The Future Of The CBD Oil IndustryAlex
The CBD market is exploding- affecting industries as diverse as cosmetics, food and beverage, and pharmaceuticals. The CBD market has generated considerable headlines, providing fodder to umpteenth analysis and forecasts. In 2018, the CBD market exploded with a large variety of new products. Plenty of companies were looking to take advantage of the new opportunities. As of 2019, CBD sales increased by around 133%, to the tune of over $1 billion. That is right; one billion. The market has plenty of consumer demand to back it up, and Americans are loving their CBD. What is the future of the CBD oil industry?
Forecasts from cannabis researchers BDS Analytics and Arcview Market Research projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024. The CBD industry is also growing across the globe. The Centre for Medicinal Cannabis estimates that the CBD market in the UK is currently worth around $377,055,000 per year and that it will be worth almost $1.25 billion per year by 2025.
66 percent of hemp-derived CBD consumers in the U.S. agree with full federal legalization of cannabis, with 90 percent believing that marijuana has medical benefits; and CBD consumers are an average age of 40, have higher education, and are more likely than non-consumers to be employed full time.
The Future Of The CBD Oil Industry
As the research receives more and more funding, we are learning all kinds of new information about CBD and its effects on the body and mind; and not much of that information is negative. The demand for CBD products only continues to increase as the years go by, so at this point, the only way to know for sure where CBD is headed is to wait and see.
That being said, the market shows potential for growth and continues to gain traction as more and more people try and love CBD products. This makes for an excellent investment opportunity if you know what you are doing and where to put your money.
Almost like every other industry out there, there are those looking to make a quick few bucks by ignoring and abusing the quality standards and putting out a sub-par product just to get it on the shelves and into the hands of paying customers.
With little regulation on CBD products from government agencies, the standards in the industry are generally set by the top providers and cannot exactly be enforced.
This leads to general flooding of the market with sub-par products. Many of those “off brands” end up on store shelves as retailers try to get their hands in the CBD market. Many CBD providers are working awfully hard to ensure their products meet certain standards. Those are the companies you will want to keep your eye on.
CBD in Australia
Is cannabis legalization heading “down under”? A new survey suggests that more Australians than ever are ready to take the leap.
The 2019 edition of the National Drug Strategy Household Survey conducted each year by the Australian Institute of Health and Welfare, a government agency, found that 41 percent of Australians support the legalization of cannabis, compared with 37 percent who were opposed.
That makes 2019 the first that more people were in favor of legalization than against it, according to the institute. The survey produced another milestone. For the first time, pot had a higher level of personal approval of regular use by an adult than tobacco.
The market seems to only be headed upward as time passes. There is also more money for research and much less stigma surrounding CBD and cannabis. Also, there is the potential for massive growth as the public slowly shifts its opinion on the plant itself. With projections in the billions of dollars for the future, it is safe to say that this market has a bright future ahead of it.
The better we understand CBD, the better it can be marketed. We have already found dozens of incredible benefits for the human body, and we are sure to find more as our understanding of CBD evolves. We just have to be patient and wait for the research! CBD is also quickly becoming a mainstream word within the medical, health, and fitness worlds. People are using it to feel better in everyday life.
Looking to the future, there is little doubt that CBD will grow in popularity. In the future, we will be seeing more fully licensed pharmaceuticals. Here, it is just a matter of time.
At Verde CBD Products we are geared to begin supplying you and your clients with our fabulous and affordable CBD products. Sign up today by submitting the wholesaler application. We know your customers are interested in these groundbreaking products that will help life become a little less pharmaceutical.
Shop our complete line of CBD products – Wholesale CBD oils, vaping pens, edibles, gummies, and more. Additionally, all our products include the highest quality, 99.9% pure CBD. For years Medix CBD has been protecting the cannabis industry with the purest CBD oils. Discover the healing powers of CBD and check out our entire product collection.
We have spent several years conducting research to understand how and why CBD works. All our products are also produced in clean, modern facilities, every ingredient is lab-tested. It is our mission to protect the CBD industry by only providing the highest quality.
We are fast, efficient, and always reliable. Also, our dedicated team processes orders on a day-to-day basis. Whether you have a personal order or a store order, we can—and we will—fulfill your needs promptly and thoroughly. We also proudly distribute to stores nationwide and our products are available in all fifty states.