While New Year’s Eve is far behind us, it’s still not too late to spark up predictions about and resolutions for our next orbit around the Sun. As my lovely wife will attest, I’m not keen on making New Year’s resolutions. But, given the fast-growing CBD industry, I think it’s worth it to make some predictions for 2019.
Before delving further into the topic, let’s first understand what CBD is and why the buzz surrounding it just keeps getting louder:
What is Cannabidiol (CBD)?
Cannabidiol is one of over 115 known naturally occurring cannabinoids in the cannabis plant. It’s different from THC (the mind-altering compound in marijuana) since it has a unique chemical structure.
Most importantly, it’s complicated to obtain CBD ONLY from the hemp plant, so most CBD extracts contain a mixture of compounds, all derived from the cannabis plant.
Why is CBD all the Buzz Nowadays?
The rise in CBD popularity didn’t happen overnight. It’s the outcome of results obtained after consumption of CBD products by the people. Those who were suffering from some serious illnesses got cured, and it made the compound accepted and liked by the people.
Some of the huge health benefits of CBD include:
- Reducing stress
- CBD creams and lotions provide instant relief from soreness, ache, and pain
- Curing depression and anxiety
- Fighting cancer and arthritis
- Curing sleep deprivation and insomnia
- Beautifying the skin and reversing the signs of aging
These benefits might get credit for the massive growth of this sector. Then again, the use of marijuana, being an illegal activity has kept it in neutral ground. Consequently, the need for medications, which comprises CBD in its pure form with no THC, is a must.
Businesses are researching innovative ways to isolate and create CBD infused products in diverse forms at affordable rates. It’ll help in getting more attraction of the CBD users towards them and thus more gains.
The legalization of marijuana has already gathered momentum in the recent past owing to the efforts of some individuals. However, irrespective of whether it gets legalized or not, the industry isn’t going to experience the downfall anytime soon.
Cannabis Industry Predictions for 2019
Further Mainstream Awareness
My first prediction is that the increasing interest will continue through 2019 and beyond, with CBD infused beverages and edibles coming into play. We’re also likely to see an increase in seniors who take CBD, thanks to more research being devoted to CBD. Additionally, there will be deals with “outsider” companies and a lot of money will likely be invested in increased research into CBD and cannabis tech.
My second prediction is that consumers will start to insist on knowing what they are paying for and what they’re getting. Rules and Regulation must happen, maybe through a self-governing body or national regulatory bodies in different countries.
My third prediction is that true brands will emerge. True brands start with product consistency, and it has been tough for the current CBD brands to guarantee consistency across locked borders.
In 2019, brands will be capable of tightly controlling, regulating, and reporting on their repeatable processes, allowing product consistency in geographically dispersed regions. Consistency begets credibility, which contributes to the growth of a product to a brand.
My fourth prediction is that 2019 will see giant retailers such as Amazon join the CBD movement. Back in 2017, you could only get CBD products from small independent retailers like head shops, specialty stores, or natural food stores. Throughout the UK, people have been requesting these products, and the big retailers have been wise to listen.
More Employment Opportunities
My fourth prediction is that huge developments in the CBD sector will lead to far more jobs. The CBD market will really grow in the following couple of years. Estimates indicate that sales are expected to increase more than 27 percent annually by 2022; this translates to more than $22 billion in sales.
Ultimately, that substantial growth in sales also indicates far more labor, so job development will increase by about 21 percent by 2022, which is huge compared to almost any other existing market. The CBD market employs averagely 135,000 workers. By 2022, that number will double.
To sum up, my sixth prediction is that as sales increase, the demand for CBD products will also increase – large enough to stretch the industry’s present supply chain. Hemp growers will be in high demand, as well as product formulators, lab workers, and extraction pros.
According to according to ma CBD oil more hemp acreage will be cultivated in 2019 than ever before. Countries that started pilot programs will experience great success and will decided to expand.
No one can genuinely predict exactly where the CBD market is headed, but it’s definitely going into brighter and larger locations. We’re as excited as everybody else to see exactly where the road will take us, and we’re hoping for new discoveries along the way.