With the passage of the 2018 Farm Bill, the way was cleared for the use of cannabis for medical and adult use. From this point forward, the market for CBD was unlocked, lighting the way for a multitude of CBD-derived products. As one might expect in these cases, a wave of market trends began that continue to this day.
By 2019, the CBD market had gone mainstream with not only new products but a host of new users as well. These users, in turn, were driving a need for products centered on self-care and mental wellness. What follows are a few market trends for 2020 to watch for. You can get more information at i49.
Growth of CBD Products for a Specific Use
Cannabis makers exercise a lot of creativity in their efforts to introduce new derivative products to the market. In many cases, these products are aimed at their use for specific purposes. These include inducing sleep, minimizing pain, and restoring energy. There is no such thing as one-size-fits-all CBD products. Even if you want CBD for recreational or medicinal use, there are specialty niche products to choose from.
Growth of Micro-Dosing
Gone are the days when CBD might be taken in a single dose. To improve effectiveness, smaller doses—called micro-doses—became the best way to get most CBD health and wellness benefits. This method is most popular among those who prefer CBD tinctures and oils. This is because it is easier to measure the correct dosage using this method, unlike edibles, topical solutions, and flowers.
Finding Trustworthy Distribution Channels
Just as is the case with so many other industries where there is a growing demand for a product, consumers must deal with many distributors who are in it for a quick buck. As a result, finding trustworthy distributors whose primary purpose is to make money by selling a quality product becomes more difficult.
Increasing Social Consumption
Using CBD in different forms is the new cool. As a result, social occasions have become a venue for consumption. These events are popular with recreational users when they want to cut loose, celebrate, and hangout with like-minded people.
Development of Water-Soluble CBD Products
One of the most revolutionary developments in an already bustling CBD industry is creating water-soluble products that increase the speed at which the body absorbs them. As a result, users feel the benefits of CBD sooner.
The water solubility of CBD also reduces some of the negative aspects of taking products, such as short shelf life, lack of clarity for dosage levels, and bad taste.
The Emergence of an Aging User
As can probably be assumed, as popular as CBD and its derivatives are, there are still significant demographics that hesitate to accept the products for any uses. This is changing, however, as more—specifically older—users take CBD for its benefits.
Increasing Number of Branded Products
There was a time shortly after 2018 when users bought CBD in any way they could get it, whether in the form of edibles, flowers, or gummies. Regardless, they were nameless and in bulk.
Today, although some users still buy unbranded products, a growing number prefer branded products. They are becoming more ubiquitous on store shelves.
All these market trends can mean only one thing: CBD is poised to continue its current growth pattern. Further, it is also likely that, in the future, consumers will continue to enjoy CBD products in more ways than ever.
Interesting related article: “What is Cannabidiol?“