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The CBD market is one of the fastest growing industries in the world. It was valued at around $9 billion in 2020, but is forecasted to more than double that amount and surpass $23 billion by 2025. This forecast is based on the increasing awareness and demand for CBD as a health supplement. The greater awareness comes from new research into the benefits of CBD and a greater concern for the negative effects of traditional over the counter and prescription medications.
If you are thinking of investing in CBD businesses, or want to start one of your own, you should be aware of what the future of the industry is. For now, there is a smaller number of CBD products that are available at most retailers like Joy Organics, but the number is growing fast, as more manufacturers think of new applications to meet consumer demand. Here are three CBD products that are forecasted to explode in popularity
1. Edibles
Edibles and drinkables are already a common CBD product you will find at virtually every CBD business. For now, this is usually confined to treats. Things like gummies, chocolate, lollipops, and other candies are common, as are various baked goods like brownies or pastries. However, CBD can be infused into virtually any kind of food, including healthier ones.
Things like salad dressing, cheese, cooking oils, and more. Rather than just getting edibles from CBD-specific businesses, in the near future we may begin to see CBD-infused foods and ingredients for sale in cafes, natural food stores, and regular grocery stores. Having CBD food being available in common, everyday stores will help the market for edibles explode.
2. Water-Soluble CBD and Drinkables
The market for CBD-infused drinks has always lagged behind edibles, and for good reason. It is a lot more difficult to infuse any food or drink that has a high water or liquid content. The common form of CBD after being extracted from cannabis plants is as an oil, which naturally separates from other liquids.
However, that doesn’t mean there isn’t any demand for it, or that CBD drinkables are impossible to make. More manufacturers are finding new and better ways to accomplish it, which will lead to two new products related to drinkables that will explode on the market. Drinkables themselves will become more common, and like edibles may start being carried at restaurants, corner stores, and grocers. Water soluble CBD, which already exists, may become more common for people who want to make their own drinkables with CBD at home.
3. Skincare Products
The final industry that has already seen a large growth in the introduction of CBD products, is skincare. You can already find topicals such as lotions, balms, creams, moisturizers, sunscreen, and more. However, they are only recently beginning to be picked up by the big skincare and beauty brands on a more common basis.
The reason why CBD will become more common in skincare is because it is a natural source of some of the highly in demand ingredients that are always in demand. Things like antioxidants and omega fatty acids have always been used for anti-aging and promoting better skin health. Hemp, from which CBD is derived, is very eco-friendly and sustainable to use as a source of these ingredients, which helps the image of a lot of skincare brands.
If you want three types of CBD products that are set to explode on the global market, you can start with these three. Any major brands that emerge in the industry will likely come from one or more of these product types and find innovative new ways to create, source, market, and distribute these products to the growing market of interested consumers.
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