The legalized CBD based wellness product market is expected to grow within the next few years. If you are interested in learning more about this future, we got you covered. In this article, we will discuss what the future holds for the best CBD oil, tincture, and other CBD based products that are intended for health and wellness. Without further ado, let’s start:
The reason for CBD based wellness product’s popularity
The main reason for the expected growth of CBD based wellness products is because of their status as a product intended for health and wellness, in addition to being a remedy for various illnesses.
Back then, hemp based products have a reputation of being a product used recreationally to experience the high feeling closely associated with it. It is also being used to treat serious illnesses like seizures or epilepsy. Having said that, only THC has that intoxicating effect, while CBD has none. As this confusion clears, CBD based products are finally getting traction. CBD based products sales are projected to go as high as 22 billion dollars within the next 3 years.
The reach of the popularity of CBD based products
CBD based products have become so popular that they even gathered the attention of Wall Street investors. There are even stores like Sephora that designates major shelf space for CBD based products.
Tilray, a cannabis company, has also finalized a deal worth 100 million dollar to manufacture and sell various products based on the hemp plant, which includes various CBD products. Other companies are also entering the CBD market with various deals of their own, such as Constellation Brands, Altria, etc.
The effects of CBD popularity on THC
Interestingly, the growth of CBD based products also has a positive effect on THC based products even if they are really different. As stated earlier in this article, THC based products are not legalized in other places and states because of their reputation as an adult product. The growth of CBD creates brand awareness to customers and retailers, allowing them to be more open when it comes to products produced from the hemp plant. As such, when the restrictions for THC is lifted, stores and consumers will be more willing to sell and purchase such products.
Products that use CBD as component
Nowadays, there are multiple types of products that use CBD as component. CBD is being used in products like bath bombs, oils, tinctures, edibles, face creams, as well as products intended for pet usage.
As mentioned previously in this article, there are also edible CBD products that are on the rise, such as gummy bears, snacks, baked products, as well as beverages.
Health and wellness benefits of CBD
Manufacturers claim that CBD products work for a lot of things, from muscle pain, headaches, anxiety relief, various skin problems, as well as providing overall relaxation and comfort. CBD is even stated to calm hemorrhoids and relieve cramps and pain associated with menstruation.