People love vaping THC cartridges, and the craze of vaping THC isn’t going to stop anytime soon. Vape cartridges have undergone many changes since they arrived in the industry. The change has been unprecedented, from small tankers containing THC oil to e-cigs.
You can still find the early vape cartridges in some dispensaries in the countryside. However, the arrival of new technologies has disrupted the market. So, let’s see the future of THC cartridges in 2023.
The Future of THC cartridges:
From the illegal to the legal market, the transition of the cannabis industry was never smooth. According to the Smithers report, the global cannabis packaging market valuation will reach an all-time high of $1.6 billion in 2024.
While the earlier laws and regulations have supported small-scale producers, the new rules are more likely to help big pharma companies. “The Future of Cannabis Packaging” report has identified several upward trends favoring the legal cannabis industry. These trends will help the cannabis industry, including the THC cartridge.
Trend of Vaping
The trend of using vape pens and THC has increased very much. As per the FDA, 1 in every 10 American students currently uses e-cigarettes. Over 2.5 million American high and middle school students have used a vape pen in the previous 30 days. Owing to this trend, we can say that, even shortly, the use of THC cartridges will increase significantly.
Increasing Research:
Unlike earlier, there has been a lot of new research available on the health benefits of cannabis. Besides, some recent research also suggests that vaping is safer than smoking cannabis. Research suggests that THC and CBD, the two prevalent compounds of cannabis, have various health benefits. Researchers have found that THC may help relieve chronic pain, insomnia, stress-related disorders, and much more.
As per some evidence, THC can also help stop cancer cell growth and help patients undergoing radiation therapy. Besides, some research also points out that the antioxidants present in THC can protect against cancer. In light of this evidence, the use of THC vapes has increased significantly, and the manufacturers believe it will continue.
Legalization:
Previously, THC was legal only in a handful of states in the United States. However, after the agricultural law of 2018, now, THC products, including vapes, have become legal even in federal states. The 2018 farm laws say a product containing 0.3% THC is legal at the federal level. Because of this, people can now vape THC in most places in the United States. This change of law has increased the market penetration and popularity of THC.
At present, THC is conditionally legal in at least 37 states. While in most states, the legality is for medical cannabis, some states have also allowed the recreational use of marijuana. While THC is legal, businesses struggle to get investment capital and other standard services from financial institutions. It’s because banks treat the THC business as a high-risk one.
For now, the onus is on FDA and congress as to how they certify and legalize things. Like the Safe Banking Act of 2021, there is a need for more protection from government agencies.
Retail access:
After the federal legalization of THC, retail marketing has become a little clearer. Once the companies get the go-ahead to market THC cartridges as a dietary supplement, the product will become more mainstream. That will help the brick-and-mortar and big-box chains offer cartridges in various flavors and concentrations.
With this new development, groups associated with the supply chain, farmers, labs, and people related to extraction and manufacturing processes. So, in 2023, the THC cartridge market will also give rise to various career opportunities.
The arrival of Corporates:
There are few corporations in the THC vape and cartridge industry. This market has been a big no, and large companies have been hesitant to keep a foot. However, as the clouds of regulations become more evident, the corporates will come into the market sooner than later. These companies will set themselves in the market through acquisitions of established THC companies. By doing so, these corporations can gain a well-established consumer market without making much effort on the ground.
Quality Assurance :
Because of the increased popularity, companies have become more concerned about product safety. Moreover, education on this topic has also been widely available. Now, most companies show the third-party lab results of their product on their website. Moreover, they likewise follow a strict manufacturing process.
Product Innovation:
From a plastic vessel with a plastic wick to glass and metal cartridges, this industry has had much innovation. However, the content inside the boat has been more or less the same. However, we can expect advanced THC vape devices and cartridges. For example, you may see a standardized tanker attached with a mouthpiece and battery combo. The mouthpiece could be customizable with a small but powerful battery.
Conclusion:
The future of THC cartridges looks quite bright. Besides being a multi-billion dollar industry, it has millions of customers. However, it doesn’t mean the road is accessible for vape cartridges. There are still many hurdles, such as easy access to investment capital, standard payment processing features, and biases of congress members and the FDA, to name a few. However, you could remove most of these barriers overnight with the complete legalization of federal and state agencies.