Cannabidiol or CBD has made itself a part of many people’s lives, and its popularity and use are only growing! With most people using CBD oil, CBD in other products like tinctures and gummies is also common nowadays.
CBD is being added to more and more new products daily, and we’ve compiled a list of exciting products that have come up. While some are purely for calming and recreational use, others allegedly improve health and lifestyle.
If you want to get in on the CBD industry but aren’t sure where to start then this guide is for you. Before you begin the process of starting your own CBD business you first need to select which sub-niche you want to enter. Below are some of the fastest growing market segments for your entrepreneurial consideration.
Growth Of The CBD Industry
Even though CBD has its doubters, there is absolutely no doubt that the CBD business is here to stay.
In 2018, the Farm Bill in the USA legalized the production of industrial hemp, and over the years, CBD has become a booming industry.
Initially, companies got into this sphere as an alternative or divergent from medical marijuana industries. It was much easier to grow legal hemp and process it into CBD than qualifying to produce medical-grade marijuana.
Now, the use of CBD is much more widespread, with it being in several different products in the mainstream retail chains. The sales of CBD are currently in billions of dollars, and several countries around the world are legalizing its production and use.
The projected market for the USA in 2024 will pass 20 billion USD, according to a new study by BDS Analytics and ArcView Market Research. They also predicted that the compound annual growth rate would go up by 49% across all distribution channels. With the FDA (Food And Drug Administration) and global regulations coming soon, it’s safe to say that the CBD industry is growing rapidly.
New And Exciting CBD Products
1. CBD Skin Care
Research shows that the global CBD skincare market is projected to reach 1.7 billion USD as it’s a new miracle ingredient being added everywhere!
You can purchase hemp-infused cream, lotion, serums, chapsticks, and cleansers with whole skincare lines being created for this purpose.
CBD is good for the skin due to its healing properties of being antioxidant and anti-inflammatory. It helps with dry, inflammation, and damage. It may also help those with eczema, psoriasis, and acne!
Apart from skincare, CBD lotions and balms are also used for pain relief. If you are looking to buy a CBD lotion for this purpose, make sure the CBD content in the product is high.
2. CBD infused deodorant
CBD can make you look good, and even smell good!
CBD deodorants are all the rage because they are natural compared to aluminum in deodorant, and you don’t need to worry about harmful chemicals entering your body.
The CBD oil works by killing the bacteria that cause unpleasant body odor and may even reduce inflammation in the armpits caused by razors. CBD also has anxiety and stress-relieving properties that may help people sweat lesser overall.
CBD infused deodorants are also usually combined with other essential oils to provide miniaturization and a light fragrance. Several people have now switched to natural deodorants and have given rave reviews.
3. CBD infused beverages
If swallowing CBD oil is not the way for you, you’ll be pleasantly surprised to know that CBD now comes in several tasty drinks.
As you probably know, CBD drinks will not get you intoxicated. They can, however, have calming, focus improving, and energizing effects.
The long list of CBD infused beverages includes CBD wine, water, energy shots, and health drinks.
CBD energy shots are surprisingly popular and contain CBD oil, caffeine, and vitamins, and minerals. The caffeine helps increase energy levels, and the CBD lifts the mood and gives drinkers a clear head.
Beer infused with CBD does not contain alcohol and is reportedly great for winding down and relaxing at the end of a long day. Because of the absence of alcohol, it has way lesser calories, and the best part is you won’t wake up with a hangover!
4. CBD for pets
If CBD has such great benefits for us, why not let our pets enjoy them as well! CBD is given to pets via treats, oils, or via topical application.
CBD is said to relieve stress, promote good appetite, provide pain relief, and prevent nausea and inflammation. Research is fairly limited, but studies do show that CBD may help cure dogs with osteoarthritis and epileptic seizures.
CBD is not harmful to animals, but they should only be given THC free, pure CBD. You must consult a vet or be wary of any health conditions before giving your pet CBD.
5. CBD Infused Clothing
Just when you thought you had seen it all, CBD infused clothing has now hit the market.
The CBD is added into the textiles by weaving microcapsules into it or being infused directly with CBD oil.
CBD infused garments include sleeves for body parts, sleepwear, and even activewear!
Wearing CBD clothing can provide pain relief and have calming properties. Although there have been mixed reviews, this could either be a fad or an actual business avenue. The staying power of CBD in the clothes is questionable and will likely wash out after some uses.
Millions of people are enjoying the effects of CBD worldwide, and the number is only set to grow. Several new CBD products enter the market every day, and innovations are being made daily. If you’re bored with the good old CBD oil and looking for something fun to try or giving a CBD enthusiast in your life a unique gift, these products may be worth looking into.