The Future of the Cannabinoid (CBD) Industry

The CBD industry is booming, and it’s showing no signs of slowing down. As more and more people discover the benefits of CBD, the demand for these products continues to increase. 

If you’re looking to enter the industry, now is a good time to do so. The increased availability of banking for the cannabis industry and other services aimed at cannabis operators can help you capitalize on this booming market. Let’s look at the current state and the potential future of the CBD market. Read on to learn more.

Are CBD sales increasing?

Last year, the global CBD market was valued at $620 million and is expected to grow to $20 billion by 2022. This growth is being driven by a number of factors, including, but not limited to:

• the legalization of cannabis in several countries
• the increasing popularity of CBD as a wellness product
• the growing number of products available on the market

In particular, there has been a surge in demand for CBD-infused food and drink, as consumers look for ways to incorporate the compound into their daily routines. With more businesses entering the market and new products being launched all the time, it is likely that CBD sales will continue to rise in the years to come.

What is the future of the CBD industry?

Looking ahead, it’s likely that the CBD industry will continue to grow. There are a number of factors that could contribute to the future success of the industry.

Accessibility and legalization

The legal landscape surrounding cannabis is changing. Several countries have already legalized CBD, and others are expected to follow suit. This will open up new markets for CBD products, which is likely to lead to even more people trying it, as they’ll be able to purchase it more easily. 

In addition, the latest SAFE Banking Act provides protections for financial institutions that work with hemp businesses. This law should make it easier for CBD companies to get access to banking services and investment capital.

Health benefits

CBD is known to help with a variety of issues, such as pain relief, anxiety, and insomnia. As more people become aware of CBD’s potential health benefits, they’ll be more likely to try it out themselves. Moreover, as the body of research on CBD grows, so too will people’s confidence in its ability to improve their health. 

The FDA has approved only one CBD-based medication, Epidiolex, for the treatment of rare forms of epilepsy. However, this is seen as a positive sign for the future of CBD in the US. FDA approval would legitimize CBD as a medicine and pave the way for more clinical trials.

Public opinion

Public opinion on CBD is extremely important for the future of the industry. Generally, public opinion towards CBD has been favorable. A 2019 Gallup poll found that 64% of American adults believe that CBD is beneficial. 

This is a sharp increase from the limited public awareness of CBD just a few years ago. This growing acceptance is likely to continue as more people learn about the potential benefits of CBD, which is great news for everyone in the industry, from beginner hemp farmers to established cannabis shop owners.

Sustainability

The hemp plant from which CBD is derived is a renewable resource that can be sustainably grown on a large scale. Hemp can be used to create a variety of products, including food, fuel, and textiles.

While hemp farming has its challenges, hemp cultivation requires less water and chemicals than traditional crops. As more consumers become aware of the environmental impact of their purchasing choices, they are likely to increasingly choose products from sustainable hemp cultivators.

Where can I find reliable experts who provide banking for the cannabis industry & other financial services?

If you are a current or future cannabis operator, you can rely on Green Leaf Business Solutions. We are here to help you navigate the complex regulatory landscape and provide you with the tools and resources that you need to run your business efficiently. 

With our experience and expertise, you can rest assured that you are in good hands. You can count on us to help you get access to the banking and financial resources necessary to kick-start your new CBD business or take your existing business to the next level. 

It’s important to choose a banking partner company that specializes in this industry. With us as your reliable banking partner, you can focus on what you do best – providing high-quality cannabis products to your customers. Reach out today and see what we can do for you!