Be it in the UK or globally, CBD use is on the rise. Studies show that about 10% of UK adults use CBD products for various purposes. However, it is not only the users who are curious about CBD trends and topics. Even small business owners want to know what lies ahead, what changes to expect in the CBD market in the near future?
As CBD use rises, people also want to be well informed. They are trying to learn more about CBD, and how can it fit into their daily routine, what benefits can they expect from its regular use. There are certain safety concerns, too.
More people expected to use CBD, and sales will continue to grow
In fact, in many nations, sales or consumption of CBD products have exceeded various commonly used vitamins, like vitamin C. This upward trend will continue for the foreseeable future.
In fact, some experts believe that in the next five years, the CBD market may exceed £1 billion in the UK by 2025, growing more than thrice in the coming five years. Such growth is expected to be driven by several factors like increased interest in natural remedies, greater interest in CBD, and its perceived safety.
Better regulation of CBD products
CBD is now legal in many parts of the world. However, the legalization of the CBD also created unexpected problems related to the quality of products available. In many countries, the market is flooded with different products, but not all are equally good.
It means that health authorities are going to pay greater attention to the quality of available products. It might mean certain difficulties for sellers, but eventually, only the best quality products will remain in the market. Since CBD is categorized as a novel food in Europe, it means tighter quality controls and obligatory third-party lab testing.
Greater product choice for consumers
Despite the tightening of regulatory norms, the number of products will continue to increase. This may mean greater choice for consumers. CBD products will become available in various forms like creams, vaping, and much more. The market for value-added products will increase.
Changes in perception
As CBD products become more commonly used, many people will start considering them to manage their health conditions. This will ultimately lead to changes in the general perception regarding CBD products.
Choice made through research
Unlike early adopters of CBD products, consumers in future will base their choice of products on research. Consumers will do more thorough research to understand if CBD can be the right choice for managing certain health conditions. Consumers will also develop more profound knowledge about CBD products.
Greater attention to other cannabinoids
Till now, most researchers have focused on THC and CBD. However, in the future, studies will focus greater attention on other cannabinoids like CBG, CBC, THCV, etc. They will also explore the benefits of adding terpenes or other organic molecules to CBD products.
To conclude, the CBD market is quite dynamic. Availability of products and consumer preferencing will keep changing in the coming years. It means that all the industry stakeholders need to keep an eye on the latest trends. This will help manufacturers come up with better products. It will also help consumers make informed decisions.