The CBD industry is booming. Countless consumer-facing food and drink businesses are capitalising on the popularity of cannabidiol by investing in quality CBD products.
Have you invested in a CBD product yet? The sooner the better. You should make sure to capitalise on the explosive growth of CBD to meet your customers’ desires and boost your bottom line.
Here’s a look at the top ten reasons that CBD is going to continue its explosive growth throughout the fourth quarter of 2019 – and far beyond into the new year.
9. Consumer demand continues to grow
All signs show that consumer demand for CBD continues to grow at a breakneck pace. In fact, estimates show that the global CBD market is anticipated to be worth a staggering $20 billion by 2024.
This value is being driven by consumer demand, which in turn is being driven by a host of factors including that:
- People are becoming more open to the idea of using hemp-derived products
- Anxiety and stress are big issues across the world
- Aches and pains are becoming more common than ever before
These factors will continue to drive the growth of CBD over the coming months and years. If you want to get a more developed idea of how effectively your CBD product meets the needs of your customers, be sure to learn how to collect customer feedback on your CBD product.
8. Payment processors are embracing CBD
One of the biggest barriers facing players in the CBD industry was a lack of financial services support. This was an issue because these payment processing providers often had outdated policies on selling controlled substances.
With the passing of the Farm Bill, hemp and its derivatives were made legal in the US. This means that payment processing providers have been putting the infrastructure and legal framework in place to process the payments related to the sale of CBD products.
Square has done a fantastic job and made itself the first to market. In a blog post published this week, it outlined the details of its CBD early-access program.
While this does not have an impact on those sellers operating in the UK, it’s still a positive sign that the global industry is moving in the right direction and that sellers in the UK can look forward to experiencing improved infrastructure and support.
7. More products continue to emerge
Another factor that makes CBD so popular is an expansion in terms of the variety and number of CBD products available on the market. This variety means that consumers have countless ways to unlock the benefits of CBD in a way that fits with their priorities and tastes.
As new products continue to emerge and hit the shelves, the profile and legitimacy of all CBD products is elevated. This helps the industry as a whole and it means that more customers become acclimated with CBD and what it can do for them.
There are a wide range of unique products available on the market. Earlier this year, Carl’s Jr experimented by offering a delicious CBD burger for just one day in Denver. This is just one example of the way that big brands are getting in on the action.
There are also lots of protracted rumours about how Coca-Cola and other food and beverage giants are eyeing the promising CBD industry. While some of those rumours have been proven false, it’s just a matter of time until a big player makes their entry into the maturing CBD market.
When that happens, we can look forward to CBD’s popularity hitting new heights and securing an ever stronger foothold within the public consciousness.
6. The “Farm Bill” has matured for almost a year
On December 20, 2018, Donald Trump signed the 2018 Farm Bill into law. This important law did not make many significant changes to the farm and nutrition policy in the US, but it did deschedule a range of cannabis products from the Controlled Substances Act.
While mirijuana is still illegal in the US, the bill has done a great deal to facilitate the commercial cultivation, processing and marketing of hemp. This has helped farmers and other processors to generate additional revenue, and it also means that it is now easier for businesses to find the high-quality CBD that they are looking for.
Again, this does not have a direct impact on businesses within the UK but the success of the bill demonstrates that there’s voracious appetite for CBD products among customers in the US and beyond.
The legislative acceptance of CBD around the world is also helping to facilitate the growth of the CBD industry and legimtise those products in the eyes of consumers.
5. Big players continue to invest
If you want a good way to assess the health of an industry, you should always look at the level of investment that is being made by big players. The CBD industry has very consistent growth potential over the next decade and as such, it has certainly appeared on the radar of large investors.
In the US, there are a range of companies securing success in the CBD space. Just this week, a new player entered the market: International Flavors & Fragrances. This company provides flavour compounds to the food and beverage industry.
Now, the company has decided to invest in the CBD market and produce a range of CBD products. This company isn’t alone, either: Abercrombie & Fitch and American Eagle Outfitters have also made steps into the market.
The fact that such large businesses have faith in the power of CBD should give business in the UK a lot of faith in the potential of the CBD market.
4. Medical research continues to uncover the potential of CBD
The buzz around CBD began within the medical community and those researchers and medical professionals are still uncovering the wonderful potential of the cannabinoid.
Just this week, researchers at Western University announced that for the very first time, they uncovered the molecular mechanisms that make CBD so effective at counterbalancing the psychoactive effects caused by THC.
