Are you curious about how CBD is effecting North American and global industries?
Trends or characteristics for the CBD industry are ever-changing, and here’s what we are finding:
In 2021, $5.31 billion was spent on cannabidiol (CBD) products, out of which $560 million was spent on pet CBD products.
A large percentage of people using CBD oil use it to relieve pain, but there are many other common uses for different types of CBD as well.
It is estimated that by 2025, this sector will be worth more than $20 billion globally.
This growth has been driven by an increasing awareness of the potential health benefits offered by CBD oil products, as well as its availability in a variety of forms.
As more research into the therapeutic properties of cannabidiol continues to come out and legislation changes across different countries to make access to CBD easier, we can expect further growth in this booming industry over the coming years.
Here are aspects of the CBD industry that we will cover in the coming posts:
- What’s Brewing in CBD News?
- Market Analysis for CBD
- How People View CBD
- The Future of the CBD Market
- CBD Based Businesses
- New CBD Product Trends
- Other CBD Resources
- Emerging Market for CBD Companies
- Case Study: How Bickford Flavors is Braving the Way with CBD Flavor Extracts
- The Evolving Reputation Of CBD vs Cannabis vs Marijuana
- Stereotypes of CBD vs Reality
What’s Brewing in CBD News?
If you’ve been following any online news sources, you’ve already seen that CBD oil and its variations is quickly becoming a hot global topic, as more and more people are learning about its potential health benefits.
Medical professionals AND researchers are talking about cannabidiol.
Major media outlets including CNN, BBC News and The New York Times are talking about CBD.
What’s the buzz about?
CNN has recently reported on how more and more states are legalizing CBD for medical use, as well as how to access CBD oil legally.
BBC News has also reported on the success of some companies that specialize in manufacturing high-quality CBD products.
The New York Times has written multiple articles discussing how cannabidiol is being used to treat ailments such as chronic pain and anxiety.
Other news sources have covered the potential health benefits of CBD for conditions like epilepsy and Alzheimer’s disease.
Many countries outside of North America have accepted the use of CBD oil as well.
While some other are still restricting it, the market for CBD is certainly becoming global.
Research studies conducted at Harvard Medical School have found that regular use of CBD oil may reduce inflammation and possible protect against diabetes and cancer.
We can expect to see even more coverage of this industry in the news.
This will help inform consumers who may be interested in trying out CBD products for themselves.
Market Analysis for CBD
According to a recent analysis report, the market for CBD oil products is experiencing significant growth and shows promising potential.
The global cannabidiol (CBD) market forecast was valued at USD 6.4 BILLION in 2022 and is projected to reach USD 47.22 billion by 2028, with a compound annual growth rate (CAGR) of 16.2% from 2023 to 2030.
This growth can be attributed to various factors, including increasing consumer awareness about:
- the potential health benefits of CBD
- the legalization of CBD in several countries
- and the expanding use of cannabidiol in various industries such as food and beverages, pharmaceuticals, cosmetics, and pet care.
The pharmaceutical sector is identified as the MAJOR consumer of CBD products, but there is also growing demand in other sectors.
With the increasing incidence of chronic disorders and the rising trend towards natural and alternative remedies, CBD is poised to continue its upward trajectory in the market.
These statistics highlight the positive outlook for the market and its potential for further expansion and innovation in the coming years.
How People View CBD
What are your thoughts on CBD?
Consumers view CBD oil in a variety of ways.
Many people turn to CBD for its potential health benefits, such as reducing anxiety and inflammation, improving sleep quality, and relieving pain.
Others use it for its recreational value or to explore its potential as an alternative treatment option.
As awareness of CBD continues to grow, more people are trying out the products available.
CBD gummies are becoming especially popular.
And some people believe using cannabidiol is the same as doing drugs, like marijuana.
There are still some people who have negative views of it.
Which one are you?
What kind of experience have you had with CBD?
And what have you heard?
