2019 has been a very exciting year for the CBD industry. There have been lots of changes, and countless people around the world have discovered CBD for themselves. New businesses have flourished, too, and developed exciting products that continue to push the industry forwards.
With things changing at a breakneck pace, the end of the year marks the perfect time to take stock of the industry and look back at some of the key developments. Equipped with a better idea of where we’ve been, we’ll also be better able to predict what 2020 has in store.
The Top CBD Stories From 2019
There have been lots of standout moments when it comes to CBD in 2019. We would love to hear if you have any stories or moments to add to this list – be sure to reach out and let us know if you have anything to add.
1. CBD product sales surged in the UK
These statistics demonstrate that CBD is enjoying a very high profile in the UK and that it continues to grow in prominence with each passing day. Many analysts believe that Q4 is going to see even faster growth for the latest wellness product, so we’ll be sure to keep you updated with the latest figures as we enter 2020.
As more products continue to hit the market and the general awareness of CBD continues to spread by word of mouth, we can expect this trend to continue throughout the next year.
If you would like to read more about how CBD might grow further, be sure to look at our nine signs CBD will flourish in Q4 2019.
2. A CBD-based drug for childhood epilepsy was approved for use in the UK
Research into the efficacy and application of CBD is still ongoing. The medical community is working at an impressive pace to explore new potential uses for cannabidiol and this is creating some very interesting findings.
In September this year, the first cannabis-based medicine for childhood epilepsy was given the green light from European authorities. This means that Epidyolex will start to be used throughout the EU thanks to approval from regulators.
This medicine can be used to help children suffering from seizures related to two rare forms of epilepsy. The medicine can be used by the 10,000 children and young adults who currently suffer from the conditions in the UK.
The medicine itself is an oral cannabidiol solution that tastes like strawberries. It is taken twice a day and helps people to better control seizures and achieve a better standard of living.
This same drug was recently legalised in the USA where 15,000 young people are currently treated with it. Chris Tovey is the COO of GW Pharmaceuticals, the UK manufacturer of the drug. In a recent interview, he said that the feedback in the US had been incredibly positive and that he’s optimistic the medicine would be funded by the NHS.
This excellent story is a highlight of the year for people who follow the CBD industry. It’s a great sign that CBD can achieve amazing things, and that the hard work of medical and pharmaceutical companies can change lives.
We will continue to watch this story with interest and we really do hope that families across the UK manage to achieve a better quality of life thanks to this medicine.
3. “Gourmet” CBD-infused jelly beans hit the market
This next story demonstrates how varied and lively this year was in terms of CBD. Earlier this year the creator of the original Jelly Belly beans explained that he has created an exciting new line of “gourmet” CBD-infused jelly beans.
In the interview, David Klein explained that there are currently 38 flavours of jelly beans out there and that candy lovers can access the goodness of CBD with those sweet treats. The product is performing well, and it appears as though the voracious appetite for sweet CBD products means that they are currently sold out.
The success of Klein’s product demonstrates that there really is a growing appetite among customers in the UK for a diverse set of CBD-infused products. This underscores the opportunities that currently exist for businesses looking to diversify their product lines and unlock the potential of CBD.
If you think that 2020 is the year that you would like to capitalise on the potential of CBD, be sure to read our piece on how to create and launch your new CBD product. You’ll find a step-by-step guide that can help to put you ahead of the competition.
4. Ben and Jerry’s announced it has a CBD ice cream in the works
David Klein wasn’t the only quick-thinking expert with the idea for a sweet CBD treat. Ben and Jerry’s – one of the world’s largest ice cream companies – has announced that it has a CBD-infused ice cream ready for production as soon as CBD is legalised in the USA on a federal level.
The CEO of the company explained that the CBD-infused product has been created due to high demand from fans. Again, this shows that there is a strong demand from the average consumer for these types of CBD-infused products.
In terms of lessons that we can learn from this story, you should be sure to listen to your customers. Make sure that you constantly keep an ear to the ground and think of new ways to meet the evolving needs of your customers.
If you haven’t reviewed your products in a while, for instance, you might decide that 2020 is the year to reinvigorate your product range. Who knows, CBD might play a role.
Ben and Jerry’s have the luxury of a very strong brand name. This is going to ensure that as soon as their product hits the market, it’s going to be a huge success and the profile of CBD will hit new heights.
