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As the curtain falls over 2019, we move forward into another year. And the good news is factually it is correct to say 2019 was a fair yet not so strong year for the cannabis industry, especially in the stock market front. Although, it wouldn’t be fair to say that the marijuana industry was totally at loss. You see the Safe Banking Act was passed by the House of the Representatives last year, but its fate still hangs from a cliff hanger. Then there was this incredible buzz about various CBD products, which by the way you can purchase without a medical marijuana card. For instance, CBD-infused coffee, mascara, food items and a lot more.
What had been an incredible buzz for various product makers and businessmen continued to be a major buzz-strengthening as 2019 neared its end. This also means that while most stockers lost their market cap, there is still a good chance that people will be looking for more CBD trends in 2020. But the big question is: What are the most striking trends for CBD this year? Read on to find out.
This is one trend that prevailed in 2019 and it looks like 2020 will be no different. In fact, we cannot overlook this trend because several reports show that the legal cannabis market has seen significant growth since 2018 despite facing challenges.
This also means that we can expect the same trend to grow ridiculously in 2020. If we look at the main markets of CBD – USA, Western Europe, South America, East Asia, etc which amounted to a half a billion dollars last year. It will be no surprise that the market can amount up to a billion dollars this year.
However, there is one thing that investors and businessmen need to take care of. The quality of the product and adherence to protocols on the Federal level. After all, cannabis is still illegal on the federal level. And as a matter of fact, you don’t want to miss out on a golden opportunity.
The reason is that people are increasingly seeking better health care options, healthy foods, and alternatives to opioids. So, as a businessman, you need to steer away from mislabeling and poor quality CBD products.
With the increase in popularity of CBD products and more states legalizing cannabis, it is safe to say that more people are talking about the emerging CBD market. Some people are questioning its authenticity while others are focusing on bringing up new research as evidence. All in all, the popularity of CBD products cannot be ignored amidst apprehensions. It is a new movement and drawing negative conclusions will only lead to thrift among cannabis and non-cannabis communities.
Interestingly, there is something that people can look forward to in 2020 – an increase in the existing customer base. This customer base is health-driven and seeks natural products. They will rather treat medical conditions like chronic ailment with the help of CBD products and a medical marijuana doctor than going for pharmaceuticals.
So far, people stayed away from getting their hands in the cannabis industry because it was illegal in the state and remains illegal on the federal level. However, the current scenario suggests that almost 33+ states have legalized medical marijuana.
Now, people can not only purchase CBD products like CBD oil over the counter but they can also grow cannabis with the help of a medical marijuana grower license. All in all, there is a big boom in the cannabis market. This eventually means, besides the cannabis experts now more and more people will think about introducing cannabis products, especially the famous brands.
Now, that is not a coincidence. You see many small brands are merging with small brands. On top of that web, sales are expected to increase by 30-40 percent. So, you can expect even bigger brands to drive CBD product sales. In short, the market will expand and slowly consolidate as profits top the charts.
So, what do you think about the CBD trends mentioned in this post? If you think there are other growing trends in 2020. Don’t forget to enlighten us with your thoughts in the comment section below.
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