Cannabis industry is growing at a remarkable rate and one of the top reasons behind it is the hemp-derived CBD products that are flexing on the industry. According to a study, the CBD industry is expected to be a 22 billion dollars market by the year 2022. This increasingly growing use of the CBD is a big news. In 2018, the U.S. market for the legalized CBD broke past 390 million dollars and is projected to reach 22 billion dollars by 2022.
With an ever-expanding cannabis industry, it is not surprising to know that various game-changing opportunities are appearing here and there in the industry with a data that supports initial advancement on the drugstore market. In fact, many top businesses have already announced the sale of CBD products in topical forms, e.g. sprays, patches, lotions, creams, etc.
CBD for Ailments and Wellness
To collect data on the growing cannabis industry, consumer needs and interests, as well as product sales, Headset and Nielsen recently teamed up and they collected data on the impact of CBD on the cannabis industry. The combined research found that there are huge potential opportunities for CBD across various states in the country. You might be interested in the study if you are starting your own CBD business or already own one. The opportunities include social enablement and experience enhancement which are now being addressed via drink mixes, alcoholic and non-alcoholic beverages, tobacco products, food and beauty care, supplements, holistic health and pain management for both animals and people via prescription meds and over-the-counter meds, and mitigating habits via air fresheners, odor control, etc.
When you look at the potential impact of CBD on the cannabis industry, it becomes quite clear that the increase usage has a huge impact on the tobacco-related products and OTC medicines. This is mainly because CBD and CBD edibles have excellent pain management, anti-inflammatory, and calming properties.
Vape pens aren’t the only products CBD consumers are gravitating towards; they also prefer CBD edibles, tinctures, and topicals. A reputable CBD business seeks ways to cover the expanding needs and preferences of the consumers. So, it is important for you to know that topical CBD products sales are growing in numbers similarly to the growth of CBD products for pain and inflammation.
According to the study by Headset, CBD edibles are one of the most popular and rapidly growing CBD products nowadays. Gummies particularly are becoming the face of the reactional cannabis image. So, if your CBD business is not producing CBD edibles e.g. gummies, cookies, brownies, etc., then you should definitely adjust your course and consider selling them.
In conclusion, it is still too early to understand the impacts of rapidly increasing CBD sales for the future of today’s drugstore wellness and health, as well as recreational cannabis. That being said, it is quite clear that consumer interest in CBD products, especially CBD edibles, is growing at a remarkable rate, putting CBD in a strong position in the cannabis industry.