February 21, 2022
3 Cannabis, Hemp & CBD Business Predictions for 2022
It’s a new year and time for my top 3 Cannabis, Hemp & CBD Business Predictions for 2022. First, I see Delta 8, THC, and synthetic converted cannabinoids from CBD and Hemp companies getting a bad rep in the market as the testing and quality standards for these products are not there yet and are very immature.
#1. Cannabis, Hemp & CBD Business Predictions for 2022
More states; especially with Rec and Med basis will continue to fight against synthetic converted cannabinoids.
This existed in the first place as a loophole on the farm bill; where CBD and Hemp wanted to have a THC basis of their own or means to compete with Rec and Med systems by getting people a slight head change or “high” of their own. So they converted CBD Isolate over to various cannabinoids using heavy solvents and acids.
Which the cat is out of the bag on.
For example, in Colorado, last May CDPHE/MED (regulation) came in and put a stop to this activity. Some states like Texas and Florida became safe havens for these companies that moved their operations to those states that were friendly with Delta 8 THC and other converted cannabinoids like THCV, THCO-Acetate, Delta 10, HHC, and more to come.
#2 Cannabis, Hemp & CBD Business Predictions for 2022
Over time these cannabinoids will be seen as novice chemistry and get way sided to the big game of real THC coming from Medical and Recreational means that take into account consumer safety with oversight from the state.
The biggest issue with the converted cannabinoids is making sure the quality and purity are 100% or the “other” can be defined. For example, Delta 10 THC comes in around 80% let’s say and there is 20% of that oil that is undefined which causes a lot of panic and worry from the state and national level when we put in perspective consumer safety and long term health effects. Of which most carriers have a health hazard exclusion or other odd exclusions to avoid paying out health-related claims or issues; vape is a prime example
Even vape carts will have a specialized quality control standard to come as there is a loss history and a lot of foreign-made hardware that is uninsurable.
The atomizers are the main issue as most are made in China and the domestic carriers in the US will not pick up.
#3. Cannabis, Hemp & CBD Business Predictions for 2022
Most of all I see CBD and Hemp companies re-approaching the failed attempts with synthetic cannabinoids and going back to riding the .3% THC rule.
Really riding that line and playing with ratios in order to offer as much Delta 9 THC as possible while staying compliant. So the CBD Hemp people are back to the roots and really going to make an impact in the edible market.
I see the CBD and Hemp companies trying to undercut REC edibles on price and contents.
And offer just as much THC in a gummy or chocolate so 10MG THC but ratio with CBD of let’s say 35MG where they can still test out under.3% Delta 9 THC compliant in all 50 states.
So I see more than anything a correction taking place that will really give REC and MED edible companies Nationally a run for their money!
I do expect push back from REC and MED against CBD and Hemp companies taking these approaches as it threatens their profits. I know Oregon just addressed these approaches recently!
Ready to learn more about insuring your cannabis & hemp products? Then contact us at (720) 999-3345 or at info@CannabisInsuranceBusiness.com. You can also learn more about CIB at https://cannabisinsurancebusiness.com/about
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Pushing the industry further one step and state at a time. Proudly serving all 50 states. – Cannabis Insurance Business of Loveland Colorado
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