The CBD market continues to remain healthy and strong despite the widespread economic decline. No matter what part of the cannabis industry you cater to, these are a few of the emerging CBD trends to keep an eye on this year.
Demand for CBD Remains High
There were widespread predictions that the CBD market would cool down, but that effect has failed to materialize. Instead, demand for hemp, CBD and other cannabis products has remained steady or increased each year. As more scientific research becomes available supporting its effectiveness, growth will continue, and perhaps even accelerate even further.
New Products Are Emerging
While tinctures, oils and lotions are still popular, there are also newer items that are starting to draw a much later share of the cannabis market. A few examples of CBD product trends that you’ll want to keep an eye on throughout the next year include:
- Pet products
- CBD-enhanced beverages
- Patches and other transdermal delivery systems
- Skincare products
Regulations Are Still Shifting
Even though cannabidiol and hemp-derived products have been widely available for several years, the regulations that govern them are still shifting. From acceptable levels of THC to labeling and storage requirements, there is a lot of new information to stay on top of. These changes and the difficulties in achieving full compliance make having the right insurance more important now than ever before.
Keeping up with emerging trends helps you to see which direction to take your business in. The CBD market should remain strong in the coming year, with an emphasis on quality, new products and changing regulations.