The short answer: YES, absolutely! The CBD industry has been growing exponentially and only becoming more popular everyday. Many consumers are looking for better to alternatives to products they use daily, and CBD has been the answer for many of them. Since the passing of the 2018 Farm Bill, the interest in Cannabidiol (CBD) has been increasing, as well as the amount of technology and resources put towards manufacturing CBD products and learning more about this incredible compound. This is great news for your CBD business!
You may feel like the “big fish” have already established themselves in the market, but don’t let that discourage you! With quality products, support from your wholesale manufacturer and some hard work, the potential for success in this industry is limitless. Here are a few reasons why it’s not too late to start your CBD business, and the best route to take when doing so.
Demand for CBD Just Keeps Growing
Following the passage of the 2018 Farm Bill, things began to explode for CBD. Not only did it make CBD legal at the federal level, it gained publicity and recognition across the country. As more people began using CBD and benefitting from it, it has continued to gain popularity.
In 2020, the global CBD market size was $2.8 billion, around $3.7 billion in 2021 and is projected to reach more than $55.8 billion by 2028! The compound annual growth rate (CAGR) expected between 2020 and 2028 is projected to be at 47.49%. These are huge gains for an industry that has managed to create large amounts of increased momentum, making it the perfect time for you to hop on the rise of a huge industry.
This kind of growth is incredible for any industry, and the market for cannabinoids is just getting started. It might sound like you are late to the party with your CBD business, but that is far from the truth! Now is the perfect time to grab a seat at the table of what is going to be the hottest industry in the market. There is huge potential for new technology, applications of cannabinoids and much more. You can be a part of this group of trailblazers in a market that is set up for success. More money is invested into health and wellness every month, and it will continue to help increase the strength of the market, while opening more opportunities for those involved.
The CBD Industry is Just Getting Started
The CBD hemp industry was valued to be worth $202 million back in 2015 and then increased in 2019 to a steady $1 billion. Since then, the CBD hemp industry has made tremendous leaps and bounds to increase its market value exponentially with experts saying the market could be worth as much as $19.5 billion in 2025. The potential for this industry and what makes CBD profitable is huge and more people are buying into it every day.
With reduced prejudice and a variety of health benefits being discovered, CBD is on track to dominate the consumer industry and create a market so big people ten years ago would have not thought to be possible. Not only is CBD buzzing, but other cannabinoids are also coming into the spotlight. Cannabinoids such as CBG, CBN and more have become extremely popular as of recent and only add to the validity of the claim of the potential greatness of the hemp industry.
How to Get Started with Your CBD Business
The absolute first thing you need to do to get started is to find a reputable manufacturer to partner with. This sets you up for potential success because without high-quality products, you cannot make profits! In addition, finding a reputable manufacturer allows you to bypass the research and development, ingredient sourcing, meeting regulations and industry standards, packaging and fulfillment steps of the supply chain. The CBD products you choose come straight to you ready to put on the shelves – which means faster profits, too!
A wholesale CBD manufacturer takes on this load for you. Time is money, and much time will be consumed if you are handling everything alone like making sure your products are up to quality standards, meeting regulations and ensuring compliance. This way you can focus on your brand’s growth and marketing to your customers. By creating a partnership, you will also have access to a diverse selection of proven products. You can choose to private label your own line of CBD products with labels customized to match your brand’s look and feel by an in-house design team, and then labeled and packaged for you. If that is not the right direction for you, a Wholesale National Brand may be a better option. This option provides you with proven products, quick turnaround times and recognition in the market.
The Time for Your CBD Business is NOW!
Just because CBD has been around for a while does not mean that you can’t join in on the success story. As you now see, the CBD market has not even reached its maximum potential, and still has plenty of room for you and your brand to get your piece of the pie. If you are serious about embarking on your CBD brand journey, get in contact with the right supplier and simplify your success.
Ready to Partner with CBD Hemp Experts?
Partnering with a CBD manufacturer that meets all the standards and industry guidelines is difficult, but not impossible. CBD Hemp Experts make it easier for you. Above all, we help our customers in every possible way to maximize their business success. We are ready to help you start your own CBD business. The cool thing about partnering with us is that you can apply our experience and expertise for the success of your business. As one of the best vertically integrated CBD manufacturers, we keep track of every aspect of manufacturing CBD products from seed to sale. We are fully compliant and have all the licenses and certificates, so that you can rest assured about your business’s success with our products.
In order to partner with us simply call us or go to our “request a quote” page and fill out the form there. One of our CBD Hemp Experts will be in touch with you shortly. With us in your corner, you can simply focus on marketing and selling your products.