Experts agree the California recreational marijuana market is extremely challenging because of high tax rates, huge illicit production and consumption as well as an uncertain economy amid the coronavirus pandemic.
But while much of this is unfair to legal marijuana business owners, one also must keep things in perspective: California is a new market with “brand-new baby regulations,” cannabis attorney Katy Young said Tuesday during the MJBizConNEXT Direct virtual conference.
“It’s a challenging environment, it’s difficult to make money, but it’s not impossible to turn a profit,” Young said. “Everyone is learning as we go along …. I do see the market improving over time as regulations mature.”
Young’s comments came during a panel discussion titled, “Key Market Insights to Embrace the Future. Searching for Stability: Surviving in California’s Cannabis Market.”
Ideally, of course, tax rates would be slashed, all municipalities would be required to allow rec sales and the illicit market would be squeezed out by statewide access to safe, high-quality and competitively priced products.
But, in the absence of major reforms in California, the experts hit on a number of key points in the search for stability in the market:
- Young, managing partner of Ad Astra Law Group: A big enough war chest to survive the ups and downs. She also advised having a litigation budget.
- Robert Hunt, principal of Linneae Holdings, a private equity firm: Manage your entire supply chain. Picking your vendors and suppliers is critical, he said. And “cash flow is king.”
- Avis Bulbulyan, CEO of Siva Enterprises, a cannabis business development and consulting firm: Understand the line of business you’re in and your position in the supply chain – and understand the needs of others in the supply chain.
- Virgil Grant, founder and CEO of California Cannabis West Coast, a Los Angeles-based marijuana operator: To plant your roots and grow a robust business, you need to understand the industry you’re operating in, plus the culture and people you’re servicing.
– Jeff Smith
Legal Marijuana Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast 2020 to 2027
The MarketWatch News Department was not involved in the creation of this content.
Jul 08, 2020 (Market Insight Reports) —
The Global Legal Marijuana Market is estimated to value over USD 75.5 billion by 2027 end with a CAGR of over 24.2% during the forecast period 2020 to 2027.
The report on Legal Marijuana provides the clients with a comprehensive analysis of crucial driving factors, consumer behavior, growth trends, product utilization, key player scrutinization, brand positioning and price patterns. The information on pricing patterns is obtained by analyzing product prices of key players as well as emerging market players. Furthermore, this research report provides valuable insights on market overview, market segmentation and strategies for established and emerging players. The market overview included in this report provides information from a wide range of resources like government organizations, established companies, trade and industry associations, industry brokers and other such regulatory and non-regulatory bodies. The data acquired from these organizations authenticate the Legal Marijuana research report, thereby aiding the clients in better decision making. Additionally, the data provided in this report offers a contemporary understanding of the…
Fluence Leads Global Research Initiative to Study Impact of Light Quality on Plant Development, Yield and Crop Quality
AUSTIN, Texas–(BUSINESS WIRE)–Fluence by OSRAM (Fluence), a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and agriculture production, has expanded its global photobiology research program, which encompasses studies on multiple vine crops, leafy greens and medical cannabis in the United States, Canada, Germany, Belgium and the Netherlands.
Tapping into a global network of trusted research institutions
Fluence leverages a network of leading research institutions and partners for its program, including Wageningen University & Research (WUR) for tomatoes; Proefstation voor de Groenteteelt (Proefstation) to study cucumbers; Harrow Research and Development Centre for peppers; The Technical University of Munich’s Greenhouse Lab Centre for lettuce; Wageningen Plant Research’s Greenhouse Horticulture business unit and Compassionate Cultivation for medical cannabis.
The latest studies utilized Fluence’s VYPR Series top light and expanded PhysioSpec™ spectra offering—which features four spectra and market-leading efficacies up to 3.8 µmol/J—in a randomized block design with triple replicates during a winter growing season. A leader in global horticultural research, WUR explored the impact of each spectrum on Merlice and Brioso tomato cultivars.
