With innovation, there is a possibility of greater CBD product effectiveness and superb product quality. Based on Global Markets Insights Inc., the global CBD market has continuously been rising and will hit $56.2 billion by 2028. With any industry boom, everyone wants to get in on the action. And CBD is no exception. Fortunately, the pie is big enough for everyone, and technology contributes significantly to this success.
The CBD industry is heavily reliant on technology, from seed to shelf. It has led to a boom in the sector, leading to massive success in several ways. Therefore, this article discusses seven ways technology contributes to the CBD market’s success. Let’s get started.
7 Ways Technology Contributes To The CBD Market’s Success
1. Handy CBD Vaping Devices
These days, companies are coming up with small and handy devices rather than big ones. One good example is CBD vaping devices. Their size makes them highly portable — you can take them everywhere. These devices come in several sizes — the choice is entirely yours. It ranges from small to extremely small. You can choose to select your preference. As the dimensions change, so do the prices.
These days, people prefer to buy vaping devices that come in stylish sizes. Additionally, they’ve become more popular with the younger generation due to their discreteness. They no longer have to deal with bulky devices. Instead, they prefer discreet and easy-to-carry devices like vaporizers. It has led to the market offering simple and easy-to-use CBD vape devices like the THC vape pen.
2. E-Commerce Technology
Customer access to cannabis has changed because of web technology. Ordering top-quality cannabis products have never been more accessible. In addition, the exponential growth of the e-commerce business in the cannabis industry contributes to the overall CBD market’s success. The retail online market space provides a different way for cannabis organizations to expand the new purchase medium, which previously had restrictions. By 2025, the cannabis market will reach $166 billion, with more organizations adopting eCommerce platforms for online sales.
Thorough knowledge of seed-to-sale and point-of-sale software streamlines activities for both producers and retailers. Medical marijuana software eliminates manual records, making tracking stocks easier. It is now much easier for retailers to access critical store data.
3. Product Development Contribution
Scientists have studied CBD particles since the 1940s when they identified and separated them from hemp particles. As a result, the potential use of CBD for various physical and mental ailments has often been a subject of groundbreaking discoveries. Similarly, the way people use CBD has grown rather than traditionally partaking in CBD oil; you can add it to your routine in far more discreet ways.
As technology advances, these alternatives offer user-friendly versions such as sprays on the tongue or transdermal patches. Besides tinctures, oils, and topicals, users can also purchase pure CBD vape juice to enjoy vaping on the go.
Although CBD is a type of oil, technology makes it possible for it to be water-soluble. Despite its infancy, this technology can increase a compound’s bioavailability, benefiting the pharmaceutical industry. Furthermore, CBD’s nanoencapsulation will allow several CBD-infused products to be available on the market, including beverages. As a result, businesses now offer differentiated products to serve micro-niches like fitness and yoga. In addition, individuals can now find customized wellness products tailored to their needs.
4. Quality and Personalized Products
Modern technology has customized marijuana use. Hence, a few years ago, the only way to consume cannabis was by smoking it. Nowadays, marijuana technology services enable people to consume the plant in various ways, including oils, sweets, candies, gummies, and other food items. Therefore, finding the right amount of THC and CBD for every product is significant and could be challenging to discover.
Researchers are also working diligently to encapsulate cannabinoids in cannabis to increase the products’ viability because of the different biochemistry of individuals regarding cannabinoids. Using another strain unsuited to your physiological needs can be problematic as a psychoactive substance. Technology can solve this problem by preparing cannabis contents in deliberate and measured ratios.
5. Improved Cultivation and Growth Environment
Cannabis cultivation is a costly endeavor. To begin with, the plants require specialized lighting to grow appropriately. Living in a warm region does not require special lighting, but you do if you live in a cold area. The cost is incredibly high if you grow your plants indoors. High-intensity bulbs are expensive and require investment.
LED bulbs, however, have made a difference through technological advancements. Besides, they are cost-effective and environmentally friendly. Their spectrum is also broader. Moreover, they produce little heat, making them ideal for cultivating cannabis.
6. Better Procurement Methods
Besides offering consumers advanced products, technology also has simplified CBD manufacturing processes. For example, LED lighting systems have proven beneficial for cannabis cultivation. Doing so has subsequently reduced the upfront and operational costs of input, reducing the total cost of production.
In addition, there are precise methods for extracting and separating the active components from a cannabis plant. The oil keeps the valuable terpenes and minerals more efficient, which contributes to it meeting the growing demand for full-spectrum oil. The extraction process is now sophisticated and doesn’t use radiation, so nutrient oils are free from defects. Modern technology makes CBD products of superior quality for oral supplementation and cosmetology.
7. Creating Avenues For Effective Marketing
CBD is a unique product that doesn’t appear to fit conventional marketing strategies. Because of the differences in regulations from state to state, marketers are unsure whether to invest in print media advertising. A limited budget, however, can make digital marketing an excellent option for creating greater awareness. Online and offline advertising can also have restrictions, but social media offers various opportunities, like influencer marketing, that have expanded the advertising scope.
Word of mouth has proven to be an effective marketing strategy. Dedicated forums and blogs have attracted consumers, thus boosting sales. With affiliate marketing, bloggers can promote CBD products for a percentage commission, earning an excellent conversion rate and a minimal expenditure. An untapped market is profit-driven and targeted at CBD businesses that follow the rules online.
Conclusion – 7 Ways Technology Contributes To The CBD Market’s Success
So many aspects of life depend on technology, and the CBD market has benefited from the notable contributions mentioned above. What’s even better: It’s just the beginning. Experts are continuously trying to maximize the efficiency of technology to improve results. Therefore, it’s never too late for CBD entrepreneurs to invest in technology for their business’s success. It’ll soar to unprecedented heights if they deploy the technology today.