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As CBD continues to grow into a multi-billion-dollar industry, trying to predict its future can mean the difference between a little or a lot of money- so get ahead by recognizing the direction of the CBD market over of the next year to come (which might be its most important year yet!). With that in mind, here are our best predictions for what to expect from CBD in 2023.
CBD in 2023
If 2022 was any indication of what CBD is going to do this coming year, then one thing is for sure- there is no slowing down. In fact, with the upcoming 2023 Farm Bill taking shape, this could be that explosive year CBD has been waiting for.
· Substantial growth across the board: this continued growth shouldn’t be a surprise considering each year CBD’s reach extends a little further… and thanks to the culmination of those years of effort we should start to see some serious acceleration. Personal, pharmaceutical, cosmetics, food and beverage, etc., watch for it all!
· Better regulations: and a huge part of CBD gaining ground this year will be thanks to the interest Congress is finally showing. As more testing is permitted, and more standardized regulations are implemented, the public will not only have easier access to CBD- but they will feel more comfortable in trying it as well.
· New diversity of products: as government guidelines stabilize and laws start to become consistent, corporate giants will want to integrate some of their products with CBD. Now we might not see CBD infused Diet Coke this year… but that is the general direction we’re heading.
· Expanding knowledge of health benefits: CBD will only continue to be understood better and as that happens more people will become aware of what it actually is and what it does. There is already a big push by the public for alternative medicines and the ultimate hope for CBD is it will eventually be proven to be just that.
· Increased advertising: depending on where you live there is little to no CBD advertising currently- but if/ when CBD becomes federally regulated, expect to see the start of increased marketing for it. Celebrities, athletes, influencers, and other random famous people will become the new brand ambassadors for a variety of products containing CBD.
CBD in 2023 will continue to gain momentum- and most likely at the fastest rate it has seen yet. Predictions can be hard, but not this time! If your business is looking to take advantage of what’s to come, or if you have questions about credit card processing for CBD, reach out to us here at Align eCommerce. We’re here for you!
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