Companies that grow marijuana in a number of states need to use various strategies, depending on several variables in order to effectively compete in this burgeoning industry. Those variables include the climate, what consumers are willing to pay for a product and the maturity of the market in the state.
Experts believe that for companies and their cultivators to maximize profits while preserving the integrity of the plants they grow, they need to align with the trajectory of the market they are involved in.
So what should growers take into consideration when growing cannabis in more than one state?
Mature markets vs. new markets
In the United States, the state of California has one of the most mature cannabis markets, with a competitive scene where cultivators sell the best-quality marijuana. The climate in this California, which involves little rainfall and a lot of daylight, enables growers to produce large plants, which explains why the focus is mainly on the sale of buds.
In comparison, cannabis sales in the state of Massachusetts for recreational purposes is relatively new. The state has a humid and rainy climate, which is why most marijuana is cultivated indoors. Profitable methods to grow cannabis indoors include crop steering, using hydroponics and inert growing mechanisms such as rockwool for ease of use and cleanliness.
Companies involved in new markets may be better off using hydroponic growing techniques to simplify the cultivation process. New markets have less competition, so the focus is mostly on producing a lot of different products and extending consumer reach.
In established markets, however,, cultivators should focus on differentiating themselves from other players through organically cultivated cultivars or the development of niches for themselves via the manufacture of unique products.
Consumer appetites may differ in different states, especially with outdoor-grown marijuana now competing against greenhouse-grown and indoor-grown flowers. In some states, indoor flowers grown under perfect conditions are considered prime products, which means an increased demand from consumers.
In saturated markets that have established large marijuana companies participating and brands in a number of categories, companies may have to expand their focus to growing strains with more diverse cannabinoid and terpene profiles in order to compete better.
Quantity or quality
Successful cultivation focuses on crop steering, good plant-care techniques, good nutrients and great genetics. Experts recommend that cultivators grow their plants well with desirable genetics to produce quality flower and products and avoid overcomplicating production.
As more technologies such as the micro gardens commercialized by Advanced Container Technologies Inc. (OTC: ACTX) penetrate the market, we may see cannabis production being taken to a whole new level in terms of cannabinoid and terpene profiles.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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