A substance that was illegal before the Farm Bill passed in 2018, has now become the talk of the town and people are consuming it like anything. The therapeutic properties of CBD has made it a popular solution for people looking to cure health conditions, like pain, inflammation, anxiety, epilepsy, depression, etc. You can find various CBD products, like best CBD oil for crohn’s, tinctures, edibles, gummies, etc., from online stores and even next door drug stores.
So, no wonder the CBD industry is the fastest growing industry in history with a worth soaring to $7.8 billion in 2022 within a few years. That itself speaks of the significance of this industry and the need to further dig out the potential and future of the CBD industry.
Here are a few future predictions for the CBD industry that seem to be going strong this year:
CBD Marketing will Become More Prevailing
Despite the legalization of the CBD federally, still you don’t find so many advertisements and marketing initiatives of CBD vendors online or on traditional media. Reason? Because Google has not considered CBD as an approved substance in its paid search policy and it also penalizes sites and accounts that don’t follow its policies. So, CBD manufacturers have always faced difficulties to reach its audience. However, things are changing now.
CBD marketing is evolving because CBD manufacturers are finding unique ways to target potential customers, like affiliate marketing, reaching out influencers, and social media marketing. This is just the beginning, as CBD will penetrate our social fabric, we are going to hear CBD buzz more than before. It will be a revolutionary touch to CBD marketing.
If you think that tussle between the marijuana industry and the legal institutes is over after approval of the Farm Bill in 2018, you need to think again. After the emergence of new isomers of THC, and their increased adoption rate, legal issues surrounding marijuana have again erupted.
A few states are changing their legal definition of THC to accommodate newly found isomers under the umbrella of legal substance. However, other states are opposing its legalization. So, this legal matter doesn’t seem to settle anytime soon and this tug of war looks to be continuing in the future too.
Introduction of Unique Products
CBD is available in so many forms and you can consume it in different ways that it seems the end of advancements in CBD products. From CBD oils, cosmetics, chocolates, tinctures, cookies, balms, lotions, and vapes to smoothies, CBD is everywhere and in everything. But this is not the end of the revolution in CBD products. The list is still growing, including many other CBD products, like bath bombs, toothpaste, lip balms, body mist and so on. So, if you think that your struggle to find your favorite CBD consumption way has ended, this growing list says otherwise.
Struggle to Find Fake Sellers
As the CBD industry is growing and more and more people are trying to try their luck in this $7.8 billion industry, fake sellers are increasing in numbers. It has become difficult for buyers to differentiate fake manufacturers from the real one. This condition has rung alarm bells among CBD users because nobody likes to waste their hard earned money. But it seems as if fake sellers will continue to try their luck in the future as well, it is the buyer who has to become smart.
Here are a few tips and tricks to buy CBD products from only the right vendors:
- Always check the certificate of analysis that indicates the amount of CBD and THC and if the product is healthy enough to consume.
- See online reviews of different vendors and compare them.
- Check the price; mostly cheap CBD items are fake.
- Read out the label of the products to know added ingredients.
Though it is not possible to wipe out fake vendors, it is definitely possible to ditch them by making informed decisions.
Competition for Small Vendors
With the entry of large enterprises in the CBD industry, like Sephora and more, it is not hard to predict that small vendors will have to sharpen up their business skills to come out victorious in this rising business competition. The large companies are already making buzz in the market with their green initiatives and marketing tactics. So, it is time that SMB see where they are standing in this competitive market, how they can survive this surge of increasing CBD businesses and where they should head.
The future is going to see a tough headlock between SMB and large enterprises to run the show in the industry. It is time that both sides find ways to sustain their businesses despite all the competition.
Like any other growing industry, the CBD industry is also in a state of stir and it is going through different transformations, innovations, advancements, and struggles. It will continue in the feature and the CBD lovers will witness many ups and downs before things start settling in this arena. So, if you ever feel confused or lost in the CBD world, don’t worry, you are not alone. All the users are facing these and hopefully, in the end, we will get a fully advanced and thriving industry.