As the legal cannabis market continues to grow and mature it brings with it new business trends and opportunities—no division of the cannabis-based products segment has experienced the sort of developments seen with marijuana concentrates. Looking at the U.S. cannabis industry as a whole, there are literally countless new businesses springing up offering oils, waxes, distillates, crumble, edibles, vaporizers, dab equipment, and extraction machines. There are a number or reasons for this expansive infusion of start-up companies into the market, but they mostly have to do with technological advancements and convenience.
Legal marijuana markets, whether medical or recreational, have opened the doors for tech companies to comfortably invest time and energy in the cannabis space. The confluence of modern cannabis culture and the tech industries has spawned a number of innovative technologies related to marijuana extracts. Not only have these innovations given rise to healthier, more regulated products like solvent free extracts, they have also lead to sheik, convenient “smoking” methods seen with today’s vape pens. These vape pens, generally used with concentrates, are easily utilized in public spaces and within homes without the nuisance of excessive smoke. Furthermore, with less product required to burn in order to achieve a healthy buzz, modern cannabis aficionados are turning to the vape pen and concentrate combination as the staple of their marijuana consumption.
It should be noted also that “dabbing” has become a massive trend in current marijuana culture—in this practice smokers use complex glass water pipes to take “bong-like” hits of cannabis concentrates. Dabbing is not for the novice marijuana consumer.
To gain some more insight into the current concentrates market, The Fresh Toast contacted Head Set, a frontrunner in marijuana business analysis and statistics. Head Set used the Washington State marketplace as a sample population for this study.
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