It is never wrong to suggest that all industries are confronted by certain opportunities and challenges. However, the CBD industry is in a distinct position. After all, this is a substance that was illegal federally before the 2018 Farm Bill was passed.
Hemp-derived CBD that has at most 0.3% THC is considered to be federally legal. However, the use of CBD still faces certain regulatory gray areas. Indeed, the ambiguity this creates has led to formidable challenges in terms of the production and marketing of products.
Despite this, the industry is growing dramatically. Besides CBD, Girl Scout Cookies strain and OG kush are some of the most popular marijuana strains that have gathered much attention in recent times. It is indeed an exciting time in the CBD world.
This might have many wondering what exactly is the latest in the CBD industry and what the future holds. This article will look into the current CBD retail trend, how the pandemic has affected cannabis retail, and more.
What is the current CBD retail trend?
The CBD industry has seen a dramatic rise over the past couple of years. Yet, data gathering and further research concerning the efficacy and safety of CDB are still being broadened by the FDA. The government, alongside several pharmaceutical companies, has been carrying out different studies to investigate the therapeutic use of CBD.
Researchers have made significant efforts to promote public education and awareness around CBD. As of the beginning of 2021, 47 states in the US allowed the use of CBD in specific ways or forms. CBD experienced a soaring start in 2021. CBD is everywhere as it finds itself infused into different incarnations, including facial masks, toothpicks, clothes, and more.
Besides this, the negative impact of the COVID-19 global pandemic cannot be neglected. Indeed, this was a difficult time for the whole world, with lots of uncertainties that are hard for most people to deal with. As the pandemic persisted, many showed several symptoms of mental stress and fatigue while they coped with the situation. It is no exaggeration to suggest that the pandemic has significantly affected customer buying behavior.
To deal with this, many started using CBD for pain and stress relief. There is evidence that proves that the use of CBD provides several benefits for human health. CBD-spiked beverages are growing in popularity and acceptance. They might represent an alternative to other drinks with other supplements in them.
Furthermore, CBD is meant for everyone. It is possible to start seeing various ad campaigns and other marketing endeavors that are tailored toward a wider range of audiences. Producers and retailers of CBD are exploring possible ways to link up with underserved consumers. With so much attention focused on CBD, consumers are only going to become smarter over time. With greater awareness, savvy consumers will probably have more realistic expectations, which implies that greater satisfaction will be experienced with CBD.
What Does The Future Hold For CBD Retail trend?
Even though it was only made federally legal a few years ago, lots of studies have been done (and are still being carried out) to see whether CBD can offer a positive impact on human health physically and emotionally. The focus that is placed on the health benefits CBD can provide ensures that it remains relevant for years to come.
Furthermore, CBD producers have started adopting the use of data and direct interaction with consumers to provide products that meet unique needs that are specific to a segment of CBD users. This Biden administration has shown a progressive interest in cannabis. There seems to be a rather warm reception towards the use of CBD. This could ultimately ensure that it is no more a controlled substance, resulting in changes in taxation. For this reason, users may enjoy easier access to CBD products.
Gone are the days when the thought of using cannabis or CBD products invoked fear of legal consequences. However, in recent times, CBD has shown immense promise as a treatment for several mental and physical health issues. For now, it is a product that is enjoying so much attention across the far reaches of the globe. Can it continue on this current upward trajectory? Even though all evidence supports this, only time will tell!