By Kris Peck, Cannabis Market Manager
With the legalization of cannabis in many states across the USA, the concentrates market is poised for major growth. According to DBMR, experts expect the marketwill grow at a rate of 31.9% from 2020 to 2024, with the combined market value reaching USD $45 billion by 2024.
In more mature cannabis markets in the United States, BDSA Analytics shows that the California and Colorado markets have a significant amount of concentrate sales with 29.9% and 29.6%, respectively. With cannabis oils making up a significant amount of the market, processors are trying to keep up with demand while simultaneously trying to keep costs down.
But how can you identify areas where you can save money? Operational expenses are always a good place to start. For example, in the extraction process, specifically, post winterization, several issues commonly increase operating costs such as:
- The long and laborious time to process out waxes or lipids, upwards of eight hours per batch
- Product loss through processing or inefficient processes leading to breaking beakers or spillage
- Multiple passes through equipment to remove waxes or lipids
- Multiple passes through equipment to remove color
Cannabis companies encountering some of these issues might consider filtration solutions to improve their process, thus enabling them to run their business at lower operating costs.