As more and more states begin to legalize recreational cannabis use along with a push toward federal legalization taking place, cannabis manufacturers and dispensaries have seen their business grow exponentially over the last year and a half since the pandemic.
With lockdowns taking place in 2020, many consumers found themselves spending more time at home and this led to increased consumption of cannabis products. If you’re a cannabis distributor in the Medford area, you have seen the expansion of your business firsthand and have probably had to ramp up your operations. In this post, we will go over some of the key figures that outline the growth of the cannabis market in Medford, Oregon, and the US market as a whole.
Right now is an exciting time to be involved in the cannabis industry, and your business is going to want to ensure that its harvest stays fresh throughout the growing season. This post will also provide you with solutions to ensure that your crop is not contaminated, allowing you to operate more efficiently while saving money by not having to throw away buds gone bad due to insufficient coverage.
Key Growth Statistics and Industry Consolidation
As Oregon’s cannabis industry matures, we are seeing small shops being bought by large chains that are now operating internationally. Demand has ramped up to the point where sales were up 40% in 2020 alone, topping over $1 billion. Along with this rapid increase in total sales volume, the Medford market has seen wholesale price increases for a pound of bud grown outdoors go from $300 to $800 in 2020. This 150% increase is largely attributed to the wildfires that ravaged Oregon in 2020, leading to many farms and testing facilities being impacted or completely destroyed.
This, combined with growers moving toward CBD and hemp production as a federally legal alternative, has contributed to the increase in cannabis prices. Additionally, the surge in overall acceptance of the substance has led to increased sales that impact the total supply— making the product scarcer than it has been in years past.
While this growth has led to price increases, it has also led to more streamlined operations that make purchasing cannabis much more convenient. Packaging has become more conventional and the qualities of each product have been made clearer, making this emerging industry one that is only in its beginning stages.
With so many exciting developments, it is going to be important that your grow house has adequate plastic coverings to keep your product fresh for an extended period. If you’re looking for a shrink wrap plastic solution to maintain your crop, you should consider looking into Pro-Tect’s Greenhouse and Agriculture Plastic Films, which can protect your outdoor crops from moisture and other weather that has the potential to tarnish the yield you worked so hard to grow.
New Challenges in the Industry
Even though Oregon’s cannabis industry has now become a billion-dollar economy, this doesn’t mean that growers and dispensary owners are not faced with challenges. Increased taxes and regulations have led to the industry having to deal with a lot more expenses to maintain its operations. With cities and counties fighting for more of a share of the profits in the form of taxes, this has cut into the industry’s bottom-line profits and has made it so that prices need to be raised on the customer to maintain current operations.
And with consumers being very price-conscious this doesn’t bode well for an industry that has a lot of potential going forward. Having considered these new challenges, the last thing you’re going to want as a grower or dispensary operator is to have to throw away large portions of your crop that have gone bad.
With that being, said, it is very important to have the proper plastic coverings that can ensure that none of your yield is thrown out unnecessarily. The cannabis industry has enough challenges—having to throw away product that you worked so hard to cultivate is the last thing you want.
Having gone over some of the key growth metrics that set the stage for 2021, we have seen the cannabis industry continue to gain mainstream acceptance. This is a good thing for the industry overall and could lead to federal legalization over time. If you’re a grower looking to get the most out of your yield, consider contacting the professionals at Pro-Tect.
Our plastic coverings can ensure that your yield stays fresher for longer and will help you overcome any unnecessary slippage that might occur due to damaged products. With so many expenses that need to be accounted for as a cannabis manufacturer, you need to save money wherever you can, and plastic shrink wrap can help you toward that end. With so much potential growth going forward, you’re going to want to make sure your operations are running as smoothly as possible to take advantage of the continued growth. Pro-Tect can help; contact us today to see what we can do for your business.