The future of CBD is bright, but it still hinges on crucial developments.
An all-time high in public education about cannabinoids will accompany the mainstreaming of CBD. Through this, consumers will be able to feel more confident and safer while purchasing products that are smartly regulated.
Huge companies have been hesitant to embrace CBD as its initially “Wild West” market goes through growing pains. But once the regulatory landscape clears and stabilizes, I believe many corporate giants will look to diversify their product lines with CBD and add brand-new products that open avenues of growth. Companies like Procter & Gamble, Johnson & Johnson, Coca-Cola, Unilever and more may get into the game, and they’ll do it through acquisitions of existing CBD market leaders.
The crucial developments that will remove these barriers are the FDA classifying CBD as a dietary supplement, the industry’s unrestricted access to financial services and an intelligent regulatory framework that increases product quality and safety across the board.
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2. Regulatory challenges remain, and it will take Congress to clarify things.
3. Big-box retail access will spur sales while stabilizing and improving supply chains.
5. Education, quality assurance and safety will skyrocket.
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CBD companies are tasked with seizing this opportunity while navigating the significant hurdles. As a founder and owner, here is my take on the crucial developing issues in my industry, along with predictions about what will happen.
As the owner of a CBD company, I am in wait-and-see mode like many of my colleagues. We simply steer through these challenges to grow our companies. But I believe that lawmakers will solidify the status of CBD soon, removing barriers to innovation, safety and, ultimately, the normalization of the industry. When that happens, even more growth — exponential growth — is on the horizon.
In the U.S, the legal status of CBD has been in flux. Until now, all 50 states legalized CBD with different degrees of restriction in their laws, though the federal government still regards it as the same class as marijuana. Despite this, the number of people seeking it is growing.
Among many CBD business ideas, becoming a manufacturer can be one of the most difficult ones. While some people choose to create their hemp-derived products themselves, others prefer working with manufacturers instead.
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If you want to kick start a CBD business serving pet treats, read below for some tips!