CBD Market 2021: Top 3 Predictions For The Year
Think about the last ten years. What do you think ruled or dominated the headlines? While this might be a little complicated to choose a single thing, one choice stayed competitive no matter the situation— CBD.
Experts exclaim that the world will see a significant consumer-driven shift in the CBD market in the coming year. Unsurprisingly, CBD will rule the market with an industrywide value of $18 billion by 2025.
But what else? We’ve made a note of some predictions that you can expect to rule the cannabis industry this year. Let’s begin!
There Will be a Shift to Natural, Clean, or Organic Products
This is not a surprise. The world is moving towards a sustainable and eco-friendly approach as a whole. As per a report, the pandemic accelerated the consumer shifts towards organic food choices in 2020. Why? It was because of the fact that people were switching more towards healthy products due to the growing pandemic scare.
In fact, organic food/beverage sales went up by 25% during the start of the pandemic months. Looking forward, experts suggest that there will be a demand for a variety of CBD options like Broad Spectrum CBD Distillate, topicals, edibles, or options containing CBD with shea or radish extracts, and so on.
And in the cosmetic market, consumers would opt for products that offer sustainability or reduced environmental impacts.
The Regulatory Authority Might View CBD Products Differently
The regulatory authority that approves the products coming to market (in the United States, the FDA) shows some signs that it might reassess its stance towards CBD. However, the products will still be available through authorized retailers only. Not only that, but it will also carry security features such as those that exist on cigarettes and alcohol. But Health Canada might review the laws again to make it less complicated.
If it happens, there will be a boost in the CBD market by leaps and bounds. One can expect to see a rise in the boutique formulas that are usually related to “extra strength” or additional benefits. This will enable it to rule as the top wellness supplement in the years to come.
There Will be an Increase in the Investments
With the approval of the 2018 Farm Bill, production and legalization of CBD became legal in the US. Many states already approved the use of cannabinoids, and with this, CBD products will gradually grow to be less stigmatized. There is an increasing trend of opening new dispensaries across the country.
Similarly, Canada is also looking at increasing the number of investors looking to invest in CBD companies. In fact, there will be ample opportunities that will offer profits and growth to the industry.
With so much scientific and anecdotal evidence coming to light, CBD is set to be one of the most popular ingredients in the years to come. And with so many products coming to the market, there is no doubt that cannabinoids will experience a boom, and the trends will keep flourishing.
So, are you following CBD trends? If not, today’s the day to start!