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Thought Labs

What’s the CBD Market Look Like in 2020?

CBD, cannabidiol,  is the concentrated liquid extract of the cannabis plant. It can come from either hemp plants or marijuana plants. CBD is a single compound found in the plant that contains many benefits, including:

 

  • Pain relief
  • Calming effects
  • Increased focus
  • Reduce stress and anxiety
  • Antipsychotic effects
  • Neuroprotective Properties

 

And those are just a few!

 

The CBD market has grown immensely in the last few years. When CBD came about, it was like it showed up out of thin air, and now anywhere you go they are selling something with CBD in it. It is one of the fastest growing markets in the U.S. With more money for research and people becoming more comfortable with the idea of CBD, learning more information about all of the benefits, there is room for massive growth – even more than what has already been taking place.

 

 It’s projected that by 2024, the CBD market will be worth over $20 billion.

 

Let’s talk legalities.

 

It’s easy to get confused by whether or not CBD is legal to sell, buy, consume, and produce. Simply put, CBD is legal on a federal level, but on a state-level, laws are more specific and conditional. CBD can be derived from hemp or from marijuana. Federal law states that when it is derived from hemp containing less than 0.3% THC (the agent that provides a “high”), it is legal. State law varies, so just be sure to check your state laws before taking any action.

 

The FDA has not approved all CBD, however, they have approved one CBD drug that treats severe forms of epilepsy. As the market grows and more research is done, we can expect more and more products containing CBD to be approved by the FDA.

 

The more familiar people become with this product, the higher expectations they will have for it. They will know the results they are seeing and understand that the higher quality of the CBD extract, the more potent it is, and thus better results. Consumers will be looking for quality, wanting to know every ingredient in their product.

 

If you are looking to add CBD to your supplement catalog, let us manufacture it. We’ll work with you throughout the production of your brand’s CBD products, starting with sourcing the highest-quality hemp-derived CBD isolate, full-spectrum and broad-spectrum to manufacture everything from CBD oral tinctures and lotions to CBD edibles, including capsules, softgels, gelcaps, and gummies.

 

Get in the market now! It’ll be worth it. Contact us today.