2021 has been a dream run for CBD products. There are hundreds of brands that have entered the market and made it diversified and rich with quality options. If you’re a CBD business owner who is selling CBD products online or at a local pharmacist store sourced from a Wholesale CBD Hemp Oil provider, you’d want to see how this astounding market will fair in 2022.
You can check the latest CBD consumer and market trends below. These will not only help you understand the growth of the industry but also make strategic decisions regarding your own CBD business.
1. CBD Sales continue to climb up in 2022
There has been an undeniable rise in the sales of CBD products in 2021 and the same trend is expected to continue well in 2022. According to New Frontier Data, the CBD industry is expected to triple its size by 2022. The market will touch $1.3 billion making it one of the fastest-growing consumer products in the country.
Why is this happening? There are several reasons for it which invariably include increasing public awareness about CBD and the deep penetration of CBD in health products. In 2021, CBD entered edible products such as Coffee, snack bars and more.
2. FDA Regulations May Observe a Shift
Food & Drug Administration (FDA) is responsible for regulating food items in the USA and it hasn’t yet given a proper green flag to CBD products to be openly sold in the market. The products are sold regardless and have to depend upon the brand’s reputation or 3rd party testing for proving its authenticity.
So far, FDA has approved Epidiolex – a drug created using CBD. But all other products such as CBD gummies, CBD tinctures, etc are not approved by FDA yet. This is a challenge for CBD brands as they have to prove the quality of their items using alternative methods.
It’s expected that FDA will take positive steps towards the full legalization of hemp-derived CBD and allow brands to sell authorized varieties of CBD.
3. New CBD Products are Coming
If you purchase Wholesale CBD Hemp Oil from your CBD supplier, be happy because new CBD product lines are coming. 2022 will see a number of new CBD products being added to the line-up, thanks to the growing popularity and demand of the same in the nation.
Some of the most common and popular CBD products include;
- CBD Gummies
- CBD Oil
- CBD Tincture
- CBD Cartridge
- CBD Topicals
You can order Wholesale CBD Hemp Oil and wholesale CBD gummies online at Super Chill Products at amazing margins. Super Chill is one of the fastest-growing vendors in New York and expanding to other parts of the country. Check out our wholesale store here.
4. Increased Global Investment
We’re witnessing a great rise in investments being made in the CBD market around the world. More governments are realizing the benefits of hemp as a healing agent and investing in the farming of the same. At the same time, more and more consumers are also becoming privy to the benefits of CBD and hemp, making it one of the fastest-selling product lines.
The same is expected to continue in 2022, wherein, we’ll see a huge rise in investments in the CBD market. New infrastructure, farming methods, better extraction techniques and quality products will emerge in 2022, giving everyone more reasons to shop for CBD.
5. Widespread Legalization
Currently, all 50 states have legalized the usage of CBD to varying levels and marijuana is on its journey towards decriminalization. As more states begin to soften the rules for using and producing CBD products, the market will only grow more.
After 2018’s farm bill, we have seen explosive growth in this sector and many new businesses are trying their hand at this still nascent market. With better laws to handle the use of CBD products country-wide and widespread legalization of CBD, we’ll the market for CBD products grow even bigger.
There are certain restraining laws in some states such as California wherein you can’t use CBD in beverages, while there’s no ban on using CBD in edible products. Such restrictions will decrease as time passes by and we can expect that 2022 will be the year when this turning point arrives.
6. More Dispensaries around the Country
Wholesale CBD gummies online is a common and famous product at most dispensaries that deal in CBD products around the country. We are expecting that more CBD-focused dispensaries would open up to cater to the growing demand for CBD products. Currently, people like buying their CBD stock from a dispensary or pharmacy as it’s much easier and more trustable. Therefore, the growth of dispensaries in the country is almost inevitable and this growth will further spark growth in the usage of CBD in everyday life.
7. Improved Sales Processes for CBD
As of 2021, we are dealing with a number of sales restrictions on CBD products. Most states have their own rules for the sale of CBD products which restricts how brands market their offerings. As we move forward, it is expected that sales restrictions will be reduced and brands would be able to reach out to potential CBD customers easily.
Currently, CBD can’t be advertised online using the more popular Facebook and Google media buying platforms. Neither it can be pushed as a direct sales offering to customers. Once these norms are changed to meet the modern CBD marketing needs, the process is expected to grow further.
For now, the market for CBD products looks amazingly healthy and is expected to shoot even further in 2022. The year will be full of surprises both in CBD retail and scientific discovery. It’s believed that CBD will become one of the household items in America with more people than ever who face chronic diseases settling for CBD as an alternative therapy. Will it happen as expected? We’re yet to see that! But one thing is for sure, CBD as a market is not going to slow down in 2022.