Have you fine-tuned your strategy for tackling the unique opportunities and obstacles 2023 will bring? Here’s what you need to know about what the new year has in store for the cannabis industry, and how you can ensure your cultivation business stays at the forefront.
What’s New to Cannabis Cultivation in 2023?
Legalization and sales are rapidly advancing, creating more opportunities for growers to expand their operations nationally and globally. 37 states now allow the medical use of cannabis, and global cannabis sales are expected to reach $148.9 billion by 2031.
Cannabis growers are no strangers to the inflation challenges companies across the nation have been dealing with. In addition to these broader economic concerns, growers are seeing more competition from non-cannabis companies entering the industry. This has led to market oversaturation across the Western U.S. and, in turn, falling cannabis prices.
Technological advancements have already transformed the cannabis space, and 2023 will bring even more innovation. While not all trends can be predicted, we’re likely to see increased use of everything from artificial intelligence to IoT automation tools, like crop monitoring. Agri-tech company Bloom Automation Inc., for example, has developed AI software to improve the cannabis trimming process.
How Does Vertical Farming Fit In?
Despite the challenges, growers have the chance to capitalize on the cannabis market’s rapid growth. One of the main strategies many cultivators are using to gain a competitive edge is switching to vertical farming.
A stacked vertical setup allows growers to grow more cannabis plants and drastically increase their overall yields without needing to relocate or acquire new production spaces. Paired with the right LED lighting and airflow systems, vertical farming also helps minimize energy consumption.
Upfront costs can be large, but the efficiency, ROI, and consistency benefits of vertical grow systems have rightfully earned them the title of “The Future of Cannabis.”
How to Go Vertical
If you’re looking to expand your foothold in the cannabis market, vertical farming provides key advantages over traditional single-tier cultivation. But that doesn’t mean going vertical isn’t a daunting process. To successfully make the switch to a vertical setup, be sure to follow these key steps.
Proper forethought is critical to installing a vertical system. In addition to sourcing the grow racks that meet your needs, you’ll need to consider your HVAC, airflow, lighting, and workflows. How will these integrate with your new racking setup?
How will your grow racks fit into your facility to maximize your grow rooms and accommodate needed workspaces? Reputable solutions providers, such as Grow Glide, will be able to work with you to come up with a design plan for your unique facility. For a firsthand look at your potential setup, check out our Room Generator technology.
Vertical farming is a big investment, so you want to get it right from the beginning by working with a professional installation company. At Grow Glide, we have a certified team that will come to wherever you are and ensure your system is setup up correctly and covered under our warranty.
Grow More in 2023 With Grow Glide
From design to installation and beyond, we offer the vertical growing solutions and customer service levels you need to maximize your indoor grow operation’s potential. Connect with us to learn more about how we can help you elevate your cultivation to new heights.