4 CBD Market Trends All Entrepreneurs Should Be Aware Of
From consumption methods to methods of payment, the latest on this booming industry.
3 min read
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According to recent predictions by BDS Analytics, the CBD market will reach somewhere close to $20 billion in sales by the year 2024. That’s a 49 percent compound annual growth rate, a bit shocking for a substance that was almost entirely outlawed less than a decade ago. Here are three profitable trends in the CBD market that entrepreneurs should know about, especially those already building products and companies in the “CannaTech” space.
Strains With Almost No THC
Roughly 60 percent of Americans live in a state where marijuana products have been legalized for recreational and/or medical use. But, of course, many of those consumers are still nervous about using cannabis themselves. Right on cue though, cannabis growers are creating strains with little or no THC so users can enjoy medical benefits without getting intoxicated.
Cannabis is becoming a commercialized product, which means that, like GMO foods, its genetic composition is being altered to enhance qualities and create effects that consumers will pay for. People who have no interest in the sensation of getting high can now enjoy the health benefits of cannabis without any intoxication, a trend that is likely to encourage new, previously resistant consumers to purchase THC-less strains of cannabis for help wit