The global legal marijuana market was valued at $9.3 billion in 2016 and is projected to have a compound annual growth rate of 34.6 percent from 2018 to 2025, according to a market industry analysis and report. The legal marijuana market is expected to experience significant growth owing to legalization of cannabis in several countries for both recreational and medicinal purposes.
Numerous companies are entering the market every day as the legal marijuana market continues to grow exponentially. To stay competitive in the market place, companies must invest in creating new products and expanding their geographical reach in order to expand their customer base and edge out competitors. The products currently offered include numerous varieties of stains and extracts (such as oils, resins, tinctures, and consumables. Each of these products can be customized based on the concentration of THC, CBD, and other cannabinoids in the product.
Although marijuana is still illegal under federal law, Michigan voters overwhelmingly passed The Michigan Regulation and Taxation of Marijuana Act on November 6, 2018. Marijuana is regulated similarly to alcohol under the law, allowing consumers to possess, purchase, transport, or store marijuana for personal use. With the passage of marijuana legalization legislation in Michigan, potential investors and business owners will have the opportunity to make money in the rapidly growing legal marijuana market.
If you are thinking about investing in a growing operation to make money off the rapidly growing legal marijuana industry, you might have questions about what equipment you will need to purchase to start your new business. Ultimately, the equipment that you purchase should account for the type of marijuana you are growing (such as strain and concentration of cannabinoids), the types of products it will be used in, the product yield and revenue that you wish to achieve, and so forth. Below is a starting point for understanding the different equipment needed for different commercial marijuana growing.
There is no one size fits all approach to a commercial marijuana operation whether growing cannabis in a warehouse, greenhouse, or indoor grow room. Every commercial operation must consider its own needs, as what worked for one cannabis start-up may not work for another. Thus, it can be hard to know what supplies and equipment to buy for commercial marijuana growing.
Cannabis rolling grow benches can lower cost per pound for goods produced. This is because rolling benches allow growers to maximize their growing space by eliminating most of the aisles found in typical growing operations. By putting the plants where the aisles once were, the operation can grow more plants for a higher production yield, which in turn increases profits.
Cannabis flood benches offer a type of irrigation system that manages the type and amount of nutrients that reach the cannabis plant. They also maximize the production yield for marijuana. Flood hydroponics is an easy method to flood your pots with a nutrient solution at timed intervals and then let the flood of nutrients and water drain back into the reservoir. The period between each flood allows the root of the cannabis plants to dry out to prevent this type of irrigation system from causing rotting problems, as well as allowing the roots to take on oxygen.
The simplest and easiest scalable method for growing legal marijuana is utilizing the cannabis nutrient film technique (NFT). Thus, it is one of the most commonly used pieces of equipment for commercial hydroponic systems. While there are different types of NFT systems, they all contain the same basic elements—a gutter for holding and passing water, a submersible pump, a reservoir containing nutrients, and tubing to move the water from the pump to the gutters and back to the reservoir. In this technique, the nutrients pumped from the reservoir are constantly flowing into the roots of the cannabis plants dipped in them.
There are two types of cannabis grow lights: HPS grow lights and LED grow lights. Marijuana requires light (or dark) to induce flowering, so significant plant growth and yields can only be attained with proper lighting. Each growth stage of the cannabis plant has different lighting requirements. The intensity, quality, and photoperiod can be manipulated to direct cannabis growth.
LED lights are becoming more popular than HPS lights because they are a dependable source for energy-to-yield efficiencies, enhanced terpene production, and increased cannabinoid content. This is because many commercial marijuana growers want high crop yields with superior terpene and secondary metabolite compositions while still maintain a grow operation that does not consume a lot of energy and is reliable.