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Challenges and opportunities from the US Cannabis Market
Challenges and opportunities from the US Cannabis Market

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Date

11 March 2020

Challenges and opportunities from the US Cannabis Market

The projections have increased by 20% and legal medical and recreational sales are expected to reach $30 billion by 2025*.

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Currently legal in 33 States and creating over 250.000 jobs, the US Cannabis Market is growing fast in the US.

62% of Americans believe the use of marijuana should be legalized.

Baby boomers and older adults are one of the fastest growing segments of users.

Challenges and opportunities from the US Cannabis Market

Their preference for smoke-free products and the continued need for child resistant packaging is increasing the demand for more detailed labeling, product information and packaging inspection.

In terms of regulatory compliance and legalization, it is expected that the cannabis market will follow the pharma market, in order to ensure transparency, product integrity, anti-counterfeiting and diversion while keeping product quality and consumer safety as top priorities. Several companies are already employing ‘smart label’ packaging to manage product traceability, THC level monitoring and consumer education. The cannabis industry is also experiencing a large product development crossover from pharma, food & beverage, medical devices, cosmetics and smoke-free delivery devices. While markets in countries like Canada and Thailand are managed centrally, the US cannabis market is still regulated on a state-by-state basis, creating an increased need for compliance and regulatory standardization. The progress towards full legalization over the next few years means there will be significant opportunities for solution providers to work closely with brand owners, suppliers and customers to understand and meet their requirements.

The comprehensive supply chain solutions offered by Antares Vision enable businesses to increase line efficiency and production while reducing operating costs through real-time data analysis. Our Track My Way software offers anti-counterfeiting, brand protection, customer education and engagement capabilities we call Trustparency®. With over 20 years of experience in the pharmaceutical industry, our packaging and product inspection solutions ensure integrity and safety from raw material to end-product through deep learning vision technologies. We also specialize in many forms of container inspection including glass vials, blister packs and standardized OTC packaging to ensure child resistant solutions and customer safety. The black market continues to be one of the cannabis industries greatest challenges, but consumers are willing to pay for a traceable high-quality product if offered and we are here to ensure the legalized cannabis market remains safe and secure for all.

[1] Yahoo Finance, September 19, 2019

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