You may have noticed there aren't as many news articles about CBD these days. This can make it seem at first that the cannabinoid is less popular than it once was, but the truth is that it's simply less controversial. CBD has entered the fabric of contemporary American life, and nobody bats an eye at people using this seemingly harmless hemp cannabinoid anymore.
Whenever change occurs, some people see loss of opportunity while others envision new opportunities emerging where none existed before. A maturing CBD industry is actually a better industry to be in as private label CBD opportunities improve and shoppers overcome any initial qualms they may have once had about cannabinoids in general.
Mature, responsible manufacturers are leading the way forward as CBD becomes mainstream and additional cannabinoids also enter the market. In this guide, become acquainted with the most compelling reasons that now is the best time ever to enter the CBD industry.
A Brief History of CBD
Anyone who believes the ship has already sailed for CBD is simply not a diligent student of history. The industry has, in fact, never been in a truly advantageous situation before this point. Every day was a struggle for those intrepid pioneers who persisted in bringing CBD to the general public.
For a few weeks in 2017, nearly everyone in the industry was certain the FDA and DEA were about to shut down CBD for good. Then, there was a significant lack of clarity all the way up until 2021 regarding which cannabinoids these federal agencies truly consider to be illegal drugs and which ones they consider to be industrial hemp.
It's only in the last year or two that the turbulent waters swirling around the CBD industry have begun to calm, providing a much needed sense of normality that has allowed conscientious and hard-working producers to hone their craft like never before. The result is an ongoing CBD renaissance that is bringing legitimacy to the industry and rewarding shoppers with the best CBD products ever made.
Evolving, Not Slowing Down
CBD is no longer a source of massive public attention. But, do the numbers show a commensurate decrease in the real popularity of CBD - as measured by sales?
The answer is definitely no. Analysts vary in their exact prognostications regarding how much the CBD industry will grow, but both globally and domestically CBD remains on a firmly upward track that will continue delivering opportunity to those intrepid enough to find it.
Endless Product Opportunities
One way the CBD industry is evolving is in the realm of product differentiation. From the beginning, there have been many ways to use CBD, each with its own set of benefits. The uses of topical CBD, for instance, are very different from the uses of oral CBD.
Even among CBD products of a similar type, though, there are variations that might cater to a particular set of needs better than another. In the case of CBD topicals, for instance, there are oil-based and water-based approaches to take during formulation. Then, water-based CBD topicals are further split into sub-sub-categories like serums, lotions, etcetera.
For every person who uses CBD, there is an ideal product that has not yet been invented. Making that your task could be an effective way to find a unique voice as a brand, allowing you to stand out to a pre-made subset of potential customers.
Emerging Hemp Cannabinoids
As if the opportunities among CBD product types weren't enough, CBD isn't even the only cannabinoid you can put into hemp products anymore. The acceptance of CBD has, in turn, spurred the acceptance of at least cannabigerol (CBG) and cannabinol (CBN), two additional non-intoxicating cannabinoids that are now found in a massive range of new products.
Sometimes, CBD is combined with CBG or CBN to formulate products that offer the entourage effect, a type of synergy that is believed to occur between cannabinoids and terpenes. It's just as often the case, however, for CBG or CBN to be used individually. Shoppers are becoming aware of even these seemingly obscure cannabinoids, driving individual demand for CBD, CBG, and CBN.
The Hemp Renaissance Has Hardly Begun
Around a century ago, the United States federal government made its first moves to restrict the production and sale of cannabis products. Then, in 1971, the Controlled Substances Act made the cannabinoid THC federally illegal, stymieing hemp production for decades.
Given this long and sad history of prohibition, it's nothing short of incredible how quickly the hemp industry has bounced back. Already, CBD is a multi-billion dollar industry in the United States, and the hemp cannabinoid market has hardly reached its full size.
The days of reckless, Wild West business conduct may be over for the CBD industry. For those who aren't afraid to put in hard work to get excellent results, however, there has never been more opportunity at large in the hemp market - just waiting to be claimed.
