The CBD industry is already a multibillion-dollar industry because people are deeply into CBD consumption and this love for CBD doesn’t seem to stop anytime soon. That means more and more people will continue consuming CBD to heal their various health issues and this $7.8 billion dollar industry will also continue to grow. It reflects that the industry will continue to see transformations, advancements, hurdles, struggles, and rise of many trends.
So, along with consuming CBD products, CBD users should also keep an eye on the dynamics of the industry to stay updated and informed about the changing industry trends. It is important to make better CBD buying decisions and know where things are going.
So, here are a few industry trends that look to stay strong in 2022:
1. Increase in CBD Research
Legalization hurdles have kept research on CBD under the carpet and there are very few clinical trials of CBD impact on humans. We know only those benefits of CBD that its proponents have poised, like it works great for the treatment of anxiety, depression, insomnia, cancer, heart disease, addiction, etc. But these benefits are not clinically proven.
However, after the legalization of CBD federally in 2018 and permission to grow marijuana for medical purposes, there is a clear shift in research on CBD. Many universities’ professors and FDA authorities are conducting research on the benefits of CBD, clinical trials are also underway. It seems this trend will continue this year and gain momentum in the future.
2. CBD for Pets
This fact has become clear that CBD is not only for humans. You can give it to your pets as well. Many pet owners are buying CBD in different forms for their pets, like cat seafood CBD treat, tinctures, oils, to cure different health conditions such as anxiety, inflammation, pain, stress, etc. But sometimes it becomes hard for the pet owners to administer CBD because of the limited available product.
So, there is a huge margin in the pet CBD industry to scale the process by introducing various other CBD products. 2022 is going to witness an increase in CBD products for pets that are easier for the CBD owners to give and stressless for pets to consume.
3. Betterment in Payment Processing
CBD manufacturers and vendors have long tolerated negligence and mistreatment by others. The main issue has always been payment processing. It is hard to find a quality payment partner. First, they don’t work with the CBD vendors because of the grey area surrounding this business. Secondly, if someone agrees to work with them, they demand high liability fees and strict contracts. In either case, CBD vendors are facing huge challenges in this area.
But slowly, things are changing for the vendors. With the growth in the industry and increase in the consumers, things have started becoming easier for the CBD business owners. The acceptability has increased and the need to give higher liability fees is minimizing.
4. Consumer Diversity
Marijuana has long been stigmatized as a dangerous product used by homeless hipsters wearing torn pants with hair locks dangling behind. So, let’s admit that initially, every new person who found that CBD is derived from the hemp plant used to think the same about CBD consumers. But now things have changed, so is the demographic of CBD consumers.
It has not remained a consumption substance for hipsters alone. More and more people are consuming CBD products and there is a huge diversity in consumers. From a college boy in his early 20s to a professional woman working in a prestigious enterprise, all are consumers of CBD. And this trend is going to become stronger this year and this diversity will become wider.
5. Doctor Recommendation
After the legalization of CBD products and improvements in the research sector, it is expected that doctors will pay more attention to recommending CBD related products. In fact, the FDA has already approved a drug called Epidiolex to treat seizures caused by Dravet Syndrome or TCS. And this is just the beginning. As research and trials will improve and increase, more CBD-infused drugs will capture the market. It is likely to give heads up to doctors to start recommending CBD drugs to patients that will be better than consuming without advice.
The CBD market is expected to grow to $43 billion by 2025. This increase in market growth gives signals regarding betterment in the industry processes and trends. New trends will emerge, some will be beneficial while others will end up as a lesson. But one thing we know for sure that the CBD industry is here to stay and it will only grow for the better. So, being a CBD consumer, producer, or seller, it is better for you to stay up-to-date with the rising industry trends so that you can cope up with the changing scenarios.
Latest posts by Martin B. (see all)
- How to Use Cannabis Seeds - March 10, 2023
- Why do you choose these disposable vape kits 2023? - March 6, 2023
- How To Make The Most Of Dry Herb Vaping - February 27, 2023