On July 2019, CBD Industry 2019 Global Market Research report presented detailed analysis of CBD market size, key trends, segments, share, technologies, manufacturers, challenges, market drivers, opportunities, standardization, future of the industry, and 2024 forecast. The research report also focused on overall CBD market including all the aspects impacting the growth of the market. The report provided quantitative analyses of the Cannabidiol (CBD) industry and the data which can be extremely beneficial to develop strategies for industry growth.
According to the latest report of the leading cannabis researchers BDS Analytics and Arcview, the CBD market will surpass $20 billion by 2024. The forecast was based on products sold through pharmaceuticals, licensed dispensaries, and general retail market which includes smoke shops, cafes, grocery stores, and pharmacies. BDS Analytics also predicted that in the large number, CBD products will be seen selling in the general retail stores instead of cannabis dispensaries. The sale of the CBD based products will be largely observed through other distribution channels as well. In fact, BDS Analytics estimated 49% of annual growth by 2024, and the total market is expected to generate $45 billion for cannabinoids by 2024.
Every so often the idea of CBD and its derived products land on the marketplace, it has created a buzz everywhere. CBD oils and the products that come infused with it making a big splash among customers. In case you are wondering what CBD is, it is a substance derived from cannabis plants or hemp strains. It is first extracted from the plants, and then mixed with other carriers, such as hemp seed oil and coconut oil to prepare it for use. Being the buzziest compound right now, manufacturers have started to pay more attention into creating attractive and high-quality product packaging. Below in this article, we’ve mentioned how the product packaging of CBD-based products is growing rapidly and why it is important. To learn about them, continue reading!
After the legalization of growing, producing, and selling marijuana, manufacturers have stepped up their game. Today, CBD is everywhere. From skincare products to healthcare products and from beverages to all the cosmetic products, CBD oil is now being used as an ingredient in the manufacturing of products. It is mainly because of the promising benefits and therapeutic properties CBD has shown after a number of convincing studies.
Being so popular, these products deserved to be packed in packaging that adds to the products packed inside. The packaging industry has started to pay more attention in making CBD product Packaging. Since the Hemp industry is growing rapidly, the big players and investors seem to be interested in investing into the business. After the elimination of legal barrier of CBD, most countries have permitted the conditional use of this products. Since the Hemp industry has established well in a very less time, the competition has grown so tough within the industry. This has made brands to come up with unique and creative CBD packaging.
For staying ahead of competition, brands have started to customize their CBD packaging design. Custom CBD packaging allow them to create packaging in their desired color, design, style, size, material, and printing. It not only help them in attracting more customers, but also contributes in sales and profit. The packaging of CBD products has become so important, because it determine whether the product is going to sell or not.
If you are a player in the CBD market, then you got to make sure that your products stand out among the competition. Well-designed CBD product packaging can help establish your brand and set you apart from others in the same business. In the growing CBD business, the CBD packaging is even more important. There are a number of CBD packaging options that you can choose from for packing your products in. From foil stamping to digital printing there are numerous customizing options. We all well aware that CBD is gaining more popularity in the beauty industry day by day because of its anti-oxidizing, oil-balancing, and soothing properties. Big players in the beauty industry namely Unilever, L’Oréal, Estée Lauder, and more are embracing the use of CBD oil in making their products. Moreover, they are using exceptional CBD packaging design to create a positive and distinctive brand image in the market.
The Hemp industry is growing with every year passing because of the several properties CBD has. Different industries are coming up with a number of CBD-infused products including balms, lotions, creams, makeup products, skincare products, and may more. There is no denying that packaging is playing the most important part in making these products known in the market. It is because customers love their beauty and skincare products to come in a beautiful packaging and the packaging industry has offered innovative packaging solutions. Today, the CBD packaging is contributing a lot in the overall business which is expected to hit $22 Billion by 2022 and it is said to generate $45 billion by 2024.
CBD has created a buzz everywhere after the bill passed that legalized its use. The industry is generating over $620 million that is expected to hit $45 billion by 2024.