An overview of the Cannabis Industry
Looking to get a better grasp of compliance and operational efficiency in the legal Cannabis world? Download our latest whitepaper today. We take a deep look at the costs, metrics, and laws that drive this quickly evolving and diverse industry, in an easy-to-read format.
The world of cannabis is running. Fast. As of 2021, 35 states have legalized the medicinal use of cannabis, with recreational use legal in 11 states. The global cannabis market is estimated to be valued at USD 20.5 billion in 2020 and is projected to reach USD 90.4 billion by 2026!
The market is primarily driven by factors such as growing medical applications of cannabis and increasing legalization of cannabis and rise in social acceptance of cannabis. North America accounted for the largest market share in the cannabis market owing to the increasing legalization of cannabis for both medical and recreational purposes across the region. However, one of the restraining factors in the growth of cannabis market is complex regulatory structure to produce and use cannabis. These issues range from local and state governments regulation of grow facilities, to accessing investor capital, even down to creating a reliable benchmark for base product values. It even includes the way agencies research and select compliance standards.
So many different stakeholders are eager to pin down better data from cannabis operations. The legal cannabis landscape needs a reliable compass to navigate through to reach higher profits, lower costs, and exceptional product quality. This is where Quantumleaf comes in, providing a wide range of business solutions for cannabis organizations.
There’s an old saying that goes “Show me the numbers.” The more numbers to show, the better. The benefits of having lots of accurate and precise data across your company’s operational model are numerous. They allow you to reduce your supply chain costs and achieve and surpass your company’s market goals. Robust data also helps you to stay in the right lanes for regulatory compliance and provides support for important meetings with potential clients or investors.
With Quantumleaf, your cannabis production facility will have the Big Data tools you need to make that leap into a bright, green, future.