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Recent News from MFG Tray

Cannabis Processing Trays: The Key to Growing Your Business

Posted on November 8, 2022

With more states embracing legal cannabis every year, the cannabinoid industry has been growing like a weed. In order for businesses to capture their share of the booming market, they need to consistently produce high-quality products year-round. To do that, they need the right tools for the job.

In this piece, MFG Tray, a premium material handling solutions provider for the cannabinoid industry, discusses the current market, why processing equipment is essential to increasing profits, and our upcoming exhibit at Marijuana Business Conference & Expo.

The Growing Cannabinoid Market

Many states are loosening regulations across the United States. There are currently 39 states (and the District of Columbia) where medical marijuana is legal. Of those 39 states, 19 of them have made recreational and adult-use cannabis completely legal.

As a sapling industry, the cannabinoid market’s main driver of growth has been medical use, as a growing body of research has shown that cannabis can treat a variety of symptoms and conditions, such as chemotherapy-induced nausea, Parkinson’s, and Alzheimer’s. In 2021, the medical segment held 80 percent of the industry’s revenue share.

But with today’s looser regulations, recreational and adult-use marijuana has put the pedal to the metal. In fact, 51 percent of adults over the age of 21 have consumed marijuana in the past six months.

By the end of 2022, analysts predict the global legal cannabis market will reach $33.2 billion. Further, with a 14.3 percent compound annual growth rate (CAGR), the market is expected to reach a staggering $56.6 billion by the end of 2026. Some analysts believe the CAGR may be as high as 25.5 percent between 2022 and 2030, which would lead to a $102.2 billion market.

Despite incredible growth, the cannabis market has gone through its fair share of hardship. Between supply chain issues and government shutdowns, the pandemic severely impacted the industry. Data shows that the legal marijuana market decreased by a whopping 32.4 percent from 2019 to 2020.

Accelerate Your Drying

New Territory: Cannabinoid Derivatives

Businesses in the cannabis industry are exploring new territory, far beyond the traditional dried flower. These product options include, but are not limited to:

  • Concentrates
  • Edibles
  • Nonalcoholic infused beverages
  • Oil and Tinctures
  • Topicals

Because of better medical applications and marijuana users’ new consumption preferences, the oil and tincture segment now makes up roughly 50 percent of the cannabinoid market.

Furthermore, it’s no longer just tetrahydrocannabinol (THC) in these products. It’s cannabidiol (CBD) and delta-8 tetrahydrocannabinol. These derivatives now make up a $5.18 billion piece of the pie.

Handling Your Product

Investing in high-quality processing equipment is essential to delivering a top-tier product year-round. From trays and flats to storage containers and custom solutions, businesses are looking to boost their bottom line with material handling equipment that can stand up to the demands of the industry.

Traditionally, processing equipment such as trays and storage containers were either plastic or stainless steel. The problem is, plastic can crack and sag under heavy loads, and stainless steel options dent and bend. But today, there is a third option: glass-reinforced composite.

Glass-reinforced composite processing equipment is dimensionally stable and will not rust, warp, or sag under heavy loads. Additionally, unlike metal, they won’t dent, corrode, or bend.

With so many benefits to composite material, MFG Tray products have become the go-to choice in the cannabis material handling space. Moreover, MFG Tray’s cannabis processing products:

  • Resist odors, chemicals, and mildew
  • Conform to FDA Regulation Title 21 CFR 177.2420
  • Clean, stack, and store easily
  • Have high-weight capacity and rigidity
  • Come in multiple sizes
  • Provide uniform temperature distribution
  • Increase airflow for drying

From drying to storing, MFG Tray’s cannabis processing products deliver exceptional durability and performance for all your cannabis processing techniques. And this November, we’re showing off our product line at this year’s Marijuana Business Conference & Expo.

Marijuana Business Conference & Expo

MJBizCon brings in over 35,000 cannabis executives and staffers from around the world, from cultivators and processors to investors and start-up founders. It’s also the #1 global cannabis business conference and tradeshow.

During this 3-day conference, MFG Tray will be joining more than 1,400 industry suppliers on the Expo floor – Booth # 8427. Come and say hello to our team and learn about how to get your raw product ready for sale with better processing and storage equipment.

Helping the Industry go Higher

MFG Tray offers unparalleled options for cannabis gummy and soft gel drying trays, oil vial trays, storage containers, and customized composite material options. Our cannabis processing products deliver exceptional durability and performance for every stage of cannabis processing.

Ditch the plastic trays and containers and opt for glass-reinforced composite products that are dimensionally stable and will not rust, bend or sag under heavy loads. If you’re unsure if our products are right for your business, reach out to MFG Tray today or visit us at MJBizCon.

THE MATERIAL MATTERS

Leading manufacturer of high-strength, glass-reinforced composite containers, trays, boxes, flats and totes for material handling in the metal working, plastics and electronics assembly industries, as well as in food service, confectionery and pharmaceutical processing.

MFG Tray continually develops customized solutions for specific material-handling challenges and applications. Customers are encouraged to contact MFG Tray to discuss any unique handling and design requirements.

 

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