Over the last decade, the world has witnessed the meteoric rise of the CBD industry — an industry that once only catered to a handful of people within a semi-illegal context but now spans the entire globe and has received the nod of approval from dozens of world governments.
Even to those to whom the greatness of CBD is all too apparent, it might seem as though it’s too late to catch hold of the rapidly accelerating CBD industry train. Especially in this era of prevalent CBD private labeling, though, getting into the industry has never been easier, and the rewards are only becoming more rewarding.
Current CBD Industry Prospects
Even though hemp might not be in the headlines as much anymore, the CBD industry regardless stays in a very positive place for both producers and shoppers. Estimates vary, but it now appears certain that the global CBD market will become a multi-tens-of-billions-of-dollars industry within just a few short years.
What began in the United States is now spreading across the globe, both opening up new markets and providing CBD with the level of domestic legitimacy that can only be gained with the approval of the international community. There may have been a time in which the popularity of CBD could have been reversed and the trend stopped, but that time has long since passed. CBD is here to stay, ensuring either incremental or explosive long-term growth.
A Brief History of CBD
How, exactly, did the CBD industry find itself in such an opportune position? The path the industry took was not an easy one, and there were many moments in which everything could’ve gone wrong.
In the end, though, rational voices prevailed, and the force that truly allowed the CBD industry to thrive over the last five years was the lack of action from the federal government. Instead of strictly regulating CBD and funneling consumers toward pharmaceutical products, the FDA and DEA have essentially left CBD alone. This showed consumers that CBD was not a high priority to the federal government, most likely indicating that it was not particularly dangerous.
It’s true that many hemp farmers who entered the market with high hopes and low levels of preparation often failed to achieve their dreams. The same goes for shady CBD product manufacturers that valued profits over genuinely striving to offer the benefits of hemp in the most comprehensive way.
Not to be crass, but essentially, the children have left the room, and the adults are now in charge of the CBD industry. As a result, the industry is operating in an efficient and reasonable way that rewards hard work and helps consumers experience the benefits of this nearly miraculous cannabinoid.
The Future of the Hemp Industry
The future of the hemp industry looks bright. To use a medical metaphor, this is the stage in which an organ transplant has been accepted by the recipient’s body and the patient is on their way to recovery. CBD is now a part of the American natural health fabric, and it is making its way around the world.
CBD is no longer the arena for quick, easy money. In fact, it never was — some bad actors just treated it that way. As long as you’re a reasonably moral person and have the wherewithal to stick with your task, there’s no reason you shouldn’t be able to succeed if you decide to start a new CBD company.
The Bottom Line: Is It Too Late to Get into CBD?
The fear of missing out is such an ingrained part of our culture that it can sometimes even seem to apply to topics like the CBD industry. As long as there are people who could benefit from CBD but who have not yet been reached, though, there will be plenty of room for growth. Also, there are now millions of existing CBD consumers to convince that you have the better product.
So, do you want to get rich quickly by scamming people who are desperate and in pain? Or, are you seeking to make the world a better place with your unique talents, spreading healing and happiness in your wake? No matter how it may grow or change, there will always be room in the CBD industry for the latter sort of company.
