2021 is a big year not only for Hemp and CBD Market but for the U.S. and global markets in general. As we slowly begin to move out of a devastating pandemic, how can we expect markets to affect sales and production of hemp and CBD products for the year to come?
Here, we’ll break down the 5 most important trends to keep in mind when considering the growth of potential in this market. Read on to learn more!
- Increase in Cannabis Sales
Trends seem to suggest that there will continue to be an increase in cannabis sales. Cannabis is now legal in some capacity in more than 18 states, and it seems as though this number will only continue to grow.
This is great news especially for hemp and CBD as negative impressions around cannabis continue to decrease.
- Effects of New Federal Leadership
Because cannabis is still very affected by federal and state laws, having new leadership in Washington could have a major impact on the hemp and CBD market trends.
The regulation of ingestible CBD products has especially been a major obstacle in the cannabis market so it will be important to watch how leadership continues to make these decisions and change regulations.
- Return of In-Person Sales
The last year has had a major impact on in-person sales of all kinds, even hemp and CBD products. However, as customers continue to return to brick-and-mortar stores more and more, these sales will continue to increase. This will continue to help for marketing hemp and CBD businesses.
- Diversity of Products and Customers
As the market continues to expand, we can expect to see a greater diversity not only of the types of products that are available to consumers but also a greater diversity of the consumer base themselves.
It’s quite likely that as cannabis products become more widely accepted and more widely available, there will likely be an increase in the number of older customers.
You can learn more about the kinds of new cannabis products being developed, such as those created under Jasdeep Singh, COO of 3BC, and also learn about growing your hemp business.
- New Research on Effects
As cannabis products continue to increase in demand, researchers are continuing to research the potential benefits of using hemp and CBD products. Having this research will help to potentially increase the market, as well as promoting positive regulation by the FDA.
Having an increased understanding of the effects of hemp and CBD products could also help to make these products more accessible and widely accepted by a number of consumers.
Saying On Top of Hemp and CBD Trends
There is a lot of great news out there for the hemp and CBD market in 2021. As things continue to shift and change, it is important to keep our eyes on these trends and look forward to a market in which cannabis products are more accessible to a wider range of consumers.
Continue exploring the site for more information about hemp and CBD products and market trends!