How Profitable is CBD?
Today’s blog is not to talk about the wonderful benefits of incorporating CBD into your daily routine, that is something we have already extensively covered in numerous blogs and pieces. This post is more focused on another type of benefit you can experience with CBD. It’s the opportunity to benefit financially from the lucrative opportunity the CBD industry has to offer and what makes CBD profitable! So, if you are interested in capitalizing on timing and exploding industry while making a difference in other people’s lives, then keep reading.
Growing Interest & Demand of CBD
CBD is only getting more popular with an increase in demand every year. The industry has grown exponentially not just in the last decade, but ever since 2020, two years after the 2018 Farm Bill was passed. The global CBD market size was at a value of $2.8 Billion in 2020, around $3.7 Billion in 2021, and is projected to reach over $55.8 Billion by 2028! The compound annual growth rate (CAGR) expected between 2020 and 2028 is projected to be at $47.49%. These are huge gains for an industry that has managed to create large amounts of increased momentum. It also means it is not too late for you to claim your spot on the rise of what will be the next biggest industry.
The Real Value of the CBD Industry
The CBD hemp industry was valued to be worth $202 million back in 2015 and then increased in 2019 to a steady $1 Billion. Since then, the CBD hemp industry has made tremendous leaps and bounds to increase its market value exponentially with experts saying the market could be worth as much as $19.5 Billion in 2025. The potential for this industry and what makes CBD profitable is huge and more people are buying into it every day.
CBD seems to be the new “gold rush” for people, and more and more people are hopping on as fast as they can to fight for a top spot before the industry becomes dominated by larger companies. New companies are hoping to be the first pioneers to be trailblazing a market that is set to become extremely lucrative for those who are involved in it. With better quality products and technology continuing to emerge every month as more money is invested into health and wellness, it will continue to help increase the strength of the market, while opening more opportunities for those involved, as well as consumers.
Where the CBD industry is Now
As of now, a huge number of advances have been made in technology, as well as expanding the reach of the benefits of CBD by increased testimonials and research. In addition, better and higher quality products with new cannabinoids are being unveiled for the public to take advantage of and use. More and more stores and businesses are putting CBD on their shelves as these new findings are being discovered, what makes CBD profitable, and the potential of how lucrative the CBD market is becoming clearer. With reduced stigmatism and a variety of health benefits being shown, CBD is on track to dominate the consumer industry and create a market so big people ten years ago would have not thought to be possible. Not only is CBD buzzing, but other cannabinoids are also coming into the spotlight. Cannabinoids such as CBD, CBN, and more have become extremely popular as of recent and only add the validity of the claim of the potential greatness of the hemp industry.
How Can You Get Involved?
Whether you are a consumer, or a business-minded individual that sees the potential to make a lot of money in a lucrative industry, CBD can benefit you. If you are just looking to reap the benefits of CBD, then you are in luck since CBD product quality and expansion have drastically increased in the last few years due to hungry innovators looking to create convenient products for their consumers.
If you are looking to get in on the action and be a part of a booming industry, you may want to even consider starting your own personal brand. The easiest and fastest way to do this would be to partner with a manufacturer like Hempoholic. Hempoholic LLC is a hemp company focused on providing high-grade Hemp-based CBD products for both humans and their furry friends. We cultivate high-grade, CBD products using proprietary inputs. We grow and produce organic & vegan CBD without harsh chemicals or animal products. Our CBD products are so safe and effective, it is co-owned by a renowned physician, Dr. Ayo Gathing, MD.
The key to doing your research is to ensure you are working with the right wholesale manufacturer who understands your business and can meet all your needs. Once you find the right partner and have established your marketing plan, the sky is the limit. Now, more than ever is the perfect time to get started with CBD!