Did you know it is estimated to be worth $20 billion by 2022?
The CBD industry has seen a surge in popularity in recent years. Over the past few years, sales of CBD related products have increased and generated a large amount of buzz due to their medicinal health and wellness benefits.
So, when did all of the excitement start and what has made experts so sure that the CBD industry will soon be worth billions?
Business is Booming
CBD has its roots set in a variety of different industries ranging from cosmetics to beverages and seems to consistently surprise experts with its growth rate.
The difference comes from the newest estimate’s inclusion of products sold through licensed dispensaries as well as general market retail providers.
Integrating CBD Into the Mainstream
It is no question that these impressive projections can be attributed in large to CBD oil’s integration into mainstream society.
There are a variety of different factors to thank for such a spike in popularity over the years. The first of these are the various scientific studies published that show the great benefits CBD can offer.
With the emergence of research put towards exploring the compound, the public has become more willing to accept the value CBD oil can bring to their lives.
FDA approval of cannabidiol-based pharmaceutical was also integral in bringing CBD to the attention of the public with the introduction of Epidiolex, a drug used to treat Dravet syndrome.
This condition can be life-threatening in many cases and the idea that the federal government was willing to extend approval of a cannabidiol-based substance was enough to get many people interested and excited.
Innovation in the CBD Industry
Looking at the CBD industry and how far it has come overall, it seems clear that this is just the beginning. CBD has become the topic of much interest and new frontrunners emerge to offer their innovations.
Gone are the days where CBD oils were the main ways of consuming CBD (even if they are still very popular).
Over the years, new ways to use CBD have burst onto the scene and it seems that there’s a new CBD product to try nearly every day. Regardless, CBD products generally fall into five primary categories:
- CBD oils
- CBD vapes (including dabs and wax concentrates)
- Topical creams
- CBD capsules
- CBD edibles (CBD gummies are a widely popular example)
Investing in the CBD Industry
There’s no better time than now to invest in the CBD industry considering that it will reach a value of $20 billion by 2022 based on the most recent projections.
Investing could bring about some very real profits in the future. It could very well be time for you to consider taking your piece of the CBD industry pie!
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