Regulatory ComplianceĪ cannabis extraction facility needs to meet regulations that apply to the manufacturing and production of consumable goods to ensure that the safety of workers and end consumers is guaranteed. At the end of the day, you also want to ensure that the location that you settle for is readily accessible, secure and close to resources. The rules may also spell out how many cannabis facilities can be located in one area and how close to each other they can be. These rules dictate how close an extraction facility can be to a daycare facility, children’s park, school, residential areas, etc. If you are in the U.S, you will need to check the specific laws in your state. In the U.S, it is illegal at the federal level, and therefore there’s a need for judicious selection of location to avoid run-ins with the federal government. Location A schematic representation of the 7 important factors to consider when setting up a cannabis extraction facility (Figure courtesy of CloudLIMS)Ĭannabis is a highly regulated industry, regardless of the country. However, you will need to consider these 7 important factors. While setting up a cannabis extraction facility can be cost-intensive at the start, the running costs are minimal, making this a profitable venture in the long run. According to data from Grandview Research, the market size is expected to hit $23.7 billion by 2027, growing at a CAGR of 16.6%. The cannabis extraction market worldwide was valued at $9.7 billion in 2020.
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