Welcome to 2020 everyone! 2019 was a great year for CBD, but there’s no stopping the industry in the years to come.
The experts have weighed in, and here are our CBD industry predictions for 2020! It’s going to be a big year!
6 CBD Industry Predictions
1. More Research
If you’re paying attention, you know that science into CBD is unfortunately lacking. There are major gaps in the literature, and more study is desperately needed. Not only will this research help legitimize the industry, it will help to back up what many of us already know to be true: CBD is amazing!
Thankfully, in 2019, the Federal government announced that it would be committing significant funding to studying CBD. This included grants totalling $3 million, coming from the U.S. National Institutes of Health’s Centre for Complementary and Integrative Health, which will fund 9 national studies on CBD.
In 2020, expect to see not only some prelim results of these studies, but also the announcement of many more!
2. Increased Awareness
CBD is no longer the new kid on the block, but it still has some hurdles to jump as far as public awareness. Many remain confused as far as what exactly CBD is, how it works in the body, and the fact that it’s different from THC.
Hopefully, this increase in awareness will also lead to a decrease in stigmatization, something we continue to see (for both CBD and THC), in exchange for a greater celebration of the many benefits both of these substances present.
3. A Focus on Product Safety
With this increased awareness, expect to see a greater focus on product safety. With last year’s vaping issues, more and more people are aware of the risks of black market products. Consumers now, more than ever before, have access to the knowledge that allows them to separate the good from the bad.
More and more focus, we believe, will be put on certificates of analysis, reading and understanding products labels, and of course getting CBD from a reputable source.
4. More Info on Other Cannabinoids
If the last few years have been the “Years of CBD”, 2020 will the “Year of the Cannabinoids.” Yes, CBD isn’t going anywhere, but other cannabinoids will start to share that spotlight. This includes other cannabinoids like CBG and CBN, two minor cannabinoids found in full spectrum hemp, both of which come with their own benefits.
And of course we can’t forget about terpenes, those natural compounds responsible for the earthy flavor, rich smell, and diverse colors of cannabis.
5. More Movement from the FDA
To date, the Food and Drug Administration has said a lot, but done very little, with CBD regulations and enforcement. While promises were made, we saw very little in the way of regulations in 2019. That said, in November, the FDA upped the ante by sending out 15 warning letters at once – a huge jump from previous months.
Is there change on the horizon? Congress did sign an appropriations bill allocating $2 million to the FDA in December. Many have also been calling for increased measures to regulate and standardize the CBD industry. If 2020 is the year, expect to see things like testing requirements, packaging and labeling rules, and further advertising restrictions.
6. Even More Weird & Wacky Products
This is a double-edged sword. As those in the CBD industry push for more research, we’re seeing a greater focus on products that bring CBD convenience across the board. Sometimes that’s a good thing. Often, however, it isn’t. In 2019 we saw a ton of different CBD products – things like CBD infused leggings, CBD infused mattresses, even CBD toilet paper – that make us wonder if the craze is going just a bit too far. Just because you can, doesn’t mean you should.
While this trend is likely to continue in 2020, hopefully it will also mean a range of new CBD products that actually do benefit our health and wellness.
2020 CBD Industry Predictions
2020 stands to be a year filled with changes and transitions for the CBD industry. We’ll be right here the whole time, sharing the news. Stay tuned for updates all year long!