CBD as an industry is growing, and the market is forecast to continue its upward trend. Despite recent challenges due to the Coronavirus pandemic, CBD oil and other CBD products have increased in popularity.
While many industries have been hit hard in 2020, more and more people are discovering CBD oil as an effective supplement for handling stress and reducing anxiety, not only for themselves, but for their pets as well. Reasons for this may be because pet owners are spending more time with their pets due to the pandemic and noticing more of their needs. Additionally, many dog owners are able to take their pet on more walks which in turn can lead to sore muscles.
CBD oil successfully reduces stress-induced anxiety in adults and pets. It’s also excellent for depression and general mental health issues. Additionally, where typical treatments for these types of mental ailments often involve addictive benzodiazepines or other drugs with a variety of side effects (including drowsiness, headache, sexual dysfunction, and insomnia), CBD oil is a natural alternative.
Interestingly, the 2020 health crisis has seen a decrease in legal marijuana sales in most U.S. markets. At the same time, many parts of the country have experienced their strongest CBD sales in March/April and onward. CBD products are expected to see market growth at a rate of 31.9% between 2020 and 2027.
Some of the likely reasons for continued growth in the CBD market include the growing frequency of psychological issues due to the pandemic, an increased number of CBD products being produced, and expanding circumstances of individual self-care. What’s more, the legalization of cannabis farming is progressing, and most who discover the benefits of CBD become returning users.
Overall, 2020 is a landmark year for CBD oil and the CBD market. As more information and knowledge spread regarding CBD and its benefits, so too will the market continue to grow to meet the demand. CBD oil is on the rise in 2020 and the future looks promising.
Try our Jamie Sterling CBD oil today!