Technology Is Playing A Large Role In Changing The Cannabis Industry

Cannabis use has increased over past few years, with this being driven by a variety of factors. Recent reports have suggested that 3.9% of the world’s population, or about 190 million people, use the drug for either recreational or medical reasons.

This is a demographic that looks to grow over the coming years, with some reports claiming that the recreational cannabis market could be worth as much as $66.3 billion by 2025. While Europe is leading this growth, it’s being seen in the vast majority of countries worldwide.

Technology is playing a vital role in this, with increased innovation affecting everything from logistics to marketing and much more. This has led to many people wondering if technology plays a role in the adoption of drug use across the world.

While the answer to this is yes, it can be much more complicated than that, as there are a variety of factors that play a role in the increase in drug use across the globe.

Technology’s Influence On Cannabis

Technology has played an increasing role in the cannabis industry, with this being seen in almost every area. This has meant that the industry has become heavily reliant on it in a few ways, from increasing growth reliability and consistency to traceability and transparency.

Advancement in extraction and agricultural technology have also played a role in this. As a result, cannabis-focused firms can produce more products at a reduced cost, while also being able to market and transport them more effectively.

Much of this has also fed into the sociological aspect of cannabis use, as social media and other platforms have made its use much less taboo. Several companies have suggested that Instagram has played a significant role in this, as it can help to legitimize it.

Not only has this meant that the drug has been increasingly less taboo, but more people are becoming aware of the potential benefits that it may offer. Digital marketing has meant that companies can reach a much broader audience without needing to spend as much money as they would have with traditional marketing tools.

This has also allowed for a significant amount of market research, as it gives firms more access to potential customers. With this broader reach, companies have been able to drive engagement with their current customer base while also determining what their needs and desires are.

By knowing this, businesses have been able to better adapt to the changing marketplace, which has played a role in how fast the culture surrounding cannabis has changed. By knowing what does and doesn’t work, companies can maximize the number of people who see, and act on, their advertisements.

This results in more people being aware of the potential benefits of the drug while also finding out about different products that they may be able to purchase alongside it. These results have meant that cannabis use has continued to speed up and shown no signs of slowing down anything soon.

With the variety of ways that technology has improved cannabis production, companies have been able to increase the demand for their products while keeping supply high. The increasing profitability has also meant that investors have become more attracted to the niche.

Larger and more frequent investments in the cannabis industry have further fueled the technological innovation that has been seen across the area. This has helped increase production speed while also making the quality of products much better. Both of these have further enhanced the number of people who are drawn to, and begun consuming, the drug.

Other Factors Speeding Up Cannabis Use

While technology plays quite a significant part in the adoption of cannabis use, it’s far from the only one. Perhaps the most notable of these is the health benefits that have been seen from the drug. There are a variety of conditions that cannabinoid (CBD), an essential part of cannabis, can have for people.

These can range from the relatively minor to helping relieve the symptoms of various major diseases. For example, many medical marijuana users have noted that the drug can have a significant effect on pain relief, whether this is part of a more significant illness or a condition on its own.

Several studies have also shown that it can be used to help with a variety of illnesses, ranging from mental health disorders to Parkinson’s, Alzheimer’s, and even arthritis. Many of these have also highlighted that it can reduce the symptoms of cancer while also minimizing the side effects of many treatments focused on the disease.

This has led to an increasing number of people beginning to use the drug to manage the illnesses they may have. Much of this has helped feed into how fast drug adoption has increased over the past few years. This can be highlighted through the drug becoming less and less taboo as more people consume it for medical reasons, which has led to fewer people seeing it as a dangerous drug.

Alongside this has been the economic benefits that have been seen because of marijuana consumption. With the drug being legal in various capacities in many areas, local and federal governments have seen an increase in tax revenues as a result of businesses being established.

The legal benefits of decriminalizing cannabis have also had an impact on this, as it’s helped to disrupt the black market. A reduced amount of criminal charges has also meant that governments have had to spend less on prisons and the prosecution of these crimes. Much of this has meant that many regions have been more receptive to the drug being legalized in both a medical and recreational capacity.

An increased amount of competition has played a role in this, with the number of companies looking to create a market share driving much of the innovation that has been seen in the industry. This hasn’t just meant that technology has kept improving and changing the industry.

Instead, it’s meant that firms have had to make higher-quality products while also becoming more creative with their marketing strategies. Affordability has been a part of this, as companies have needed to produce products at various price points to draw in consumers.

As the drug and related products have become much more affordable, customers have been able to test products without being out of pocket too much. Should they enjoy the experience, or a particular cannabis accessory or product, then they’ll be more likely to continue using the drug in the future. This has been seen in both the medical and recreational sides of the cannabis industry.

While technology is playing a vital role in the adoption of cannabis use, this has only been because of, and in the context of, several other factors. As highlighted, the most notable of these have been changing socio-economic attitudes toward its use.

This has meant that companies have not only been able to innovate within the industry but has allowed the niche to grow in the first place. These have then fed back into changing attitudes, much of which has meant that the taboo-ness that has previously been associated with the consumption of cannabis has been all but forgotten.

This means that the industry shouldn’t slow down its expansion anytime soon.