CBD Now & The Near Future — Trends To Expect In 2021
It’s an exciting time in the CBD world. Recent years have seen a lot of movement in cannabis-related laws, cultivation, research, product development, retailing and more. That may have you wondering what’s going on right now in the industry and what’s on the horizon.
Join us for a review of current trends and a look ahead for the rest of 2021. CBD’s going to have a banner year!
CBD 2020 Status Check
Let’s start at the beginning. What was happening with all things CBD at the close of 2020?
Despite being a crazy year (or maybe in part due to the craz-o-meter ratcheting up to 11 on the dial), CBD ended the year on a high note. It’s likely that the industry is still riding that tide of change brought on by the 2018 Farm Bill, which made hemp-derived CDB with 0.3% or less THC federally legal.
Here’s a glimpse of some of the notable happenings from our year of two-thousand-and-twenty:
- The FDA broadened research and data gathering related to the safety and efficacy of CBD, particularly related to long-term usage and sex/gender differences.
- The government and pharmaceutical companies are exploring new therapeutic uses for cannabinoids.
- Governments, the scientific and medical community, and private businesses made considerable efforts to expand education around CBD. (Have you seen all the cannabis content out on the web?!)
- All five states that had cannabis-related ballot measures passed the legislation. So, as of the start of 2021, 47 US states and the District of Columbia allow CBD in some way, shape, or form. (Come on Idaho and Nebraska— get with the program! And South Dakota, time to get some clarity on your CBD laws….)
Not too shabby!
2021, A Soaring Start For CBD
There’s a lot in the CBD hopper this year. There are many, many developments on the cannabiz side of things. But we’ll just take a look at the trends you might notice as you shop for your CBD products.
Here are our top 12 CBD insights for you to chew on like delicious little CBD gummies:
COVID-19. Sadly, the coronavirus has hugely and negatively impacted countless people. As folks deal with the symptoms of the illness and recovery itself (and other conditions as well) and the fallout from pandemic life, many are turning to CBD for relief.
More of the same. Expect see even more topicals, tinctures, and edibles hit the shelves. No surprise here!
CBD’s everywhere. This is kind of like Hello Kitty or Marvel Comics merchandising, where your beloved character is incorporated into absolutely everything from waffle irons to underwear to makeup. CBD is finding itself infused into all kinds of (sometimes unlikely) incarnations — like clothes, facial masks, toothpicks, TP, bedding, etc.
CBD-spiked beverages are gaining traction, possibly the next logical step after all those drinks that contain other supplement. These whistle-wetters are especially popular with younger-generation consumers. (You can also try making your own CBD-boosted bevs by adding CBD oil or water soluble to your water, juice, etc.)
Extensions aren’t just for hair and lashes. We’re talking about brand extensions here. For you, this means you might see your favorite product lines from your favorite companies add CBD-imbued goodies to the mix. Example? Yes please! Perhaps your preferred muscle cream will introduce a variety with CBD.
CBD for all. You may see advertising campaigns or other marketing endeavors geared towards a more diverse audience. CBD producers and retailers are looking at ways to connect with underserved consumers, such as those in the Black and Hispanic markets.
Focus on benefits. This is a trend seen in other health and wellness sectors, too. Consumers want to know how the products will help them. Focus will shift from touting features to articulating potential results and positive outcomes for the user.
Targeted products and outreach. This goes hand in hand with #6 and #7. Gone are the days of fire-hose marketing, where you hit everyone with everything and let them figure it out. CBD makers are starting to use data and direct interaction with consumers the offer products and communication that fit the unique needs and preference of particular segments of CBD users.
Smarter buyers. With giant spotlights shining on CBD recently, and tons of informative content about CBD, consumers are going to get savvier over time. You’re going to be so darned CBD smart! This is terrific because knowledgeable consumers will likely have more realistic and well-informed expectations — meaning they’ll have greater satisfaction with their CBD experiences.
The Biden administration has signaled a progressive stance on cannabis. While there might not be movement on this in 2021 — lot of other stuff going on in the country right now and there are still just 24 hours in a day, ya know? — there seems to be a warm reception. Ultimately, this could lead to cannabis being taken off the list of controlled substance and changes in taxation. You may also see more regulation around products, labeling, usage, and more. But, with this softening on cannabis, you’ll also enjoy easier access to your CBD products.
Market consolidation. This is behind the green curtain perhaps, but analysts think the market will thin out. The result? Fewer CBD companies and fewer brands. This may sound like a bad thing for you but it isn’t. As a consequence of mergers and acquisitions and other players exiting the market completely, only the best of the best will remain. You’re going to have just the top echelon of CBD products to choose from.
Increased global interest in CBD. This post is focused on US trends. But let’s not forget our friends abroad. It’s predicted that CBD interest and usage will grow worldwide.
2021 Trends Summary
Simply put, CBD started out on a robust note this year. (Seems like 2020 might have put a lot of people in the mood for the calming effects of CBD?) Several states have now legalized cannabis for medical and/or recreational use, which has opened up those markets to CBD. And the interest and sales numbers show these folks are on board with CBD products.
All indicators point to the remainder of 2021 being more of the same strong growth trends. CBD’s becoming a thing. Americans and our representatives are mellowing when it comes to CBD restrictions. So, experts expect further opportunities for research, product development, and commerce on the retail side. Correspondingly, you can count on more and better access to more and better CBD products as a consumer. It’s a win-win!
If CBD’s your jam, the outlook is pretty rosy.