We already know that CBD offers a variety of health benefits, such as relief from inflammation and pain, reducing stress and anxiety, improving your mood, making you feel more relaxed and calm, fighting nausea, and so much more.
Knowing about the potential it has to offer to its users, it makes sense that the CBD wellness product market is expected to grow within the next couple of years. The reason behind this is because of their prominent status of being a product intended for health and wellness in addition to being able to help mitigate the negative symptoms of many health issues. This is appealing to many consumers, and businesses are taking notice of that.
If you are interested in learning about what the future might hold, we’ve got you covered.
Where is CBD Headed
There has been a common misconception that has surrounded most hemp products, which is the reputation for being psychoactive or being used for recreational purposes. Many consumers do not know the differences between THC and CBD and tend to group them together without knowing all the facts. Luckily, as cannabidiol has grown in popularity, people have become more knowledgeable about the two cannabinoids and what sets them apart from each other.
As the confusion clears, CBD products are gaining much more traction in the health and wellness industry, and American cannabidiol-based product sales are projected to skyrocket as high as 22 billion dollars within the next three years.
CBD products have gained so much marketability that they have gathered the attention of big businesses and Wall Street investors. The reason Wall Street is interested in cannabidiol products is that it has the potential to appeal to consumers who might otherwise want nothing to do with the cannabis industry.
This opens a new door. Since CBD infused products usually contain either no or very small traces of THC, consumers are more willing to try these products.
In addition to the attention it’s getting from Wall Street, other businesses are realizing that they can benefit from the rise of CBD products because it’s a considerably higher-margin product than dried cannabis flower or marijuana. This new generation of cannabis users are attracted to alternative consumption methods. Such as vaping, edibles, capsules, topicals, cosmetic products, concentrates, and oils, just to name a handful.
CBD in the United States
Three of the more prominent U.S. health and wellness retailers to take advantage of selling CBD based products are CVS, Walgreens, and Rite Aid. CVS announced that it would be selling cannabidiol topicals in about 800 of its stores.
Not long after their announcement, Walgreens followed their lead by stating that they would also be carrying CBD topicals in over 1,500 of their U.S. locations. More recently, Rite Aid decided to join in and carry these products in two U.S. states, Washington and Oregon. Well known beauty retailers, Ulta Beauty and Sephora, have also begun selling CBD based cosmetic products in their stores. More are expected to follow suit.
CBD in Europe
Cannabidiol is also seeing exponential growth in the European market. The United Kingdom is beginning to allow traders to sell CBD products in pharmacies. While some other countries, like Bulgaria, are being a bit more cautious in their approach.
CBD products are legal for recreational use in the majority of EU member states. While estimates aren’t exact, the cannabidiol market in Europe is worth around €450 million. Experts suggest that this number will grow by over 400% in the next three years. To put this into context, it equates to over 30% of the global CBD market.
The future for cannabidiol in Europe promising, and likely to be long-lasting and very profitable. It is likely that CBD sales will continue to increase, and fast.
Analysts and experts believe that global cannabidiol use is going to soar in the upcoming years, and predictions indicate that the European market could potentially overtake demand in the United States.
The many benefits that CBD can offer when it comes to health and wellness have set a clear path to success for this valuable substance, and many people around the world are wanting to take advantage of this natural solution for many health issues.
When choosing a CBD brand, ensure that you are dealing with a supplier who is reputable and trustworthy about their product’s quality. Check that they put effort into making sure they are providing their consumers with premium CBD products that are safe and healthy to use.