The experts at Medgadget predict that the CBD market will grow from $967.2 million in 2020 to 5.3 billion in 2025. That’s a growth rate of over 40% in just 5 years. More and more people are getting turned on to CBD. The cannabinoid has huge potential in demographics 65 and older. With policy changes on the horizon, the market is sure to grow past just providing CBD oil drops.
The stigma associated with CBD is wearing off. It’s taken nearly a century, but cannabis products are being looked at as having benefits beyond the munchies. As this stigma wears off, expend the demand to rise and for CBD companies to capitalize on different areas of health and wellness.
CBD Market is Getting Smarter
While many newbies are trying CBD for the first time, there is a huge base of educated, seasoned CBD vets that know the marketplace. CBD companies cannot simply get away with providing lab tests, CO2 extraction, and high CBD content.
The educated CBD consumer is looking for innovation. New extraction methods that provide users with a safer experience. Ways to increase the amounts of lesser-known cannabinoids, and the ability to max out THC levels to deliver maximum benefits.
CBD will also get less expensive. Having a hemp farm isn’t a big deal anymore. Hemp production is up 400% from 2018 Farm Bill. This means reasonably priced, high-quality CBD products in the future.
CBD retailers will have to keep up with their customers.
More Edibles
CBD gummies have already evolved from gelatin squares containing sugar and isolate CBD to organic, full-spectrum, all natural, infusions designed with a specific purpose in mind. You can already buy CBD gummies for boosting the immune system or for better sleep.
CBD brands will create new blends that contain vitamins, minerals, terpenes, and other blends to give users an experience that stands out.
Expect more creative edibles to emerge. We are especially interested in products with high bioavailability. Remember, the CBD consumer is smart in future. They are looking for products with little waste. CBD edibles that remain in the mouth for longer periods are believed to have higher absorption rates than those that are swallowed.
Beauty Products and Skin Care
CBD products are already in your girlfriend’s favorite beauty supply store. Massive companies are looking at launching CBD product lines. Infused face lotions, masks, exfoliating scrubs, and oils are just a few of the innovations set to roll out by recognizable brands outside the CBD industry.
CBD E-Commerce
Direct to consumer sales are exploding inside the CBD market and beyond. The coronavirus has kept people in their homes. This shopping trend isn’t going to go away anytime soon.
The CBD retail store is considered an essential business but that doesn’t mean they weren’t hurt by the pandemic. No one knows what shopping trends will look like once the pandemic is over. We are betting that there still will be a huge demand for CBD oil drops to be delivered directly to consumer’s mailboxes.
The Future of the CBD Market
We are excited to see the innovations, new legislation, and creative ways to administer CBD that future will bring us.
No one knows what the CBD industry will look like in one year, we are betting that the industry will become more efficient, more knowledgeable, and more creative. We also expect some major players to enter the industry. We have come a long way and are excited to see what the future brings.
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