The cannabis industry still has room for growth

After several years of effort, Colombia is leaving behind the taboo on the medical use of cannabis, which is currently legal in more than 49 countries around the world. The legal business around cannabis is expected to grow 77% by 2025 with sales exceeding $160 billion. A key driver of growth is that cannabis companies and producers are finding innovative ways to utilize the plant. Cannabis and hemp is becoming a key ingredient of beauty products, beverages, food, and other unexpected industries. 

Canada’s Plena Global is dedicated to cultivating high-quality medicinal-grade cannabis in Colombia and Peru. Cannabis is ready to break into virtually all consumer industries. “We are dedicated to producing a consistent and reliable global supply chain so that our customers have the commercial certainty required to meet their patients’ demands,” said Richard Zwicky, Econnabis S.A.S. and Plena Global Peru executive director.

The hemp.im cannabis news app provides the latest happenings in the cannabis sector. The app curates cannabis news from across the world and distills it to 400 characters or less, helping you stay informed no matter where you are or how much time you have. 

Plena Global aims to become a leader in the cannabis supply business

Although the Plena Global company is mainly interested in the medicinal use of cannabis, it does not leave aside the potential it has in other large industries. This is why the company bets on cultivation in strategic countries such as Colombia, to ensure the best conditions for growth and quality. By doing so, Plena Global aims to become a reliable B2B cannabis supply partner for licensed producers, pharmaceutical companies, manufacturers and other companies. 

“Colombia has not only an ideal geographical location for low-cost cultivation of the plant, but it has a regulation based on traceability and control, which allows transparency throughout the process. Ultimately, this is the reliability that we as a country have to ensure,” says Mauricio Krausz, Director of Regulatory Affairs. 

The benefits of cannabis

In order to better understand the opportunities offered by cannabis, it is necessary to know its components and what they are used for. All cannabis plants contain cannabinoids that interact with the endocannabinoid system of the human body.

There are more than 100 different cannabinoids, of which tetrahydrocannabinol (THC), the psychoactive substance, and cannabidiol (CBD), are the best known. THC is a psychoactive ingredient and, therefore, its application is restricted to medical use in certain cases or completely prohibited. CBD is used as a medicinal ingredient for anxiety relief, pain relief, nausea relief, anti-inflammatory and antispasmodic. 

CBD will become a key industry over the next decade

Cannabis industry growth is likely to be driven by cannabidiol, or CBD. . It is not psychoactive and its benefits outweigh the pharmaceutical industry. A key ingredient in many innovative beauty products, it is utilized for its antioxidant and anti-inflammatory properties. Increasingly, CBD-infused products are widely prevalent in skincare, toiletries and cosmetics, as well as pet products. Brands operating in the therapeutic and dermo-cosmetic space will join holistic beauty trends aligned with health.

On the other hand, according to studies conducted by Euromonitor International, in the next two years, sales of packaged foods containing CBD will double as consumer awareness is increasing. This will lead to a market expansion to the production of cannabis-based foods as soups, pasta, pastry ingredients, beverages, among others.  

With this in mind, companies such as Plena Global are preparing to have the capacity to react to the markets demand for high-quality cannabis.

(Featured image by Pexels via Pixabay)

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