If you want to kick start a CBD business serving pet treats, read below for some tips!
Here is what Acabada’s CBD apparel might bring to its customers.
04. CBD-infused beverages
When you first start a CBD business, it helps to learn from big brands in the industry. Some examples are:
According to Statista, total cannabidiol product sales in America reached 1,198 million USD in 2020. The figure can even soar to 1.8 billion USD by 2020. It proves that the CBD industry is a fertile land for enterprises.
01. CBD-infused apparel
If you wish to jump into the CBD market, here are some recommended drinks for cannabidiol infusing:
The internet, though, abounds with anecdote after anecdote discussing how CBD has eased the pain of aching joints, cured insomnia, or even lessened the pain of cancer treatment. If this isn’t simply a global placebo effect, experts think CBD stimulates the production of endocannabinoids, which help to reduce physical pain and mental stress.
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The report also stated that while CBD products are being sold on UK high streets, the majority of UK consumers prefer to purchase online. It also noted that “UK consumers are currently paying high prices for CBD products”, indicating compelling market opportunities for companies that effectively meet the needs and desires of the target market.
Why CBD is a good business idea
Anyone wanting to enter the UK CBD market really needs to be aware of the regulations that affect CBD and how these might change in 2020. Currently, CBD is an under-regulated sector and research from the Centre for Medicinal Cannabis (CMC) indicates that this is already having some concerning impacts. The CMC analysed 30 CBD oil products available in the UK and found that 38% had less than 50% of the advertised CBD content, and one product contained no CBD whatsoever. George Glaisher, co-founder of premium CBD brand Aver, therefore echoes the views of many when he notes that “it is quite clear that the CBD market is in need of regulation to both standardise quality and ensure safety for consumers”. Fixing this is difficult though – CBD is currently controlled by the UK Food Standards Agency (FSA) but experts argue that the FSA lacks the resources to patrol the CBD market effectively and will need to work with industry bodies like the Association for the Cannabinoid Industry (ACI), a CMC initiative that aims to enforce minimum standards for the nascent CBD industry.