The cannabis industry is a booming market in the US and worldwide, and it influences the scientific industry, particularly with marijuana testing laboratories. If you want to join the cannabis industry or start a cannabis testing lab, consider the reasons below.
Capitalize on the Green Rush
Many economic markets worldwide are experiencing what some experts call the Green Rush. A substantial boom in the hemp industry has occurred because of the legalization of medicinal and recreational cannabis in more US states yearly.
The economic impact has been considerable in states where recreational marijuana has been legalized. The industry generates jobs in the planting, packaging, and selling of cannabis. The Green Rush is considered to have begun in 2012, with Colorado being the first US state to legalize recreational cannabis. Many believe it’ll be a $100 billion market worldwide by the end of the decade. So, if you’re looking to enter a business market with incredible potential, the hemp industry is a worthy target.
Meet the Strong Demand
With the substantial boom of cannabis growers and sellers in the US comes a growing industry of cannabis testing. While medicinal and recreational cannabis may be legal in some places, state governments still strictly regulate it. Products must pass extensive safety testing.
Cannabis testing ensures the flower is safe for consumption and is free of harmful heavy metals and chemicals like:
Hemp testing is required for accurate product labeling. Produces must test and analyze the flower’s THC, terpenes, and cannabinoids before it can be sold. Cannabis growers must test their harvest and prove it’s been tested for government regulation before bringing it to the market. A built-in market demand for cannabis testing is rapidly growing.
Save on Start-Up Costs
Another reason to start a cannabis testing lab is that there are many ways to save money on start-up costs. While marijuana testing equipment is typically expensive, one of the best tips for starting your own hemp testing laboratory is to utilize affordable, refurbished equipment.
Refurbished equipment includes gently used lab instruments and machines that have been repaired and maintained so they’re like new again, without the high price. From high-performance liquid chromatography instruments to basic glassware and lab supplies, new labs can save money by choosing used instead of new equipment.