The Current State of the Hemp Industry, and Why the Cannabis Industry is Worth Your Consideration
Many potential cannabis investors are familiar with the terms hemp and marijuana, but they tend to use the two terms interchangeably. The fact that the products physically look so similar to each other doesn’t help matters.
Although they are both derived from the cannabis plant, hemp and marijuana are, in fact, not the same thing. So, what are the differences?
First, marijuana comes from both the cannabis sativa and cannabis indica plants. Hemp can only be found in the sativa family. The other thing that separates the two is their chemical composition and THC levels. Marijuana can contain up to 30 percent THC whereas hemp tops out around 0.3 percent. This means that hemp won’t produce any sort of a high; however, it’s used for quite a bit more than that.
The Current Uses of Hemp and the Health of the Industry
There are a variety of nutrients, minerals, and vitamins contained in hemp seeds that have numerous health benefits. Hemp oil contains vitamin E, omega-3 and omega-6 fatty acids, and gamma linolenic acid (GLA).
Historically, people have used hemp seeds and hemp seed oil for reducing symptoms of PMS, reducing cholesterol, improving blood pressure, boosting their immune system, and for the antioxidant effects.
The stalk of a hemp plant also can be used for textiles and products including rope, plastics, paper, clothing, and soaps. It’s even used for construction-type materials, such as solvents and varnishes. There are literally thousands of ways to repurpose and use hemp. It’s a highly versatile product.
According to a news release from the United States Department of Agriculture covering the year-end value of hemp production for 2021, the overall value of the hemp industry was $824 million. The total planted area for industrial hemp in the United States totaled more than 54,000 acres.
According to data provided by Statista, sales of hemp-based products are expected to exceed $2.5 billion in 2022, with the majority of that being in the hemp-derived CBD space. Many industry giants such as Philip Morris International and Altria Group, Inc. have invested significantly in the hemp industry.
From an investor standpoint, there’s definitely some opportunity to be had in hemp. The CBD space appears to be the safest bet, but products and textiles also show promise for an investor who is willing to compete in that market.
What to Know About Investing in the Cannabis Industry
From the perspective of a potential investor, you may be wondering how the cannabis industry compares to the hemp industry. According to an article published by Fortune Magazine, legal marijuana sales are expected to hit upwards of $33 billion this year in the United States, which is head and shoulders above any projections being made for hemp.
With cannabis being legal for recreational and medicinal use at the state level in 18 states, the cannabis industry is experiencing a boom period. Many cannabis investors are looking into owning or purchasing a stake in a cannabis growing operation or a dispensary that retails cannabis products.
Furthermore, many savvy cannabis investors are getting in on the cannabis testing equipment side. The majority of growing operations are still using third-party labs to test their crop samples. The downside of that is that third-party labs can take an inordinate amount of time to return results. Additionally, testing methods used by third party labs can be environmentally unsafe.
For those who are growing cannabis and want quick and reliable testing results, investing in cannabis testing equipment is a great way to reliably track the progress of crops. This is exactly where our company, Elite Robotics, comes into play.
The Power of the Lab in the Hands of Growers and Cultivators
At Elite Robotics, we know that growing cannabis is a delicate endeavor. Federal law dictates that cannabis crops exceeding 0.3 percent THC must be destroyed at the grower’s expense, which nullifies any potential profits. Keeping a close eye on crops is of the utmost importance, which is where our cannabis testing equipment comes in.
Our Cannabots™ line consists of two main products. The first is a patent-pending specimen containment device (SCD) that hermetically stores samples and preserves their chain of custody until they’re ready to be tested. It uses no harsh chemicals, so it’s safe for the environment.
The second product is an analyzer that tests the samples from the containment device. It provides data for THC, CBD, CBN, and other cannabinoids. It will also provide insight on microorganisms, metals, solvents, and terpenes.
Having these two products on-site helps growing operations become less reliant on third-party labs so they can quickly make decisions about their crops. As a company, our goal is to get our cannabis testing equipment in the hands of every grower and cultivator. As a cannabis investor, you can help us reach that goal.
Learn more about our cannabis testing equipment and how to become an investor by contacting Elite Robotics at (805) 987-6217. Or send us a message directly using our contact form.