Current CBD Trends

Since the Farm Bill was signed in 2018 the CBD industry has more than skyrocketed. Globally, the CBD industry brought in 9.4 billion in 2023. Those figures are expected to triple by 2027.

The Farm Bill removed hemp from the list of controlled substances and legalized its cultivation and production as an agricultural commodity in the United States.

The bill defines hemp as cannabis with a THC concentration of no more than 0.3% by dry weight. This legalization opened up new opportunities for farmers to grow hemp for various purposes, including the production of CBD (cannabidiol) oil.

Regions Leading the CBD Market

United States

The U.S. stands as a prominent hub for CBD products, largely fueled by the rising demand for natural health remedies.

With the legalization of hemp-derived CBD through the 2018 Farm Bill, the American CBD market experienced a remarkable surge. Today, a diverse array of products such as oils, tinctures, capsules, topicals, and edibles cater to consumers' preferences.

Europe

Countries like the United Kingdom, Germany, Switzerland, and Austria have witnessed remarkable growth in the CBD market. The European market is reflected by its acceptance of CBD for health and wellness applications.

Canada

Following the legalization of recreational cannabis in 2018, Canada emerged as a key player in the CBD landscape. While regulations remain stringent, the Canadian CBD market has steadily expanded, catering to both recreational and medicinal consumers.

Asia-Pacific

In the Asia-Pacific region, notably in countries like China and Japan, interest in CBD products has been on the rise. However, navigating the regulatory landscape in this region can prove intricate, with regulations varying significantly across different countries.

CBD Popularity

CBD has become increasingly mainstream, garnering widespread acceptance among both conventional consumers and medical cannabis patients alike.

Its popularity stems from its perceived therapeutic benefits, which appeal to individuals seeking natural remedies for various health concerns.

Without a doubt, this CBD trend has taken on a life of its own and holds considerable promise for the future.

Current CBD Trends

Expect to see a wider variety of CBD-infused products beyond the typical oils, capsules, and edibles. This could include CBD-infused beverages, skincare products, pet treats, and more.

Consumers are increasingly concerned about the environmental impact of CBD production and the quality of ingredients used. Brands that prioritize sustainability, organic farming practices, and third-party testing for purity and potency may gain traction.

As more countries legalize or decriminalize CBD, the global market for CBD products is likely to expand, potentially leading to increased competition and innovation.

As CBD regulations evolve globally, clearer guidelines from regulatory bodies could lead to increased mainstream acceptance and availability of CBD products.

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