08 Jan CBD and Hemp Market Forecast for 2021
We aren’t the only ones who are excited about the opportunities that continue to open up in the cannabidiol and water-soluble hemp markets and the growing demand for emulsification equipment.
Like just about everyone else, they expect sales of CBD products to grow in the coming months and years. “If you consider the estimates by New Frontier Data, the CBD market will increase from $390 million in 2018 to $1.3 billion in 2022. Another research by BDS Analytics and Arcview suggests that CBD sales will reach more than $20 billion in 2024,” they report.
Looking ahead, the folks at BIZCATALYST 360 also expect to see in 2021:
- An expanded range of CBD-based products
“While the product range is already quite vast, it is certainly expected to expand in the next few years. Brands are experimenting and also making headway with CBD- infused beverages that use nanotechnology,” they say. Other industries that are looking to take advantage of the popularity of CBD include cosmetics and health supplements.
- More investment dollars
“If you look at the best-performing stocks, you will find many CBD companies on the list. Investing in the CBD industry is a wise decision, given the ample opportunities for profits and growth. Due to this, top corporate players are also inclined to invest in the Cannabidiol market. Besides companies, even individuals are trying to profit from the boom of the market. It is expected that the market growth of CBD could exceed 55 percent per year in the next few years.”
- Loosening of legal restrictions
It seems that it is only a matter of time before water-soluble hemp and other CBD products will be available legally across the country and in ever expanding markets around the world. “A wave of legalization of cannabis and its byproducts has been increasing all over the world. The U.S. government passed the 2018 Farm Bill that made the production and sale of hemp-driven CBD legal. Many states in the US have legalized the use of the cannabinoid already. While it’s still illegal in some states, experts believe that they are on the way to legalizing CBD products,” BIZCATALYST 360 says.
If you would like more information about the role of ultrasonic emulsification in the CBD market, please contact us.