What are the Future Trends in the CBD Industry?

The CBD industry is expected to hit a staggering $2 billion at the end of this year (2020). We can attribute this growth to two major factors. First, medical health benefits are linked to CBD. Second, the 2018 Farm Bill decriminalized the use of hemp-derived CBD products. 

What does the future have on offer for CBD, given that some states do not approve of this cannabinoid? Without further ado, let’s discuss the top five future trends in CBD.

Enforcement of CBD legalization at state level

The current decriminalization of CBD is only applicable to the federal. In a nutshell, it means that you can be prosecuted for using hemp-derived CBD products in some states. Sounds creepy, right?

If the current political and medical waves are anything to go by, CBD’s future could sooner or later be bright. Legislators are pushing for a bill to have CBD legalized across the states, owing to the cannabinoid’s non-psychotic properties and medical benefits.

CBD could be the next big thing as a health supplement

Most of the people using CBD as a health supplement do it for the thrill and fear of missing out (FOMO). However, the trend could end in the future once the research on CBD reaches advanced stages. Business forecasters are confident that more people will be using the cannabinoid as a supplement for health benefits, rather than the pressure.

The industry’s growth is not stopping anytime soon.

CBD use is becoming wider every day. People are not only using CBD products to manage their conditions but have also expanded their target to pets. With this abrupt growth, it is a matter of when every person will benefit from this magical product. Unless the FDA puts measures to regulate CBD products’ manufacture and use, the industry will continue to grow.

The versatility of the CBD market will not end

At the moment, only products derived from hemp are legal at the federal level, according to the FDA. However, going by the current trends, it would be unsurprising to see CBD products from cannabis flooding the market.

As long as the THC levels are put under control, manufacturers will cast their net wide to tap as much CBD as possible. There are high expectations that other non-psychotic cannabinoids, such as cannabigerol (CBG) and cannabinol (CBN), will also be legalized.

The CBD market is expected to fill up the market gap

The current debate on whether it is prudent to legalize CBD at the state level is creating a market gap. The demand for CBD products is higher than the supply, owing to the FDA’s production bottlenecks.

The high demand against supply is creating a large market gap, which will take time to fill. If the government loosens the restrictions on the production and consumption of cannabis-based CBD products, the market share will go high. Ostensibly, more people will be confident to invest in the industry.

CBD TOPICALS

The CBD industry is expected to experience an upward trajectory in growth in the foreseeable future. However, this poses the big question, are the masses educated enough on the CBD products? Unless they know how to choose tested and approved products, the industry could come down collapsing in the future. Going by the public’s sensitization on the CBD products, we can only expect the industry to continue thriving.

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