Chances are, you have heard varying opinions and thoughts on the subject.
You or someone you love may be skeptical of CBD’s potential health benefits or concerned about its legal status in certain countries.
Others may simply view it as an unnecessary expense that could be better spent elsewhere.
Some people also worry about the possible side effects of using CBD products.
These risks can often be decreased by choosing high-quality products from reputable companies and talking to a medical professional before using any form of cannabidiol product.
We’ll talk more about CBD perspectives in the future.
Speaking of the future…
The Future of the CBD Market
Presently CBD is quite popular and succeeding as an industry.
But what does the future look like?
The future of CBD is looking very promising, as research continues to show that CBD’s health benefits may be vast with low risk or side effects.
Scientists are particularly interested in the anti-inflammatory and antioxidant qualities that may help reduce pain and inflammation that our friends with chronic illnesses experience.
As more research studies are conducted on the effects of CBD oil, it could become an increasingly popular option for treating a several medical conditions.
Researchers have begun and will continue exploring the use of cannabidiol for both physical and mental health issues such as:
- anxiety
- depression
- neurological disorders like epilepsy
- pain relief
- insomnia relief
In addition to being used as therapy, CBD also has potential uses in cosmetics products due to its ability to moisturize skin without clogging pores or causing breakouts.
There are also research studies being done to see how CBD oil could benefit cancer patients, football players, and even those with fibromayalgia.
With so much promise ahead for this powerful compound, it’s no wonder why people all over the world are turning their attention towards the possibilities offered by CBD.
CBD Based Businesses: Verify!
The market for CBD is an ever-growing market with plenty of business opportunities for entrepreneurs.
Some people use that to help people, while others want to make money without caring about the safety of their customers.
Let me say this:
All CBD businesses are NOT created equal.
Verifying the kind of hemp your CBD oil comes from is of utmost importance for several reasons.
1.It ensures that the CBD product you are using is derived from high-quality hemp plants.
Different strains and varieties of hemp can have varying levels of cannabinoids, terpenes, and other beneficial compounds.
By verifying the kind of hemp, you’ll make sure that you are getting your CBD oil from a reputable source with consistent and reliable quality.
2.Verifying the kind of hemp allows you to understand its cultivation practices.
Hemp is a bioaccumulator, meaning it absorbs substances from the soil in which it is grown.
If the hemp is cultivated in contaminated soil or treated with pesticides, herbicides, or other harmful chemicals, those substances can end up in the CBD extract.
By verifying the origin of the hemp, you can ensure that it comes from organically grown plants, free from any potential contaminants.
3.Different strains of hemp may have different cannabinoid profiles, including varying levels of CBD and THC.
By verifying the kind of hemp, you can ensure that the CBD product you choose aligns with your desired cannabinoid profile.
This is particularly important for individuals who may be sensitive to THC or subject to drug testing.
4.Verifying the kind of hemp provides transparency and promotes responsible sourcing.
It allows consumers to make informed decisions about the products they purchase and use.
With the rising popularity of CBD oil, there has been an influx of low-quality and misleading cannabis products on the market.
By verifying the kind of hemp, you can distinguish between trustworthy brands that prioritize quality and those that may cut corners.
But how do you do all that?
How can you really know whether the companies you’re looking at are good ones to buy from?
Once again, all CBD businesses are not created equal.
We don’t want to buy from just anyone, when our health and wellness is effected.
Always look for a certificate of analysis and clear labeling of products.
The certificate of Analysis is really a KEY to checking your product for quality.
For those interesting in opening their own companies, this is also something you’ll want to make sure you offer your customers.
If the FDA does start regulating CBD and cannabis more, this will also be important to make sure you are approved to stay in business.
New CBD Product Trends
We already know about CBD gummies and creams.
But are there other products available with CBD that haven’t hit the mainstream yet?
The CBD industry is full of creative and unusual products that are designed to meet the needs of a wide range of consumers.
