Since its legalization in late 2018, CBD has become one of the hottest supplements on the market. Recent survey data shows that it is used by 1 in 7 Americans, and the CBD industry is expected to more than double in growth every year for the next three years.
With a market as large and expanding as quickly as CBD, it makes sense that the industry would show a variety of trends. As such, here’s a look at some of the most prominent trends currently in the CBD industry and impacting CBD products.
The COVID-19 pandemic has, of course, taken up much of the world’s attention since it first rose to international prominence in late February 2020. Many products, sales, and marketing campaigns have shifted as a result, and CBD is no different. Indeed, CBD is now being marketed as a way to help people deal with COVID and its related stressors.
To be as clear as possible: CBD is not a cure or method of prevention for COVID. Indeed, with very limited exceptions, the FDA has said that no CBD product can be marketed with any medical claims.
However, some studies and many anecdotal reports have found that CBD can potentially be helpful when it comes to reducing stress and anxiety. As such, many marketers may try to position CBD as helping people deal with the stress in their lives caused by COVID-19.
In March 2020, the FDA released a statement on CBD, stating that it believed the compound could not be declared as safe for use and noting the potential for the compound to harm others. It has said that it will come up with a more robust regulatory and labeling scheme, but that may be years away.
For now, the FDA continues to monitor the CBD market and will periodically issue warning letters against companies that make medical claims pertaining to CBD. However, it seems apparent that the FDA will continue to issue new regulations until it develops more permanent CBD regulations.
One of the most remarkable things about CBD is its versatility. Commonly available products include edibles, tinctures, vaping juices, balms, creams, and more. However, even those products are evolving. For example, there are now CBD face masks, facials, and even CBD pillows. CBD is being sold in different foods, and CBD cooking is an entirely new CBD trend that allows for people to make their own CBD recipes.
More trends will unquestionably evolve, reacting to both the expanding CBD market and changing world events. However, for now, these are some of the most important trends in the CBD space.