The past couple of years have been monumental to the growth and development of the CBD market. There has been a dynamic surge of sales in the CBD and cannabis markets and this is due to the changing times. There is an obvious growing acceptance of CBD and cannabis products as more legal markets are opening in different regions of the world. Members of the populace are also growing more knowledgeable about CBD and other cannabinoids which are pushing inquiry into their products.
As we walk through 2021, there are some major trends that are poised to take over the CBD market. Read on as we critically assess these trends.
A wide array of oddities and potent products
One of the major things that stands out this present time from others is knowledge. With more things being known about CBD and invariably cannabis, there are expected to be changes in some respects. One of those areas is the type of CBD strains available. Due to the work don’t with hybrid strains, there are more potent strains of cannabis available now than before. These potent strains are then repackaged into different product forms further improving diversity. The product is a market filled with a wide array of potent products in different forms. This is a trend in the cannabis market that is bound to continue with the turn of the year as more products are making their way into the market.
Another added advantage growing side by side with the wide array of potent products is the growing presence of oddities in the CBD markets. The CBD market has seen different innovations both in terms of products and other oddities. CBD activewear and CBD facials are top among the list of oddities. 2021 is expected to see the growth of products such as CBD-infused beverages and multivitamins infused with CBD in the market. The presence of these products further means that the FG will have more work to do to ensure regulations. However, provided these products are not giving misleading information to the public and the products avoid minors, they should be fine.
Increase in CBD medical products
The year 2021 holds much promise for the world of medical research into CBD. This is because early research results and evidence of the medical benefits of CBD are compelling. This is the major cause of the surge in sales of CBD products such as vape pens, tinctures, oils, and topical creams. This trend is expected to continue and fully dominate the CBD market. The issues of measured doses for CBD products are still being worked out and the year 2021 is seen as a year for headway. This will provide the CBD market with an opportunity to make a reasonable breakthrough in terms of medical products of CBD.
Researches are ongoing into exploring the full extent of the neuroprotective activity of CBD. The early results of the research are already giving much more for optimism. The early results are driving the research forward as a world of good can be done with the neuroprotective activity of CBD. The legalization of a CBD drug called Epidiolex by the FDA for two rare forms of seizures in kids also gives room for hope.
Alzheimer’s disease remains an aspect of CBD medical research that will also improve in 2021. A study in 2017 showed the efficacy of CBD in dealing with brain inflammation which increases Alzheimer’s. More studies are going into possible CBD therapies or CBD and THC combinations. Dose-dependent investigations are ongoing with mouse models to know just how effective CBD can be in dealing with Alzheimer’s. With the presence of technological advancements to propel these studies the chance of better results in 2021 are higher. This will help to improve the popularity and use of CBD medical products beyond the ailments they are already being used for.
Consolidation and verticalization of the market
New emerging markets are characterized by fragmentation and decentralization. Competitors in the market do their best to make the most of what is available in the market. They adopt different business models, researches, and add product differences to have an edge in the market. Despite how appealing it appears, large markets do not continue that way for long.
The next step in such markets is that top firms begin to make moves to consolidate the industry. This move will seek to give the industry shape and favor the companies with vertically integrated business models. Growpacker is an example of such a firm as it helps to quickly transform ideas into products on dispensary shelves with ease. This allows for more unique products to be created and made available. It helps to give the industry structure and shape.
Consolidation of the market is also expected to allow for full incorporation of delivery services and digital payment platforms. This is sure to be needed seeing as e-commerce brands and drop shipping services are on the rise. Consolidation of the market also helps to smooth relations with the FG. With a consolidated market, the government can easily monitor the industry. It also provides them with the opportunity to get rid of the irregular components industry. They easily remove elements that propel false advertising and promotional products that target minors.
With a consolidated and vertically integrated market, the supply chains are well monitored. This helps to ensure that unverified suppliers are taken out of the equation. It also helps to reduce fragmentation and ensures a centralized market promotes the growth of the industry. These moves are expected to dominate the CBD market in 2021.
The year 2021 is bound to be a very monumental year for CBD and cannabis market. The development of these three trends will set the pace for making the year very monumental. It will set in motion necessary moves towards the growth and development of the industry. The CBD mania has gradually grown from a mere craze into a full-blown industry.
CBD TRENDS AND CONSUMER PREFERENCES, READ MORE..
WHAT GOOGLE SEARCHES TELL US ABOUT CBD TRENDS?