First stop: FOOD! CBD edibles and beverages are hitting the market like hotcakes ready off the frying pan.
(The thing to watch out for, is that in some states it is not legal yet to buy or sell food that has cannabidiol added to it.)
There’s lots of options out there, from CBD infused honey, coffee and tea to energy drinks, protein bars and even dog treats.
Next stop: BEAUTY! As mentioned before, CBD has potential uses in cosmetics products.
You can find luxurious face creams, body lotions and lip balms all containing this powerful compound.
But there’s also some pretty unique beauty products out there that incorporate CBD such as bath bombs, face masks and even mascara.
But it doesn’t stop there!
There are also some unique products on the market such mattresses and pillows, clothing, nail polish, and more.
Some of these products have pretty legit benefits, while others are more hype than substance.
Many of these products offer an alternative way for people to enjoy the therapeutic benefits offered by CBD in new and exciting ways.
In upcoming posts we’ll give you some info on some of the new products you may or may not have heard of.
We hope you’ll share with us any CBD products you’ve used and how they’ve effected you.
With so many options available now and even more on the horizon, it’s no wonder that cannabidiol continues to be one of the fastest-growing industries in the world today.
Other CBD Resources
It’s important to get information about your wellness journey from reliable sources.
Just cause you heard it from cousin Mike or your great aunt Linda, doesn’t mean it’s necessarily true.
Where can you learn more legit information about CBD?
For those looking to learn more about CBD, cannabis, and the potential health benefits it offers, there are a variety of resources available:
- Educational websites
- customer service
- Scientific research studies
Educational websites!
Welcome to the digital age. Everything- literally, everything– is online these days.
There are so many informative blogs and forums online, where people can find a wealth of information on cannabidiol products, safety, benefits, and more.
For example, our CBD Ultimate Guide.
Customer service.
Many companies have customer service representatives that can answer questions about their specific products or provide general advice on using CBD for various medical conditions.
Talking to someone from a company will also help you judge whether it’s a good business to purchase CBD from.
Research studies related to CBD.
There are numerous publications from respected academic sources that cover the latest developments in this field.
Look for sites ending in .org, .gov, or .edu.
With so much information out there, anyone curious about cannabidiol should have no trouble finding reliable sources of knowledge and insight into its potential.
Never stop learning.
Learning helps keep you young, growing, and healthy.
Emerging Market for CBD Companies
One of the most exciting emerging CBD markets is pet care.
As more research is done on the potential health benefits of using CBD products, many pet owners are turning to these products for their furry friends.
Research studies suggest that cannabidiol may effect pets similarly to people.
These products can be used to help with separation anxiety, pain relief, and mobility issues.
Then we have beauty and skincare products.
Companies are now manufacturing an array of CBD-infused skincare items such as creams, lotions, masks, balms, and serums.
Research has shown that CBD can help reduce inflammation and redness in the skin while providing antioxidant protection from environmental stressors.
Cannabidiol can also be used to help treat acne and eczema due to its ability to regulate sebum production.
Another emerging CBD market is among athletes.
Even boxers and football players are using CBD for recovery, to reduce muscle soreness after workouts.
Many sports organizations have relaxed their policies on CBD use by athletes allowing them to use it both during training and competition without penalty or disqualification.
CBD appears to be a trend that will keep on trending.
Case Study: How Bickford Flavors is Braving the Way with CBD Flavor Extracts
Bickford Flavors is a company that has been in the business of creating flavor extracts for over 100 years.
They have recently branched out into the CBD industry by becoming one of the first companies to offer CBD-infused flavorings and extracts.
Bickford Flavors now offers a wide range of flavors that for cannabidiol producers to add to the products they are making.
With their expertise in developing custom flavors for different industries, including the CBD market, Bickford Flavors provides delicious and unique options for consumers.
These flavors not only enhance the taste of CBD products but also provide a pleasant and enjoyable experience for users.
Their product list has specific flavors for CBD oil.
