There is little doubt that cannabidiol or CBD as it is commonly referred is rising sharply in popularity since its widespread release in 2018. A recent study has revealed that products such as CBD edibles, tinctures, topical creams, and more are enjoying rising popularity that is expected to continue for the foreseeable future. This means that more people will discover CBD and make it a part of their lives.
What is CBD?
Cannabidiol is a naturally occurring product that is found in cannabis and industrial hemp. It has been used for years to treat those who suffer from epilepsy. However, it also has qualities that provide feelings of calmness and relaxation that can be enjoyed by healthy people. Many use CBD to calm their anxiety, help them to sleep, and even reduce the amount of pain they feel from both temporary and long-lasting medical conditions.
With the passage of the 2018 Farm Bill, CBD basically exploded as a product across the US in terms of sales. The demand for CBD to help treat a number of conditions ranging from anxiety to chronic pain has made it one of the most popular in just a couple of years.
Across the board, CBD has grown considerably, making it a highly desired product for consumers and investors looking to capitalize on the demand. This is particularly true in terms of skin care products which is growing at an incredible pace. The inclusion of CBD in many skin care products to enhance beauty and treat topical conditions such as minor muscle aches has made this section of the CBD industry one of the most expansive.
Another area that CBD has managed to enhance is vaping products. In 2019, CBD garnered a market share of roughly 7% in this industry which is remarkable given the short amount of time that it was available. However, the crackdown on vaping products by the FDA has limited the growth considerably and until the health issues are resolved it will probably remain stunted in terms of expansion.
Finally, there is the growth of CBD in terms of the online and traditional markets. While CBD has exploded with internet-based sites, it is the traditional or retail shops that may be seeing the most growth. It has been projected that 54% growth has been experienced in the sale of CBD products in retail stores. This growth has been seen with the rise of distribution stores that have popped up around the country.
Whether online or off-line, the growth of CBD has been nothing short of remarkable. This is true across the wide range of products that include CBD. Both major retail stores and small “mom and pop” shops are taking advantage of this growth trend.
For the many who will discover CBD and its many products such as CBD edibles, tinctures, and the like, the future appears to be quite bright. This is both in terms of consumers who want such products and producers and sellers who will benefit from getting into the CBD industry.