To say that CBD has had a good year would be an understatement. According to experts, the only reason why CBD sales saw a slight dip in 2020 was due to the global pandemic and resulting necessary restrictions in place. That being said, CBD sales have still managed to be strong despite the tough impediments in place, which hindered not only the production of CBD products but also the entire supply chain.
One of the reasons why CBD hasn’t lost its luster despite having a slow year by 2019 standards is because COVID-19 has encouraged many of us to adopt a healthier lifestyle including using organic and natural treatment alternatives as opposed to the traditional options. This has resulted in the consistent rise in demand for so many CBD-infused products.
The good news is that hemp and CBD farmers are already looking at record-breaking yields since CBD was legalized in multiple states in the US. This is, without a doubt, going to result in a significant increase in the production of CBD.
While the CBD industry has seen steady growth over the past year despite the pandemic, many businesses didn’t survive. That being said, many experts are confident that the CBD industry is going to bounce back to its pre-2020 glory in the latter half of 2021 and beyond. We’re already seeing a growing interest being shown by many entrepreneurs and even some big-name brands that are looking to cash in on this lucrative industry. Furthermore, businesses operating within the CBD industry do not expect to be faced with the same challenges as they did this past year due to production issues and supply chain hindrances. This has led to those in the CBD industry being more than hopeful that the market will do much better very soon.
The good news is that hemp and CBD farmers are already looking at record-breaking yields since CBD was legalized in multiple states in the US. This is, without a doubt, going to result in a significant increase in the production of CBD, which in turn means that there will be more products hitting the shelves to meet the growing demands of CBD and CBD-infused products. One thing’s for certain, the ever-growing popularity of CBD isn’t going anywhere any time soon thanks to the quality CBD-derived products widely available with a whole range of brands that are all set to introduce their line-up of CBD-infused products in the coming year. With all the positive vibes surrounding CBD, businesses operating within the industry are thinking positive vibes only for 2021 and the years to come.