“Traditionally, tomato plants are grown under high-pressure sodium lights, where only one spectrum is available to growers,” said Ep Heuvelink, associate professor of horticulture and product physiology at WUR. “Given the efficacy of Fluence’s LED solutions and the company’s spectra options, it’s critical to understand how various tomato cultivars perform under LEDs and diversified spectra.”
Featuring a 1.3-hectare greenhouse with 38 independent compartments, Proefstation’s facility brings more than 50 years of experience in research on the cultivation of greenhouse and field vegetables.
“Light spectra have an important impact on plant and fruit quality, and we’ve found that LEDs provide a more optimal, precise spectrum than HPS,” said Jonas De Win, lead cucumber researcher at Proefstation. “This research is critical for our growers who frequently ask which spectra is best for their greenhouse and crop variety. Our goal is to act as the bridge between cucumber growers and the latest scientific research, enabling cultivators to enhance their environments and ultimately become more profitable.”
Crop-based research results inform unique lighting strategies
“LED lighting is a proven, viable option for global crop growers,” said David Cohen, CEO of Fluence. “Our exploration of the impact of light quality on plant development is driving a deeper conversation about efficacy, yield and quality between growers and their partners. Our commitment to leading cross-geography, multi-crop research will help guide growers in building a supplemental lighting strategy tailored to their unique business goals.”
Fluence will distribute research results throughout the year, uncovering how the optimal lighting strategy varies by crop, species and environment. Results from Fluence’s cucumber trial with Proefstation will be previewed on July 15, 2020 on a webinar hosted by Leo Lansbergen, Fluence’s horticulture service specialist and expert in cucumber cultivation.
“There is no one-size-fits-all approach to determining your lighting strategy,” said David Hawley, Ph.D., Fluence’s senior scientist. “Exploring how to manipulate LED technology presents a world of opportunity for us as scientists, but ultimately benefits growers looking to customize their cultivation environments. Insights derived from each study will help growers understand how various spectra impact harvests and plant quality, including factors ranging from nutrition and flavor to shelf life.”
For more information about Fluence and its ongoing research initiatives, visit www.fluence.science.
About Fluence by OSRAM
Fluence Bioengineering, Inc., a wholly-owned subsidiary of OSRAM, creates powerful and energy-efficient LED lighting solutions for commercial crop production and research applications. Fluence is a leading LED lighting supplier in the global cannabis market and is committed to enabling more efficient crop production with the world’s top vertical farms and greenhouse produce growers. Fluence global headquarters are based in Austin, Texas, with its EMEA headquarters in Rotterdam, Netherlands. For more information about Fluence, visit www.fluence.science.
Link to high resolution pictures: www.fluence.science/press-links
ORTHOWORLD® Inc. Announces Release of New Orthopedic Market Projections in Face of COVID-19
ORTHOWORLD projects the $53 billion dollar orthopedic market will decline -17% in 2020 with recovery efforts extending into 2022.
CHAGRIN FALLS, OH, UNITED STATES, July 8, 2020 /EINPresswire.com/ — ORTHOWORLD Inc., a customer-centric media company exclusively serving the global orthopedic market, announced the release of THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT® to its Members. The highly anticipated report provides orthopedic product segment sales forecasts for joint replacement (hips, knees, extremities), spine, trauma, sports medicine and orthobiologics through 2022. Market share for the largest companies—DePuy Synthes, Stryker, Zimmer Biomet, Smith & Nephew, Medtronic, Arthrex and NuVasive—and companies with revenue over $100 million help medical device executives track and assess competitive developments and bolster business plans.
Download a report sample here: https://www.orthoworld.com/orthopedic-market-report/
This new report also provides analysis and insight into robotics in the operating room, the proliferation of additive manufacturing in orthopedics, device company and supplier consolidation, the rise of ambulatory surgery centers and innovative companies to watch such as Corin, LimaCorporate,…
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