This is a very exciting finding that could have far-reaching implications for the CBD industry as a whole. The team are going to continue their work to try and uncover new ways to formulate THC with fewer side-effects while also discovering new methods to make CBD-derived therapies even more effective.
Each of these exciting studies helps to deepen our shared understanding of CBD and elevate its profile in the public eye.
3. The Arthritis Foundation is embracing CBD
Arthritis is a very serious condition and it affects the lives of more than 10 million people in the UK. The condition can lead to restricted movement due to inflammation and it is often incredibly painful.
Thankfully, CBD is emerging as a natural solution so that those 10 million people can tackle their arthritis effectively. This is possible because CBD has anti-inflammatory properties that help to ease the burden on joints and other areas.
As more and more people suffering with arthritis begin to uncover the potential of CBD, we can expect for the CBD market to experience explosive growth. That came one stop closer this week, too, when the Arthritis Foundation released CBD guidance for adults with arthritis.
This is very promising news. The guidelines mean that more arthritis sufferers will be introduced to the potential of CBD and that CBD businesses will benefit from a new group of excited and enthusiastic customers.
2. Celebrity endorsements are growing
Celebrity endorsements can help to push products to new heights and it’s also a sign that a particular product is reaching the mainstream.
A range of CBD products are receiving strong celebrity endorsements these days, a sure sign that the reputation of CBD is growing and that new customers are going to begin exploring the potential of CBD for themselves.
Kim Karashian recently explained in her interview with People magazine, for instance, that CBD has helped her get through a lot. The beauty superstar explains that she uses CBD as a natural alternative to prescription medication like xanax and that it’s also very helpful when trying to fall asleep.
These endorsements are more common than ever before and celebrities are trying to capitalise on the promising potential of CBD. Here are just some of the various celebrity-led initiatives that are growing:
- Willie Nelson is launching a range of CBD products
- Rob Gronkowski – the NFL legend – launched a line of CBD products in partnership with Abacus Health Products
- Mark Wahlberg plans to release a range of CBD-infused products in the near future
There are countless other instances of celebrities and superstars mentioning how CBD has helped them in their interviews.
1. The holiday season will provide growth
While high street stores are still struggling with slow sales, the upcoming holiday season always produces a boost for customer-facing companies. Shoppers are often on the lookout for an exciting gift that has a personal touch, so a CBD-infused product is the perfect candidate.
We are confident that companies with a CBD offering will witness a strong end to the quarter and the year as more eager shoppers are on the lookout for CBD than ever before.
Grow Your Business with CBD Capital
We hope that you have a fantastic quarter and that your CBD products sell well. As you can see from the signs above, things are looking very promising indeed for the CBD industry.
Here at CBD Capital, we are confident that 2020 is going to bring even more growth and excitement. Our clients are experiencing growth and their products are selling well – our high-quality wholesale CBD certainly plays a role, too.
Are you thinking of creating a CBD product for your customers, but you’re not sure where to get started? We have put together the following resources to help you:
9 Steps to Put Your CBD Product Ahead of the Competition
So, you’ve decided to make the leap and invest in your very own CBD product. But how are you going to stand out from the crowd in such a competitive and ever-evolving industry? You’ve got to develop a strategy.
In this guide, we take a look at the nine steps that you can take to put yourself ahead of the competition to meet your customers’ needs and boost your bottom line.
How to Build the Reputation of Your CBD Product
In the nascent CBD industry, reputation really is everything. If you decide to launch a product and try to grow your revenue, you’ve got to consider how you are going to grow the reputation of your CBD product.
In this guide, we take a look at why your reputation matters so much and some of the steps that you can take to grow it so that your customers trust in your product.
How to Help Your Customers Shopping for CBD
CBD is very popular – but your customers are often still uncertain about whether or not to take the leap. If your product is going to succeed, you have to be ready and waiting to offer expert advice that informs and calms your customer.
In this guide, we explore the steps that you can take to make sure that your customers are satisfied and informed so that they can make a purchase.
How to Communicate the Benefits of Your Products
There’s a very good chance that your customers have a basic understanding of CBD, but the benefits of your particular product may not be immediately clear to them. It’s very important that you learn how to articulate the benefits of your product to make it attractive and distinct from the other options out there.
In this guide, we look at the steps that you can take to make sure that you are effectively communicating the benefits of your CBD product to your customers.
If you are still interested in finding out more about CBD and taking your first steps, it would be our pleasure to help you. We would be very happy to discuss your plans with you and offer you the guidance that you need.
Here at CBD Capital, we offer the best wholesale CBD on the market. Be sure to get in touch with us today to discuss how we can meet your needs.