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Recently, we have witnessed a lot of media and public attention on the potential commercial and medicinal use of a specific five-fingered plant. Cabbage, Mary Jane, Blaze, Pot, Aunt Mary, Ganja, you can any of these or other 100 names identified for this plant by the DEA in America.
Alright, yes, we are talking about cannabis. Traditionally, cannabis hasn’t enjoyed an excellent reputation around the globe, in general, and in the U.S.A, in particular. But now, with the growing awareness, more and more states of the U.S.A are legalizing it, and it seems like the cannabis is on its way to redemption.
In this article, we will analyze the growing market and commercial potential of the products made from cannabis. We’ll also discuss why more brands should get into this business and what incentives they should expect.
CBD Is Hitting Some High Numbers:
CBD or cannabidiol is the legal cousin of THC and is a non-psychoactive product. THC is the chemical responsible for the psychological effects of marijuana, mainly. If we talk about an element that has conquered industry after industry in recent years, it has to be CBD. Its spectrum revolves from food and beverage to health, beauty, and even more so in, shall we say, private markets.
Following the sting of legalization and gradual increase in the availability of the products involving CBD, in the last five-ten years, this market has exploded, and it is apparent with the increased cannabis packaging wrappers around us. There is a report released last autumn suggested that this industry could hit $22 Billion in the U.S. alone by 2022. It is important to note that the entire organic food market in the United States is expected to reach $70 Billion by 2025, which is yet another astonishing figure.
There is always this question of on-going researches on the CBD, and are the benefits feasible? FDA is working on regulating the distribution of CBD and its products; however, it is not stopping entrepreneurs from coming with miraculous innovations from CBD.
Current Streaks Of Success:
The current success of CBD has led to the comparisons between it and bitcoin stellar ascent in late 2015 and early 2016. You can also call it the new avocado toast. It is no bragging, and it is reflected in the global popularity of the product. Just at last Oscars, the Oscars goodie bag featured products which were CBD-derived and celebrities like Mandy Moore and Martha Stewart or getting it on the action.
Go with this, a New York Times article discussing the CBD and its apparent potentials got shared across the web 35,000 times, which assures you that CBD will go viral sometime soon. It also has other reasons to go famous for, for example, when the authors are praising it like ‘’It is easy to wonder if the CBD is all-natural, non-psychotropic, and widely available relative of marijuana represents the cure for 21st century itself’’.
But What Does CBD Do, And What Are Technical Reasons Behind It Going Viral?
CBD is one of the many chemicals extracted from the cannabis plant, and as opposed to THC, it does not provoke psychoactive reactions. Instead, it appears to be all healing and having miraculous properties. Primary research indicates that CBD has anti-inflammatory properties, as well as reduces anxiety and stress, thus making sleep more peaceful.
And as this was not enough, CBD also ensures that your skin glows, and it fights aging skin cells, as well as acne. If it is not the perfect cure for the burdens of modern life, what is?
So far, the research on cannabis has concentrated more on using the CBD in the fight against health conditions like epilepsy. Thanks to cannabis and CBD, a whole new dimension of wellbeing is emerging. On the other side, it has also raised a new type of cannabis consumer.
A New Type Of Cannabis Consumer – CBD Fans!
The typical CBD consumer is someone far from the stereotypical cannabis fan. He doesn’t have any tie-dyed t-shirts, any stoner attributes, or munchies. He is very different from the cannabis fan depicted in Dazed & Confused.
People who turn their ways to CBD are not seeking to obscure reality, like in other addictions, with a mellow haze. CBD fans are looking for new ways to boost their body’s cognitive functions, tackling particular health-related troubles, or they just simply want to look younger. ‘’Younger and relaxed’’, as the brands’ advertise it on CBD boxes.
There is something particularly exciting about CBD. It is the flexibility of the options, a product that quickly finds its application in multiple industries, all at once. It is not just excitement for the health business, but also for food and beverages, as well as for the cosmetics, and the entire beauty industry.
Myriad options of CBD have flashed the imaginations of ‘’cannapreneurs’’, and we are witnessing an excessive use of CBD in:
- Coffees: There are coffee brands that infuse coffee with the CBD, and it is said to nullify the harmful effects of coffee on health.
- CBD-infused bath bombs: What better place to use CBD than in the bath bombs for curing muscular pains?
- Beauty: Face creams, lip balms, shampoos, serums, and everything in between, CBD is making its way in the entire industry.
The Potential Of CBD In 2020, And Beyond:
We know that the last decade wasn’t for cannabis, but it was all about HIIT, CrossFit, Bikram Yoga. But this decade is undoubtedly going to be dominated by the future market of CBD with a simple premise to chill.
CBD fits perfectly in this paradigm shift. More and more people around the world realize that ‘work hard’ problem is leading to burnouts instead of fortune and success. People are more about themselves now, with a focus on mental wellness and self-care, and they now have CBD for that.
However, it is not the paradigm shift for every age group, but only of the people between the age group of 25-45. We can’t comprehend for sure how much it is going to grow in the rest of the world, but in the United States, we are witnessing this, and it is not stopping anytime soon.
However, for now, the social media accounts of CBD are not catching up with the trending beauty and food brands when it comes to social interaction on the web. But as it stands, it may be just a matter of time when CBD brands are top-followed on social media. The popularity and outreach of CBD posts on social media will depend on the capacity of the brands to appropriate the existing visual codes of social media life. They would also have to invent the new codes to dispel the stigmas attached to cannabis throughout history.
Conclusion:
It is not too late for entrepreneurs to jump into this market, but very soon, it may as well be. Fast forward to the third decade of this century, the new focus on wellbeing asks us to wind a little, slow our pace down, and get some headspace. So, what better fit for these times than CBD, a substance that does everything we have been looking for?
