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At this point, the rapid growth of the cannabis industry is undeniable. In 2017 alone, legal marijuana sales grew over 37%, raking in international valuations amounting to around $9.5 billion. US sales, which reached $8.5 billion, accounted for 90% of the figure. The US market for cannabis is projected to expand to approximately $23.4 billion, which will constitute around 73% of the international market by 2022. Pioneer companies that realized marijuana’s potential early on saw phenomenal growth in the course of just a few short years. This boom also created thousands of jobs that pay livable, if not comfortable, hourly rates.
Following the shift in marijuana’s legal status, everyone from corporate powerhouses to independent growers are now clamoring to take part in what has been dubbed as the “green gold rush.” Becoming a part of this profitable industry, however, can be a bit daunting for new players due to the unique challenges that come with cultivating cannabis plants. Among the difficulties that would-be cannabis growers should anticipate while building their businesses are:
The availability of countless new products.
The cannabis industry is exploding at the moment—in a good way. There are hundreds of strains to choose from, and new innovations in cannabis cultivation are springing up daily. Would-be farmers of the plant are flooded with options, and they are pressured to make the best decision at the snap of a finger to keep up with the fierce competition. Someone who’s just starting out should be able to choose a reliable supplier, the right equipment, and the best growing method. Plus, they should be able to find the right people for the labor-intensive job of tending the plants.
Incomplete pest management information.
Cannabis attracts insects that are both harmful and beneficial to the plant’s growth. It also serves as a host to various pathogens. Because growing cannabis hasn’t been legal until recently, there is scarce information about the insects and microorganisms that call cannabis plants home. Farmers who are considering the use of pesticides may have a difficult time finding a cannabis-specific product in the market. Those who are attracted to the idea of organic farming, on the other hand, may need to conduct their own research and test out organic pest control products and practices before implementing them throughout the farm.
Lack of control over variables.
There is very little reliable information about the variables affecting cannabis plant growth. Test trials, as mentioned before, are a necessary part of maintaining a cannabis farm. These trials help farmers find the conditions that will promote the optimal growth of the plants. Among the things growers should look into are: the best lighting for each stage of growth, pH level, water application rate, fertilizer application rate, temperature, and humidity.
Maintaining indoor air quality.
Those who are planning on an indoor grow setup need to find ways to control the air quality of the facility. These growers need to deal with cannabis-related odors as well as the excess levels of carbon dioxide that can come from burners and generators used to enhance plant growth.
Last but not least, entrepreneurs must be able to navigate the complex legal obstacles and challenges that come with owning a cannabis business. They should be prepared to keep abreast with the latest developments in the rules and regulations that are concerned with growing, distributing, or selling cannabis plants.
Needless to say, cultivating cannabis for business or personal consumption is a very attractive prospect for many people, particularly those in the 33 states in the US where medical cannabis consumption is now deemed legal. The guidance of a professional supplier of cannabis growing equipment, such as Production Grower, offers a valuable advantage to would-be farmers. Access to an industry expert will help entrepreneurs build a solid foundation — one that will allow them to thrive within an industry that has a very bright future.