The cannabis industry has been experiencing a surge in growth over the past few years. Even though cannabis was legalized in only ten states, it has been quite successful so far. As of 2020, the legal cannabis market was worth $12.81 billion.
The CBD industry is expected to reach $25 billion by 2025. However, due to its illegal status at a federal level, many brands have to operate gray.
This is where trends come into play. Trends are not only an indication of what’s working and what’s not, but they can also help you gain recognition in the market even with limited resources. Below are 7 trends that are influencing the CBD market:
Consumers are becoming more aware of CBD’s medical benefits
The CBD market is attracting much attention from consumers and manufacturers due to the reported health benefits derived from its use. It is derived from the cannabis plant, containing over 100 cannabinoids, including CBD and THC. CBD has been shown to relieve many ailments positively.
In 2017, the University of California at San Diego School of Medicine released a study that found that subjects with autism spectrum disorders experienced significant improvements when using a combination of CBD and THC.
Consumers are becoming aware of the medicinal benefits of CBD as they choose to use it instead of traditional medication. As awareness grows, more consumers will turn to CBD products instead of conventional medicine and other natural alternatives such as acupuncture or aromatherapy.
Retailers are selling a wide array of CBD products.
CBD retailers utilize CBD’s versatility and sell products across multiple industries. In addition to the usual lineup of oils, capsules, tinctures, and gummies, the market thrives with CBD-infused beauty products, CBD topicals, and pet products.
The range of CBD products allows consumers to explore their preferences and find one that works best for them. For example, if you’re looking to treat pain with CBD, you could try a topical product or an edible such as a gummy or capsule to see which one works best for you.
Retailers have been incorporating many of these new product categories into their inventories. While they are all under the same umbrella of “CBD,” each has unique benefits and flavors.
With so many options available to consumers, retailers need to know each product category. Before purchasing a product, most consumers will want to understand the differences between an edible, a tincture, or a topical.
Gummies and edibles are a close second.
CBD edibles are a popular option for CBD users. These products come in various forms, including gummies, cakes, chocolates, and drinks. Edibles are easy to consume and provide a discreet way to take CBD.
Gummies have proven to be the most popular edible on the market. Gummies are small treats in various flavors, shapes, and sizes. They’re also one of the most affordable options and straightforward to make at home. Gummies can be flavored with anything you want, including fruit juice or distillate oil. They’re also very easy to dose because each gummy has a certain amount of CBD in it. You can further explore these edibles at best CBD gummies
Packaging is also essential when it comes to edibles. The packaging must be child-resistant and display the amount of CBD in each serving and the total amount contained in the package.
Pet owners are using CBD for their pets.
CBD oil is being incorporated into the lives of humans and their pets. The pet CBD market is predicted to reach $4.79 billion by 2028.
Pet owners are using CBD for various reasons, including treating pain, inflammation, arthritis, separation anxiety, sleep problems, and more. But before you give your furry friend CBD oil, there are a few things to keep in mind:
Not all CBD products are safe for pets. If you’re buying a product for your pet, make sure it’s specially formulated for animals. Many human-grade CBD products contain ingredients that can be harmful to pets.
Consult with your veterinarian. It’s an excellent idea to see your veterinarian before giving your pet any new supplements or medication. Your vet will recommend a good dose of CBD oil and answer any questions about its use.
Start with a tiny dose and go slow. Like humans, every dog or cat responds differently to CBD oil. Start with just a little drop or two and wait about 24 hours before giving more. You can always increase the dose slightly if you don’t see the desired results after a couple of days.
The cosmetic industry is all set to be disrupted by CBD.
Recently, big names in the beauty industry like Sephora and Kiehl’s have started to sell CBD-infused beauty products.
Is there anything that CBD cannot do? It is used to treat anxiety, insomnia, pain, and even cancer. It is also being used in beauty products to cure acne and anti-aging.
According to Statista, the CBD product market in the USA will be worth $25 billion by 2025. CBD has become a part of consumer products, from tinctures to capsules, chocolates, and skin creams.
Industrial hemp is a type of cannabis with less than 0.3% THC content, making it legal in most states of America.
Conclusion
Even though CBD is still a relatively new product in the mainstream market, many notable trends have emerged in recent years.
