Synthetic Cannabinoids: Weed Market’s End Destination?
As the cannabis market pressure reaches a boiling point, companies are turning their attention to alternative and cost-effective cannabinoid production practices. This is where the artificial synthesis of CBD, THC, and others in this group, comes into play.
The popularity proof is the explosion of their market to a global worth of $1.4 billion in 2019. What’s more, the market is projected to rapidly expand (CAGR of 21%) until 2030, following Market Research Inc. data.
What are synthetic cannabinoids?
They are manmade cannabinoids, chemically identical to those extracted from plants and acting on the same receptors in the human body.
Researchers have identified over 100 naturally occurring cannabinoids in the cannabis plant, and, so far, over 84 types of those have been artificially synthesized.
- Lower retail prices!
- Production of high-potency concentrates that can be more effective in the treatment of seizures, chronic pain, etc.
- Exploring and using benefits of cannabinoids like CBG and CBN, or others found in traces.
- Boosting clinical research, by making cannabinoids more available
- Reduced production expenses
- Faster production
- Impurities-free products (pesticides, heavy metals, etc.)
- Environmentally-friendly manufacturing
- Ditching plant’s biomass residue
- Completely THC-free products
- Easier import and export
Most of the organic supplements we use like vitamins are synthetically made, still, customers worry about the toxicity of manmade cannabinoids due to the association with illicit drugs like K2, Spice, and Fake Weed.
These use the term synthetic cannabinoids, even though they are not the same molecule, but an analog of THC, mimicking its effects.
- Excludes benefits from the entourage effect (terpenes and other cannabinoids)
- May hinder job demand in the cannabis industry.
- There are higher chances of products entering the illicit drug market.
While some companies are rubbing hands at the possibility of artificially made cannabinoids, most are too suspicious to enter these “uncharted waters”.