One of the first questions any savvy businessperson needs to ask themselves when adding a new product to their lineup is, “Why is this popular?” Whether the product in question is CBD or a brand new toy, understanding what makes the products you offer appealing to your customers is essential.
What’s clear is that CBD is extremely popular, and is only growing in terms of market potential. Over the past six years, the total value of CBD product sales in the U.S. has rocketed from $108 million (2014) to over $1 billion (2020). Growth projections from Statista and the Hemp Business Journal estimate that the total value of CBD consumer sales could reach nearly $2 billion by 2022. With this much growth still projected, CBD is well worth your time and financial investment
You will find more infographics at Statista
In this article, we’ll explore the reasons why CBD has become so popular in the last few years. We’ll also take a look at how you can take advantage of these popularity factors to encourage growth in your own CBD business venture. The sections below explain the reasons CBD has become so popular:
- Legal Status at the Federal Level
- Range of Potential Benefits
- Positive Findings from Ongoing Research
- Drug Test Friendly
- Safe and Non-Addictive
- Fast Acting
- Discrete Usage Options
Legal Status at the Federal Level
One of the primary reasons that CBD has seen such an explosion in popularity is due to its recent legalization at the federal level. In 2018, a bill commonly known as the 2018 Farm Bill was passed into law. This bill legalized the industrial-scale production of hemp and allowed for the sale of hemp-derived CBD products. So long as the CBD product being sold uses only hemp-derived CBD with a THC percentage of 0.3% or less, it is legal at the federal level.
Prior to the passing of this bill, certain states allowed for the sale of CBD products. Now that the bill and its follow-up rules from the USDA have been released and codified into laws and regulations, every state allows for the sale of CBD in some capacity. Not only did this increase people’s access to CBD, but also the show of good faith by the federal government clearly indicated that CBD is considered safe for human consumption.
Range of Potential Benefits
While the legalization of CBD played a huge role in increasing its market potential, it’s the potential benefits of CBD that keep it flying off of shelves. Based on research from numerous universities, public research groups, and private businesses, CBD has been identified as a pleiotropic. A pleiotropic is a chemical compound that, when introduced into the human body, has the ability to bind to multiple receptors. What this ultimately means is that CBD has the potential to produce a variety of positive effects.
Some of the most commonly claimed benefits of CBD are:
- Anti-inflammatory effects
- Anxiety management
- Pain management
- Seizure prevention
- Appetite stimulation
There are dozens of other claimed benefits of CBD, but these five are some of the most readily observable. Evidence for each of these effects has been shared both anecdotally and through scientific research. It’s important to note that just because there is strong evidence in favor of these claims, you should avoid stating these potential benefits as facts.
To learn more about CBD and its potential benefits, check out our selling CBD FAQ page.
Positive Findings from Ongoing Research
While anyone can claim that a substance has benefits, CBD has been shown to produce many of the aforementioned effects under scientific observation. Currently, most CBD research is focused on either discovering additional effects that the compound produces, or isolating one or more of the known benefits.
Because of the amount of ongoing research and scientific findings regarding CBD, the product is seen as more trustworthy in the eyes of consumers. To best capitalize on this facet of CBD’s popularity, we recommend staying up to date with the latest research by following our blog and subscribing to a CBD industry newsletter or magazine. Armed with the knowledge from these publications, you’ll become more capable of attending to the needs of your customers.
For a long time, CBD and THC (the psychoactive component found in the cannabis plant) were not treated as separate chemicals, which is what led to the legal restrictions on the production of hemp. Now that more research has been conducted, it has been concluded that CBD is non-intoxicating. This allows CBD users to engage in more frequent use, as it does not produce a “high” that could impair judgment or the ability to perform certain tasks.
Drug Test Friendly
CBD itself does not show up on drug tests. Most drug tests are looking for evidence of THC in the bloodstream, and while both THC and CBD can be present in the hemp plant, the legal requirement for CBD products to contain less than 0.3% THC means that it would only show up on the most intensive of drug tests.
If you have a customer that works in a profession that requires regular drug tests, such as government work, transportation, or professional athletics, you can direct them to CBD concentrates. CBD concentrates are fully distilled CBD products that can contain as little as 0% THC, meaning they will never show up on a drug test.
Safe and Non-Addictive
To date, very few negative side effects have been associated with CBD. The most commonly cited negative side effects include drowsiness, dry mouth, interference with prescription medications, and gastrointestinal issues. With the exception of its potential interference with prescription medications, nearly all of these side effects have been either traced to the carrier oils (specifically gastrointestinal issues) or mistakenly attributed to CBD when they should have been attributed to THC (dry mouth and drowsiness).
CBD is also non-addictive and non-habit forming. Further, you cannot overdose on CBD. All of these factors make CBD a great solution for working professionals and highly active people who can’t risk intoxication or adverse side effects in their day-to-day lives. It’s also a great alternative to traditional painkillers for those who have to frequently manage pain, those who have weakened livers or kidneys, and those who are unable to take opiates or other high-potency pain medications.
Depending on the intake method. CBD’s effects can be noticed mere seconds after ingestion. The fastest method of activation is vaping, but for those who are more health conscious a CBD concentrate or tincture can activate within a few minutes. The fast-acting elements of CBD make it perfect for managing chronic pain or rapid onsets of anxiety.
Discrete Usage Options
Unlike its cousin THC, which has a distinctive smell, CBD has almost no scent. This means that you can use CBD products as needed without disrupting the people near you. And because it is federally legal, you can bring your CBD products on a plane or across state lines without issue.
Add Popular CBD Products to Your Retail Business Today!
Now that you know some of the reasons that CBD is so popular, you’re ready to start adding CBD products to your inventory. To start selling CBD, contact us today or fill out or vendor form to see how we can provide you with legal, pure, hemp-derived CBD products at a great price!