2020 has been a unique year in terms of commerce and industry. The world practically ground to a halt as countries on all continents sought to deal with the Covid-19 pandemic, and the after-effects will be felt for a long time to come. Where business has been able to continue, people have been doing their best to do them, keeping supply chains open and retailers stocked and supplying essentials as best they can.
In the online retail world, business has been continuing, though some markets have felt the strain. Despite the overwhelming influence of the pandemic, the CBD market continues to grow in no small way, and further growth in the market is being seen even now. So, what are the market trends in CBD products for 2020, and what can we expect for the future? We had a look at what industry commentators and CBD users are doing and saying, so here’s a brief look at what is happening with CBD this year.
The first trend we will mention is not one that applies to usage, but to demand. The market for CBD products – as mentioned above – continues to expand at a quite alarming rate, with new designs for vape pens and mods, e-cigarettes, and more, and a rapidly evolving choice of vape oils and such in often unusual flavors.
Consumers are finding the new breed of professional, friendly, and helpful online retailer to be a breath of fresh air, and with CBD use now legalized pretty much wholesale across the USA the scope for added expansion is massive. More suppliers mean more competition, which plays into the hands of the consumer.
More New Users
One of the notable aspects of the growing CBD market has been the appearance of new users. Initially, CBD ran hand in hand with vaping in replacing smoking tobacco. This made a lot of sense as people could very quickly find e-juices that were concocted to replicate the tobacco flavor. With CBD comes a whole new class of user: those who want to get the relaxing effect of cannabis – and legally – but who do not want the psychoactive element of the raw material. Leading retailers and suppliers have commented on this rising trend, and the marketing manager of GalaCBD said that the charm of CBD will make more and more people understand it and fall in love with it. It will be interesting to see how this part of the market develops in the coming year and beyond.
Further Medical Use
Many thousands of people use CBD products to self-medicate, citing its usefulness in helping with chronic pain as a major selling point. People with problems such as sciatica and other nerve-related illnesses, and those with pain because of disabilities and ailments, report the effect of CBD as being better than regular painkillers. It is also prescribed in some places for certain conditions. We expect the use of CBD in medicinal terms to become more widespread, but as yet the necessary licensing and approval has yet to be forthcoming. Nevertheless research into the benefits of CBD is continuing in many places, and it has even been hinted that it could possibly stunt the growth of cancer cells, something that would be a major breakthrough if it is proven.
CBD in Beauty Treatments
Another impressive growth area has been that of CBD in many different beauty and skincare products. Cannabidiol – CBD in its full name – has long been believed to be useful as an anti-aging nutrient, and there are now many products that are being used with reported successful results across the world. One of the most popular uses lies in facial treatments. Spas and beauty salons are bringing CBD treatments into the mainstream by offering them as part of their menus, and off-the-shelf CBD beauty products are also commonplace in 2020. This is an area that has plenty of scope for future growth, so it is certainly worth watching closely.
Retailers have reported increasing expectance of guaranteed quality in CBD products. When the market first came to be, consumers could only take what was on offer. Now, the competition and range of available products is so comprehensive that they want only top-quality products. This has led to a rise in ‘high-end’ CBD products – including luxury vape devices, oils, and other CBD items, as people look to make their mark in what is a growing community. Just as fashion labels state your level of taste in how you look, so it could come to be that a certain brand of CBD products is the one to be seen using. This is an area of the market that is likely to be exploited by those with a strong foothold in CBD, and by innovators looking to get a piece of a lucrative area of income. Companies like Cannabotech, are also innovating CBD use with other ingredients, like medicinal mushrooms.
The Rise of CBD Cool
The legalization of CBD across the USA – and in many other countries – has brought the product out of the shadows and into the mainstream, perhaps far more quickly than had been expected. This has led to CBD now being accepted as something to be indulging in. It’s also the new ‘cool’, replacing tobacco which, for many years until the smoking bans that appeared across the world, was the cool thing to do. There’s a lot to be said for legal, licensed CBD being the thing that youngsters try, rather than them diving into h3er relaxants at too young an age. Flavors play a large part in this area of growth and will continue to do so.
The continued growth in the CBD market is, in many ways, mirroring that of cannabis, which is now legal in several states for both recreational use and to grow. CBD is a product that has a great deal of potential in medical terms, and with continued research more benefits may be uncovered. For those who simply enjoy CBD, it has been – and will continue to be – a welcome presence in a very strange year.