The current state of the CBD flower industry is, well, blooming. And all signs point to the possibility it will keep doing that in the following years. Market research backs up this claim, and if you are keeping up with the market news, you can conclude the same based on perception alone.
We want to move past the questions like “What is the best CBD flower of 2023?” and get into an in-depth take on the situation.
CBD products of all kinds are gaining popularity and recognition in many circles where cannabis was taboo up until a couple of years ago.
If you’ve ever wondered how this newly-instituted industry will grow, we have a couple of predictions based on the direction that things are moving in today, and you can find out all about that below.
Table of Contents
An Increase In Sales
CBD flower has been gaining popularity exponentially for the last couple of years, and it will most likely continue to do so. This means that more money is circulated around the industry, which will only lead to the perpetuation of the cycle of demand and supply, which is very likely to keep growing, according to professionals from industrialhempfarms.com.
As people start discovering that they can smoke cannabis legally, albeit without the “high” THC would provide, they’ll turn to CBD flower as an option. In 10 years, we can expect many more people to use CBD flowers to help them with various medical conditions.
It’s also expected that the CBD industry will make quite a bit of a splash in the stock exchange as new companies emerge and old ones start realizing the potential CBD products hold financially.
As to when and how this splash will happen, it’s uncertain, but that’s just another day in the office for anyone trading stock.
New Scientific Breakthroughs
Although we’ve already concluded that CBD is perfectly safe, and the FDA confirmed it, new research is still being conducted to give us a complete image of the benefits we can expect.
We can only imagine all the new things that we can learn in a decade, and perhaps we’ll find out that CBD can help with some conditions that we didn’t even consider yet.
We can also expect that more FDA-approved medication based on CBD will be developed, as the first one was a massive step in that direction.
The medicines in question are used to help with sporadic forms of epilepsy, unresponsive to conventional medication. Perhaps, in 10 years, there will be more similar situations where CBD flower might be the key to combating a condition that we had no way of dealing with in 2023, for example.
Better Quality Products
Because of the expected high demand, manufacturers will invest more resources in the process of growing and harvesting the plants.
This usually isn’t the case when a lot of money starts moving towards a specific product, and evidence up until now has exempted the CBD industry from the practice of products getting worse when the manufacturer smells dollar bills on the horizon.
There are so many different brands out there, and this is why being cheap when it comes to manufacturing does not pay off.
Because of so many new products in the market, regulation and control of what is sold will be improved, so we’ll have better products and safer ones, as well.
An Expansion In The Customer Base
Right now, the customer base for CBD flowers is relatively limited, but with enough time and exposure, a lot more people will hear about it and most likely try it out.
CBD truly has many properties that can be of great assistance to many people, so it’s only logical that a lot more people will start using products like this one.
Also, doctors will be more inclined to suggest CBD products than they are today simply because more research will confirm the aspects of this cannabinoid to be beneficial.
And with big corporations moving in on the industry, it’s a guarantee that some serious marketing campaigns will be happening, leading to even more exposure for CBD-based products, maybe for medicinal purposes, or only as a supplement, depending on the route they want to go.
Cannabis Legalization Will Grow
Cannabis legalization will have a huge impact on the use and growth of the CBD flower industry. At first, the idea of the herb’s legalization was heated. Many people were wary of the effects it would cause on society, especially on crime rates and abuse by children. In the states where cannabis is legal, the results are amazing; increased tax revenue and a better natural way of managing chronic illnesses for the public.
In the coming years, the efforts by cannabis activists to get it legalized in various states might bear fruit. There’s a possibility that more states, including Rhode Island, New York, New Mexico, New Jersey, New Hampshire, Minnesota, etc., will embrace it rather than shying away from it. This will see an increase in its production, sales, and use of other related products, including CBD flower.
Besides, a considerable percentage of the population supports cannabis more than ever. With more people becoming aware of its therapeutic potential and the non-intoxicating products like CBD flower, the figures may rise. That means an increase in public pressure on the federal government to legalize it. Although it might not happen fast, it won’t take long as anticipated.
Increased Awareness of Other Beneficial CBD Flower Compounds
CBD and THC (traces) aren’t the only compounds in the flower. Researchers are unraveling other useful cannabinoids. Yes, it’s rich in CBD, but there are many other cannabinoids in the CBD hemp flower, including CBN, CBG, CBC, terpenes, etc.
These compounds also contain beneficial effects as CBD. They work together to produce a powerful entourage effect. As more cannabis users realize they can enjoy these effects without risking the intoxicating effects of THC, they are likely to shift to CBD flower.
All in all, the future is looking bright for all CBD-based products out there, from flowers all the way to medications. It’s been a long-time coming, but the public eye is finally looking at cannabis for the potential it holds instead of the stigma they carried because of marijuana.
In the next decade, these prejudices will hopefully be rooted out, and we’ll be able to speak freely about all that CBD has to offer.