Thanks to the Farm Bill of 2018 – a natural, abundant resource that provides raw material compounds that relax, calm, induce sleep, and help ease discomfort is now available. CBD, or cannabidiol, from the sturdy and fecund hemp plant, has become a groundbreaking consumer product industry with no signs of slowing down. CBD is found in high concentrations in the hemp flower as well as in cannabis; and by law, hemp itself is defined as a variety of cannabis plant that possesses less than 0.3% THC – the “high” ingredient. CBD products do not provide that sensation, so they are safe. The term “CBD” denotes more than 100 specific cannabinoids.
The Farm Bill, according to the Food and Drug Administration, “removed hemp, defined as cannabis (Cannabis sativa L.) and derivatives of cannabis with extremely low concentrations of the psychoactive compound delta-9-tetrahydrocannabinol (THC) (no more than 0.3 percent THC on a dry weight basis), from the definition of marijuana in the Controlled Substances Act (CSA).”
Very rapidly, CBD products launched and mushroomed. According to www.loudcloudhealth:
- The US CBD market grew 706% in 2019.
- 91% of Americans are in favor of legalizing cannabis for medical or recreational purposes.
- The pet CBD market increased by 946% between 2018 and 2019.
- The most popular method of consuming CBD oil is sublingual administration.
Cannabis market analysts at BDS Analytics (BDSA) and Arcview Market Research believe that the market for all CBD product sales in the US will exceed $20 billion in three years (by 2024). BDSA also revealed that:
- 66% of hemp-derived CBD consumers in the U.S. agree with full federal legalization of cannabis, with 90% believing that marijuana has medical benefits.
- CBD consumers are an average age of 40, have higher education, and are more likely than non-consumers to be employed full time.
According to the folks at Cannabis Promotions, which specializes in promotional CBD-containing products, “each state has different rules on how you can use cannabis swag and whether it can be used at all. In most legal states, you shouldn’t have a problem using cannabis swag to promote your business as long as you avoid a few things. For one, you can’t use cannabis swag to promote cannabis products to anyone under 21. Many states also forbid you from using certain words and images related to marijuana. Some states also prohibit certain methods of promotion. Some states require you to approve your promotional materials with a state department first whereas some prohibit swag altogether.”
Richard Salzman of Richard’s Gourmet Coffee, noted, “Our CBD products have resonated with clients looking for unique products with a ‘healthy’ or ‘relaxation’ theme. We continue to see increased interest in CBD coffee as a unique CBD and a unique promotional product.” Salzman added that CBD products have been most popular with health care (physical therapy) and also entertainment markets (such as promotions for nightclubs, bars, and restaurants). Your clients can have their logos/messages on CBD Coffee K-cup Singles (#KCUP-CBD), 8-oz. Bag Gourmet Coffee (#VB80-CBD), 6-oz. CBD Coffee (#VB60-CBD), and CBD Coffee Stand-up Bag (#SB15-CBD).
HigherPromos.Com (Portland, OR) specializes in hemp/cannabis accessories and can provide your client’s logo on storage jars, matches, lighters, rolling papers, rolling trays, ashtrays, and other cannabis-themed products. Similarly, Quality Logo Products (Aurora, IL), supplies a range of “logo-able” CBD-themed accessories such as metal grinders, child-resistant smell-proof bags, pre-roll tubes, rolling papers, glass jars, and trays.
The industry also offers a wide range of CBD products. PMGOA’s CBD-infused RLP Lip Balm (#AF-JIKYSI) contains 5mg of CBD Oil, which hydrates and softens lips and is said to help fight visible signs of lip aging, as well as PABA-free natural beeswax with vitamin E and aloe. PMGOA’s CBD Infused Mints (#AF-JIKT0) contains 10 mg of CBD Oil per mint that helps calm the nerves and ease tension. Other CBD products from PMGOA include Roll-on Cream (#AF-JIKYV), Liquid Infuser (#AF-JIK3K) in Black Cherry and Mixed Berry, as well as several tinctures.
There is a widening field of potential clients for CBD products. Think of wellness centers, chiropractors, spas/massage, psychotherapy practices and counselors, women’s health care, music events, and bands.
This product category is only going to continue to flourish as CBD sheds off old-myths and more consumers become familiar with its many wellness benefits.