Bickford Flavors caters to the diverse preferences of consumers as well as companies that are producing CBD products like gummies.
From fruity flavors like strawberry or vanilla, or more unique options like caramel or cinnamon, Bickford Flavors has capitalized on the market for tasty CBD products by offering a key component to creating these products.
Just about every CBD company in North America is growing, so they’ve been wise to jump on the bandwagon while there is time to do so.
Additionally, Bickford Flavors’ expertise in creating flavor extracts ensures high-quality and consistent products.
They have extensive experience in the flavor industry, working with various industries such as baking, beverages, ice cream, and now cannabidiol products.
Pretty simply, they have expanded their realm of expertise to include the huge market for CBD and reap the business benefits of it.
The Evolving Reputation of CBD, Cannabis, and Marijuana
The reputation of CBD, cannabis, and marijuana have changed in the public eye over the years.
Why?
There’s been an increasing acceptance of the therapeutic properties of these compounds.
Cannabidiol has been gaining attention for its potential to help treat a variety of medical conditions such as anxiety, pain, seizures, and inflammation.
Cannabis is now widely used for both recreational and medicinal purposes.
Once completely illegal, marijuana can be approved for medicinal use in some states.
Despite their growing acceptance, there are still some misconceptions about these compounds.
Did you know CBD is not the same at THC?
THC is what makes you high, but CBD is not the same thing.
It has calming effects that can help reduce stress levels without impairing cognitive function.
We’ve all be taught, Say no to drugs!
Marijuana is often associated with drug abuse, but research studies have shown that it may actually offer a number of health benefits when used under medical supervision.
This includes treating symptoms associated with cancer and multiple sclerosis (MS).
Education on these compounds and their potential benefits can help shape our perspectives of the cannabis plant and compounds like CBD.
Your health is worth finding out the truth.
Stereotypes of CBD vs Reality
One of the biggest stereotypes associated with cannabidiol users is that they are “stoners” who use it solely to get high.
This simply isn’t true; many people choose to use CBD for a variety of reasons.
Most people use CBD for pain management.
Others use CBD to help them with stress, anxiety, insomnia, or staying alert.
Very few people start using cannabidiol because they want to get high.
Because in reality, you cannot get high from using CBD.
CBD Industry Trends
CBD trends are certainly changing and evolving as the industry grows.
More and more companies are entering the market, leading to increased competition and diverse product offerings.
Consumers are also becoming more educated about CBD and its potential benefits, which leads to an increase in demand for high-quality products.
Some key trends that have emerged in the CBD industry include:
Innovation
Companies are constantly coming up with new and unique ways to deliver CBD, going beyond just gummies, skincare products, or even pet treats.
This keeps the industry exciting and offers consumers a variety of options.
With its increasing acceptance among consumers, more businesses are popping up offering various types of CBD products, with a wide range of options.
Regulation
As the industry continues to grow, there is a push for more regulation to ensure the safety and quality of CBD products.
This could lead to stricter guidelines and testing procedures in the future.
Additionally, researchers have begun exploring the use of cannabidiol for mental health issues along with physical ones.
Mainstream Acceptance
CBD is becoming more widely accepted in society, with celebrities and athletes openly endorsing its use.
This helps to break down stigmas and misconceptions surrounding CBD.
In 2022, up to 26% of adults reported using CBD products.
Without a doubt, CBD is proving itself to be a big deal. It’s a rapidly growing industry in North America.
Many people are excited to learn about holistic wellness opportunities that may set them free from relying on prescription drugs.
As awareness continues to grow around the health benefits offered by these products, we can expect even more people following the CBD trends.
It is safe to say that the CBD industry is an important sector in American society and CBD trends will continue to grow exponentially.
We hope you’ve enjoyed learning about this exciting industry.
Your turn… where have you seen new CBD information or products in your life that show its increase in popularity?
Share in the comments below, we’d love to hear about it.
