Over the years, CBD has grown to become quite popular in the health and wellness industry. As a sector that is characterized by minimal entry requirements and standards, we are seeing new CBD companies being launched every day. What does that mean for the future of the industry? Keep on reading to find out what a panel of experts at the Cannabis Europa conference think about this, as well as their predictions on whether the CBD market is a boom or bust.
Starting off with the opinions of CiiTech CEO Clifton Flack, he acknowledged the fact that in the CBD industry, a brand doesn’t need licensing to operate. This, therefore, makes it very easy for new brands to pop up almost every day. He went on to explain that the varying regulations in different countries impact the entry barrier for new companies. According to Flack, anyone can build a CBD brand from scratch, and as long as they are creative and innovative, and you can make significant earnings. However, it is more difficult to build a brand that will earn revenue instantly.
On the other hand, Stanton McLean of Artemis praised the benefits of CBD. His was more of a testimonial than an opinion as he dived deeper into how CBD helped him with sleep, anxiety, and weight. Stanton believes that Europe’s Cannabis Market is a boom because of the many impressive advantages this ingredient offers. He encouraged CBD companies to invest in marketing as it is a key contributor to the overall success of the brand.
Clifton Flack contributed to the conversation by discussing how different CBD is from THC. He explained that CBD doesn’t get you high and you take it for certain health conditions. Therefore no one would consume CBD just for fun. And this makes it an integral part of healthcare.
Stephen Murphy, CEO of Prohibition Partners, raised a question during the interview as to whether products like chocolate, lollipops, and drinks would be willing to inform the public about CBD benefits. Chrystal Capital Partners CEO, Kingsley Wilson was intrigued by this question. And he commented about the relationship between CBD and other products in the market. He also brought about the issue of investments in the CBD sector and how it can help the market flourish. Wilson emphasized the importance of marketing and how tapping into the product’s medical benefits can help you find loyal customers that are ready to use your product for the long term. This would then attract investors to your business as there are guaranteed returns. He finalized by asking CBD companies to familiarize themselves with the ever-changing regulations if they want to stay ahead of competitors.
Still, on the issue of investors, McLean claimed that most of the investments come from families running CBD companies or high net worth individuals. Institutions and corporations are yet to lean more towards the production and distribution of this ingredient. He mentioned that this situation is going to remain this way for a while and Wilson seconded his opinion by explaining how big European companies need to be educated about the CBD market so that they can comfortably invest in it. With more capital added to the CBD market, the industry will grow bigger.