What Will the CBD Industry Bring into the New Decade?
As we say goodbye to the decade, we find ourselves reflecting on all of the things that have changed throughout the past ten years. For CBD enthusiasts, it’s hard not to marvel at the way in which this industry has flourished in such a short period of time. At the start of the decade, barely anyone knew what CBD was. Now, we’re seeing medical experts and mainstream brands raving about this plant-based compound.
Therefore, it’s safe to say that the next decade will be an exciting one for the CBD industry. But, just how exciting? Well, judging by the way things are going, we have some predictions regarding the directions that the industry will be taking over the next ten years.
Why the CBD Industry Isn’t Going Anywhere
The CBD industry is becoming more financially successful with each passing year, and those who have invested in CBD stocks are seeing fantastic returns. Industry experts predict that the market will only continue to grow over the next few years, and even financial experts are predicting that the industry will be worth tens of billions of dollars before the decade is through. Few wellness products have seen success quite like CBD. What sets this plant-based product apart from the rest is that it has the scientific studies to show that it has the potential to live up to its claims.
What to Expect from the CBD Industry in the New Decade
Now, lots of big-name companies have invested in CBD, so we know for a fact that the next few years will bring even more hemp-infused goods to the market. Therefore, it’s clear that CBD isn’t going anywhere.
#1: A Wider Variety of Products
When the CBD industry first started out a few years ago, it was rare to find products aside from tinctures, vape oils and edibles. Now, we’re seeing a massive variety of CBD products, including CBD-infused topicals, beverages, bath products and even beauty products. As more studies demonstrate the potential therapeutic benefits of hemp, and more companies develop technology that allows it to be more easily added to different formulas, we know that the market will diversify like never before. So, expect to see far more applications of CBD than we have in the past.
#2: More Mainstream Accessibility
In the early days of the hemp industry, it was pretty difficult to find CBD products unless you were willing to search the internet specifically for CBD products. Now, however, we’re starting to see that CBD products are being sold in mainstream stores, such as supplement chains and mall kiosks. We’ve heard rumors that commercial pharmacies and department stores are looking for ways to produce their own lines of hemp-infused goods, so expect to see CBD products more and more often when you’re out doing your regular shopping.
#3: More Recognition from the Medical Industry
We also expect to see CBD being used in clinical settings more and more frequently, and this has to do with the fact that the medical industry is starting to take CBD very seriously. The medical industry’s warming up to hemp has a lot to do with the profound number of clinical studies that have been done over the last few years. So, don’t be surprised if your doctor starts suggesting specific CBD products to you during your checkup.
#4: A Wider Variety of Strengths
If there’s one thing that we’ve learned about CBD over the last few years, it’s that users respond to different strengths depending on their needs and their bodies. So, we are pretty sure that the range of strengths available will increase dramatically in order to accommodate a wider range of daily users.
#5: More Water-Based CBD Products
Early on, CBD extract could only be combined with oil-based products because of its oily consistency. Now, thanks to nanotechnology, we’re able to produce CBD compounds that easily dissolve in water. This is one of the reasons why CBD beverages are predicted to be the next big thing. So, keep your eyes peeled for more water-based CBD products in the future.
#6: More Brick-and-Mortar CBD Stores
As CBD becomes more and more accepted by the mainstream, we anticipate seeing a lot more brick-and-mortar stores that are primarily dedicated to selling CBD products. As the demand for CBD grows, more shops will open up in neighborhoods around the country.
#7: More Positive Studies Relating to CBD
We are certain that more clinical studies supporting CBD will pop up over the next few years. Due to the industry’s popularity, the medical community is investing more money into studying hemp in order to determine whether or not it can be used for specific therapeutic purposes.
#8: More Affordable Products
It’s possible that CBD will become more affordable in the future. As more money is invested into the industry, greater technology is being developed that has the potential to bring down manufacturing costs. This means that the cost of CBD products may decrease gradually over the next few years.
The CBD Industry is Clearly Thriving Right Now
And, it’s safe to assume that it will only grow to be more successful in the years to come. We anticipate many advancements in technology and formulations involving the cannabis plant. We can’t wait to see what the next decade has in store for the hemp world.