The race to develop the perfect cannabis-infused product is gaining speed as more and more states legalize consumption of the plant. According to a report from MJ Biz Daily, adult-use cannabis sales are projected to hit $4-5 billion by the end of 2018, compared to $2.7 billion in 2017.
However, with market maturation comes rules, laws and regulations. The days of whipping up a batch of THC-infused brownies at home and selling them at a local dispensary are gone. Cannabis has gone mainstream and the need for stricter labeling and testing is increasingly important as the number of consumers grow.
This past July, California put in place some of the most stringent labeling, packaging and testing standards for cannabis products sold through dispensaries. This move resulted in hundreds of millions in lost profits as retailers were forced to destroy existing product that didn’t meet the new threshold. For the select few