Legal Marijuana is all the rage, and rightfully so. We are in a great time as some of us watch, participate in, and consume the benefits of legal marijuana. One benefit of legalization that is coming to the forefront is the use and development of CBD products. CBD (or Cannabidiol) is one of the non-psychoactive compounds found in cannabis plants that most consider to be the “healing” part of the plant. CBD Oil is known to have healing effects on a wide range of conditions in the human body as well as in pets; essentially any vertebrate has an endocannabinoid system, which are receptors. CBD interacts directly with these receptors in the body, and produces results that can reverse or reduce conditions in the body that are compromising mental and physical health.
Now just imagine that there is a new revolutionary compound that is being made available to companies. New research is going to be done; new applications are going to be created; new products are going to be created; new markets are going to be created, and more customers are going to seek new and different solutions. This is exactly what is happening with CBD in the mix now. The interesting part is that we have not even begun to see the impact that CBD has in the world; this is only the beginning. According to research firm, Brightfield Group projections are that the market for CBD is going to be worth $22 Billion by 2022. This is like going from 0 to 100 in the next 3 to 4 years because the general public has no idea what CBD is right now, for the most part. If this projection comes to pass, and we witness a boom in the output of information and purchasing of CBD products, it is an incredibly important for companies to make their way into the industry now.
Who knew that CBD would play such a major role in the Cannabis landscape? Surely, there are some who saw it, but your average person has no clue what is coming. However, there are pioneers who see the opportunity, and they are acting fast. People like Todd Harrison of CB1 Capital who believe in the healing compounds of the Cannabis plant; So much so that CB1 Capital is a hedge fund that invests, mainly, in companies creating products that use compounds of the Cannabis plant to solve some of the biggest health challenges. “CB1” is actually the name of one of the cannabinoid receptors in body. So that can tell you exactly how passionate CB1 Capital is about the wellness side of Cannabis. From a financial standpoint, it also shows you how much they see and value the opportunity of vetting Cannabis wellness projects before the market takes off in the way that many anticipate.
The CBD industry is on the cusp of exploding; however, there is still a very healthy market for CBD products today. Currently, there are a variety of CBD products available in a variety of categories. Statista.com has provided an in-depth look at the sales of branded CBD products in the United States for 2017.
Here is a breakdown by percentage, by category, of the overall CBD sales in the market:
CBD Tinctures: 34%
CBD Candy: 20%
CBD Chocolate: 15%
CBD Pills: 13%
CBD Topicals and Patches: 9%
CBD Beverages and Infused Foods: 8%
As the market matures, it is going to be interesting to see what form of CBD the masses will gravitate toward. Right now the clear winner is the CBD Tinctures, thus far, which indicates that consumers are currently more interested in the consumption of CBD Oil directly, as oppose to the CBD-infused products. The more this market develops, the more habits may change. Let’s look at CBD Topicals and Patches, for example. When the beauty product consumers start to fully understand the benefits of CBD, you can imagine that the percentage of CBD Topicals purchased will dramatically increase as more brands create CBD-infused beauty products; The same can be said for CBD Beverages and Infused Foods; Once people start to understand how CBD can increase health, the CBD-Infused beverages and foods category will explode, as well. Right now they account for a smaller percentage of consumption.
Another factor that will help shape CBD consumer behavior will be the influx of large brands who want to participate in this new market. Anything will eat, drink and put on our skin and hair can be infused with CBD, so large brands wanting to establish themselves in the CBD product market will lean on their corporate structure, global reach, marketing success, and financial capital to roll out products that can appeal to their existing customer base.
It’s 2018 and we are still in the early days; We’ve had the opportunity to partner with some early movers in the CBD market. Fortunately, these connections have resulted in discounts for you on a wide variety of CBD products; the type of products that fit into the above mentioned categories. If you want to experience what a CBD Tincture is like, check out what www.FreshFarmsCBD.com and use coupon code: CANNABISROLLBACK to get 15% off.
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