CBD Industry Growth: The Future of the CBD Industry in 2022

Currently, the CBD industry worth is $3.5 billion. As with most industries, the CBD industry Growth took a hit during the pandemic due to shortages and supply chain issues.

Luckily, the industry overcomes these issues and is back on the rise. Mainly due to its wide variety of uses and applications.

Keen on learning more about the CBD industry growth? Keep reading to find out!

CBD Industry Growth So Far

In 2018, CBD was legalized by the FDA as long as the product contained less than 0.3% THC. CBD and THC often work together for maximum benefits. However, THC is the component of cannabis that produces a high.

Since 2018, the industry has seen consistent upwards trends. Each year experts are finding more benefits than ever before while conducting research and studies.

Due to the many products such as consumables, tinctures, and topicals, the CBD market has a bright future, which has been evident in the past few years.

Despite the small drawback in 2019, due to the pandemic, market trends are set to go forward even though some players are out of the game.

CBD Industry Projected Growth

There are several different reports concerning the projected growth of the CBD industry; some are very positive, claiming that the CBD industry will hit $22 billion in 2022, while others are a bit more conservative, projecting growth of $20 billion by 2025.

This is clearly a wide margin. However, we can see from the research that the market will only increase rather than decrease.

What Factors Are Driving the Growth?

In just two years, the industry has boomed and grown to be a product that is found in many households around the country. But what is driving this growth?

The answer is two-fold. One short and simple, the other long and in-depth.

The short and simple answer is that due to the benefits that experts are finding, studies show that there is a great likelihood that cannabis, specifically CBD, can be beneficial to our health. And therefore an acceptable ingredient in many of the products we consume on a daily basis.

On the other hand, a more in-depth report will show that there are several driving factors that drive the popularity of this product.

Growing Popularity in Cosmetics

In 2020, the cosmetic industry hit over $270 billion. Of course, not every product contains CBD. But studies suggest that CBD is an excellent addition to a skincare routine. Plus, it is said that it acts as an anti-inflammatory as well, making it a popular product for achieving healthy skin.

Mental Health Benefits

Although research is still inconclusive, studies do suggest that CBD is beneficial to mental health issues such as anxiety and depression.

While life is not getting easier, especially with the end of the pandemic not yet in sight, we can expect that CBD will continue to help those struggling with mental health issues. Healthcare professionals are increasingly encouraging their patients to add CBD to their medical treatment.

New and Exciting Products

Oral consumption of CBD is becoming increasingly popular. The demand is high for consumables, and that is not set to change anytime soon.

Companies will continue to invent new and exciting ways to consume CBD. The most popular CBD products currently are:

• CBD gummies
• CBD oils
• CBD capsules
• CBD teas and drinks

Many businesses are continuously working to keep up with this demand. Because of this, we can expect new products to hit the shelves in 2022.

Medical Benefits

Although CBD has some side effects, the pros far outweigh the cons.

For example, some studies suggest that CBD can help alleviate the side effects of cancer treatment, reduce inflammation caused by arthritis, improve sleep, help treat epilepsy, and overall relieve pain.

The market will increase as research increases, and we discover all the ways CBD is helpful and beneficial to our health.

National Legalization

At this time, all States have legalized CBD. However, not in every capacity. It is said that more States will follow and revise the regulation of CBD consumption and cannabis overall.

With this legalization, sales will increase as it becomes easier for products to reach consumers. More consumers mean more dispensaries, and more dispensaries mean more products and demand.

It is expected that a turning point will hit in 2022 for CBD consumption in States like California, where there are certain regulations against beverages and sales processing.

What to Expect in 2022

The year 2022 is expected to be the year of cannabis and CBD.

There are some challenges in the market, such as regulations and rules, that need to be overcome. There seems to be a hesitancy from banks to enter the market and back dispensaries financially.

Luckily, Congress is passing legislation to aid in these issues and will open many different avenues for the CBD market to explore.

Additionally, big-box stores are expected to become involved in the coming year, which will improve the overall distribution of CBD products.

Finally, education and research will surge as CBD becomes a readily available product and accepted by society as a whole as a trusted ingredient in many of our day-to-day products.

The Future of the CBD Industry in 2022

As CBD is becoming mainstream, the industry is set to grow exponentially. The future is bright for CBD industry growth, and we are excited to see where it will take us.

CBD has many benefits, and we are happy to guide you in getting the right product for you. Contact us today, or shop online for some exciting products.

 

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