a Growing Industry




Cannabis Tech—a Growing Industry

Consumers nowadays are lauding the many products derived from cannabis, from health and wellness items to food. In California and Denver, people can take cooking classes that focus on cannabis edibles. Vice’s “Munchies” even published a cookbook last year containing recipes containing weed.

What used to be just a smoked substance has now branched out to food tech and other industries today. It’s because, over the years, cannabis became increasingly known for its therapeutic and medicinal benefits.

Far from just getting a “high” from it, consumers are now aware of cannabis being used to treat various conditions like nausea and pain. It is also used to treat epilepsy, glaucoma, and a slew of other health issues based on limited studies conducted over the years.

Cannabis and CBD

Retailers and innovators alike have caught on with the trend, which is why cannabis products can now be found anywhere. In food tech, recipes have long moved on from the classic weed brownies. From home-cooked meals to snacks, cannabis-infused food flourishes.

Modern science enables people to chemically separate two significant compounds from the cannabis plant, which are CBD and THC. Although both of them have alleged therapeutic properties, THC or tetrahydrocannabinol is best known for being the psychoactive compound in cannabis. It is responsible for the high in marijuana.

CBD or cannabidiol, on the other hand, does not have a psychotropic effect but can still have the same analgesic and anxiolytic properties as THC. This has made marijuana more appealing to users since users can now enjoy the substance minus the intoxication it used to cause.

However, it should be noted that most of the therapeutic benefits users associated with cannabis still lack scientific proof. There aren’t many statistically significant studies and related reviews that would back such claims.

This lack of evidence is the main reason why marijuana is still included in the federal list of controlled substances under Schedule 1.

Widespread popularity

CBD and cannabis products are still mostly unfounded, but it does not hinder the enthusiasm that companies possess for such products. Its popularity is extensive, from pet care items to skincare creams and edibles. States that legalize the use of cannabis even have such products on display at big retailer stores, pharmacies and groceries Like Walgreens and CVS.

Brightfield Group released a forecast study that shows how the cannabis industry may grow to become a $23B empire in 2023.

Other big brands like Molson Coors Brewing and Coca Cola are also looking into entering the booming CBD industry. Despite the lack of scientific studies, businesses are hopeful of the profits that it can generate.

Regulation issues with the FDA

The Food and Drug Administration is still struggling with providing clear regulations regarding CBD, confusing businesses, and consumers alike. Since every state has its set of rules, notwithstanding the different municipal and federal laws, most CBD and cannabis products are unregulated and therefore varying in quality.

Doubts in quality prompt the FDA, and as well as pharmaceutical experts and doctors, to raise concerns regarding such products. Some companies take advantage of confusing regulations by publishing unfounded claims about their products. There are also instances when the CBD and THC level they declare is less or more than what is actually in the product.

All of these things mean that consumers don’t know what they are actually getting.

Regardless of how the FDA is carefully navigating through the matter, their attention to CBD is telling of how significant the substance is. It looks like CBD and the cannabis industry is here to stay for a while.

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