As a smaller player, though, you’ll need to think of new ways to build the reputation of your CBD product. That will help you to secure a foothold within the minds of your customers and boost your revenues. If you want tips, be sure to read our step-by-step guide on how to build the reputation of your CBD product.
5. Walgreens started offering CBD products
Walgreens is a true retail giant and it’s one of the biggest players in the USA. Back in March the company announced that after “thorough review and analysis”, it had decided to stock CBD products in almost 1,500 Walgreens stores in select states.
The product range includes a number of topical creams, sprays and patches. Walgreens explained that by offering those products, the company was striving to meet its goal to make great health and wellbeing products available to its customers.
The product range has been wildly successful since and again, this demonstrates that even the big players in the retail space are beginning to serve the needs of their customers when it comes to CBD.
If you are thinking of making a step into the CBD space, you can draw confidence from the fact that even some of the world’s largest companies are leading the way. If you manage to offer a high-quality CBD product that’s backed by the right strategy, you’ll be able to find success.
6. The world’s first CBD hotel opened in Essex
We have covered the launch of some pretty conventional products so far, but this one was very exciting and it made a big splash in 2019. Earlier this year, Tim Acton opened the world’s first CBD hotel called the Green Coffee Lab in Essex.
The hotel includes a number of different CBD products that delight customers during their stay. Visitors will enjoy CBD-infused shampoo, for instance, as well as access to a number of CBD-infused drinks and snacks. Light fittings were made using only hemp, too.
In his interview with The Independent, Tim explains that he believes “CBD has become accessible in terms of the stigma that cannabis had.” He believes that a shift in perception has helped his hotel to launch successfully.
This was a big story in 2019 and it demonstrates that experiential products are also a big hit with customers. When it comes to CBD, you don’t have to restrict yourself to physical products – you could think of new ways to help people incorporate CBD into their lives.
7. CBD skin care products grew in prominence
The skincare industry is thriving and CBD has cemented itself as a potent beauty ingredient in the eyes of customers. Customers love to use this product and we’re going to see this trend extend into 2020.
In the UK, Holland and Barrett is one of the country’s most prominent stockists and it is really leading the way when it comes to the growth of CBD within the health and beauty space. Celebrity endorsements are also pushing the profile of CBD when it comes to skincare, too.
If you offer creams and lotions, you might want to consider bolstering your existing product line with a CBD-infused offering. This could help you to capture part of this impressive growth and serve your customers with the products they love.
8. The first CBD cafe launched in Scotland
This year, the first CBD cafe launched in Scotland too. Stirling city centre is now home to the CBD cafe and it gives locals the benefits of CBD alongside beautiful drinks and snacks.
The opening of this cafe demonstrates that there are lots of diverse opportunities for entrepreneurs within the UK. CBD is growing immensely in terms of popularity and there are high street opportunities.
Perhaps you’re interested in launching a thriving CBD business in 2020. There are lots of similar stories that have emerged this year, so there are many opportunities for you to learn from others and launch with confidence.
9. A number of celebrities endorsed CBD
The profile of CBD reached new heights this year due to a number of high-profile celebrity endorsements. Celebrities have been using their star power to champion the growth of CBD in general, and they’ve also been pushing their own products into the public eye.
Stars like Kim Kardashian and Willie Nelson have seen the potential of CBD and they’ve decided to lend their names to various products. This brings a lot of eyes on CBD products in general and it means we can expect customer demand to expand even further.
If you are thinking about launching your CBD product in 2020, perhaps you’ll want to make the most of celebrity endorsements. If that’s the case, be sure to read our piece on how to use celebrity CBD endorsements to sell your CBD product.
Wishing You a Successful 2020
As you can see, 2019 was quite the year for CBD. We are confident that 2020 is going to be equally as exciting, and we hope that you’ll be able to capture a part of this immense growth.
If you are going to make a step into the CBD space, you’ll need the best CBD in the business to back you up. The best wholesale CBD can help you to grow the reputation of your product and delight your customers by meeting their needs.
We know that you want nothing but the best. That’s why you should shop with CBD Capital. It’s our pleasure to offer the very best isolate in the world so that you can take your products to new heights. Our global approach means that you’ll only get the best product that has been extracted using the most efficient extraction techniques.
Is 2020 going to be your year? Be sure to learn more about our products today and get in touch with us if you’d like to discuss your idea further.