How will CBD evolve over years to come?
Increased interest and investment in the industry
Firstly we know that there are tons of CBD brands out there and over the next few years we can expect more and more to get involved. The Voice judge & Black Eyed Peas member Will i Am has launched a CBD brand, and David Beckham has seen the benefits and is now looking to invest.
One reason for this is due to the financial gain that is on offer given the booming nature of the CBD industry. It’s been estimated that the CBD market in the UK could reach £1 billion in the UK by 2025, and $20 billion in the US.
Wider knowledge, understanding and use
A quote by DOPE Media Co-founder and Chief Branding Officer David Tran says “In the future, I believe that CBD becomes more of a supplement like antioxidants/vitamins and mainstream consumer products start utilizing CBD within their ingredients, allowing the market to reach the masses. It’s going to be exciting when I can drink a Gatorade CBD after a long run!”
This is obviously an area that we are already on top of with some new exciting products on the way that combine some amazing ingredients to optimise different areas of our health, & we aren’t the only one. A lot of CBD companies similar to us recognise that the next the next logical step is spilling into the Vitamins market as a way of integrating the benefits of CBD with other exciting & beneficial ingredients.
Tighter regulations & more transparency
CBD is currently stuck when it comes to acceptance and market regulations. I feel as though the industry is on the cusp of a huge breakthrough, although it is still awaiting ‘federal acceptance’. I suspect that within the next 10 years we will see huge progress in this area. Coming up at the end of March 2021, the Food Standards Agency has given CBD companies a deadline by which to have a validated novel food application for each of their products. After this date, only products which have this will be allowed to remain on the market. This is a massively positive step for the industry and will eradicate a lot of companies that are not up to standard. It’s about time, as brands providing poor quality products that are not good for the consumer are tarnishing the industry by providing a negative experience. Pure Sport are leading the race to be the first to obtain this. We are already the most lab tested brand in the world, so for us the FSA is a great thing for the brand and for the CBD customer, and will make us the highest quality & safest CBD brand in the World, with the tests & certifications to prove it.
Move away from pharmaceuticals to natural alternatives
With heightened awareness & trust, it is also likely that we could see a move away from painkillers and pharmaceuticals, towards natural alternatives like CBD to treat issues including pain, and anxiety/ sleep disorders.
What is needed to fuel, manage and regulate this growth?
To see the CBD industry fully kick on, I believe clinical trials from medical experts are required. Given that we are still in the limbo stage whereby the unknown nature of the product is still prevalent, it is hard to know when this will be. Perhaps once the pandemic has subsided or at least died down, we might expect some bold and entrepreneurial minded medical professionals to break rank and fully lift the lid on the science behind CBD. There are plenty of testimonials from people all over the world who have experienced miraculous benefits from CBD, but the modern consumers now want wellness products to be backed by science, and that’s where official experts will be needed to confirm the benefits.
Ultimately, to topple huge pharmaceutical companies with natural alternatives, perceptions on the cannabis plant need to change. Slowly but surely the narrative is changing but for now, the mindset is still largely that cannabis is for stoners, despite the unlimited amount of health and mood benefits available from the plant.
Changes in CBD Regulations with regards to Advertising Laws
There is still a lot of uncertainty around how CBD should be classified which makes market regulation complicated. Despite the growing popularity of CBD, major social platforms such as Facebook and Instagram do not allow paid advertising of CBD products and Google currently has a ban on all CBD related key words. Since there is growing evidence that CBD has associated health benefits, there is a possibility that products could be re-classified as medicines in the future, but the ads would need a license to do so.
What emerging technologies will shape the CBD landscape?
Quality Tracking Software
According to Vermont-based start-up Trace, blockchain can be used as a way of providing accountability for CBD and hemp-related products. The goal is to make available details such as where, how and when a hemp plant was grown, and how it was processed. According to Trace, the idea is that one day consumers will be able to scan CBD products in the store to get information about the product’s origins. Having this verification is sure to become an industry gold standard, boosting consumer confidence, and should be a major selling point in product marketing.
Advances in extraction
If consumers are to see a benefit from CBD, the purest CBD extracts and highest quality CBD oils must be produced. There are a number of ways that CBD is extracted from hemp, but CO2 extraction is considered the most environmentally friendly, safe, clean, cheap and least toxic form, compared to using fossil fuels. Improving
About the author
Grayson Hart has been a pro athlete for the last 14 years reaching the international stage throughout his career. In 2014 aged only 25 Grayson was diagnosed with osteoarthritis in his knee. In the prime of his career he was having to take pain killers everyday to try perform at full capacity. In 2017 Grayson heard of CBD oil as UFC and NFL athletes started speaking about the profound benefits. Grayson had mixed experiences with different CBD brands and on further research he found that the CBD world was very unregulated. This took him on a global search for a trusted CBD brand that had the transparency he needed as a drug tested athlete. Despite this search, Grayson was disappointed that he could not find a brand that gave a guarantee!
Grayson and his co-founder Adam connected with one of USA’s leading hemp farm and lab facilities to create a bespoke oil that was of the highest quality and went through 3rd party lab tests on every single batch to guarantee the most effective and safest CBD possible. After over a year of hard work, gathering funds and bringing together a team of experts, in late 2018 PureSportCBD was born.