The Blooming and Development of Cannabis Industry

Posted on Dec 13 , 2023

The History Background of Cannabis Cultivation:A Modern Transformation of a Crop with a Long History

Cannabis sativa is a plant that has been cultivated for thousands of years in a variety of cultures, which has a wide range of applications from textiles, medicinal to psychoactive substances. However, it is only in recent decades that the global perception of cannabis has begun to change significantly. Advances in modern science have helped us better understand the potential of cannabis, especially in the context of medical and recreational domain.

The Legal Environment: A Transformation from a Global Perspective

Past bans have brought great barriers to cannabis cultivation and research. But in recent years, attitudes towards cannabis have been changing around the world. From Canada to Uruguay,as well as multiple states in the United States, the trend of legalize is becoming more pronounced. This shift is not only a relaxation in the legal level, but also represents a re-evaluation and recognition of the potential of cannabis.

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Market Size and Growth Forecast

According to Mordor Intelligence, the estimated size of the cannabis market in 2023 was $29.32 billion and is expected to reach $60.01 billion by 2028, exhibiting a staggering 15.40% CAGR. This remarkable growth underscores the tremendous potential and growth momentum of the cannabis market as an emerging field.

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Technology Progress:The Role of Grow Lights

In the field of cannabis cultivation, technological advancements are particularly important. Among them, the development of grow light technology has played a key role in improving the yield and quality of cannabis. By precisely controlling the intensity and frequency of light, grow lights are able to simulate different environmental conditions to optimize the growth cycle and composition of cannabis.

Future Outlook: Sustainability and Innovation

In the future, the development of the cannabis industry will be more focused on sustainability and innovation. With an in-depth understanding of the crop itself, as well as its environmental impact, cultivation methods will tend to be environmentally friendly and efficient. At the same time, new products and consumption methods will continue to emerge to meet the diversified needs of the market.

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The future of the cannabis industry is full of potential and opportunities, but it also faces challenges and responsibilities. As a pioneer of smart agriculture solutions, VANQ is not only committed to providing advanced technical support, but also committed to promoting the healthy and sustainable development of this industry and providing holistic planting solutions. Having continuous innovation and a deep understanding of market needs, we are looking forward to play a vital role in the blooming of cannabis industry and share a bright future with you.


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