According to Forbes, the CBD market is one of the fastest growing industries in the world today and it is targeted to reach $20 billion by 2024. Due to rapidly changing laws and legislation, such as the passing of the farm bill in 2018 in the US, people are waking up to the benefits of CBD and new businesses are realizing the boundless opportunities. We are in the midst of a CBD ‘hype’.
First things first, what is CBD? For those unfamiliar with the plant extract compound, there is a haziness around it. Many people think that CBD and marijuana are one and the same, but this is not the case, however, both are derivatives of the cannabis plant – and the cannabis plant is getting a makeover. Gone are the days when cannabis is solely associated with an underground ‘stoner culture’ which is often linked to the trope of the ‘stoner bro’. Today the benefits of cannabis, or the hemp plant to be more precise, are reaching every demographic, men and woman of all ages. In short, cannabis is moving into the mainstream.
CBD is a naturally occurring compound taken from the hemp plant, it interacts with the CB1 and CB2 receptors in our body – or more specifically in our endocannabinoid system. These interactions cause a reported multitude of effects including increased blood flow, lower stress, and anti-inflammatory properties amongst many others.
The capabilities of this compound are being explored and discovered every day, and as awareness increases so does the investment into research from leading health and medical organizations and governments. Businesses are catching on to this emerging market and we are now in the midst of a CBD boom, with products ranging from vapes to skin creams, to turmeric infused CBD lattes. As this is an ingredient which really could help everyone, young and old, from all walks of life, businesses are smart to create the correct product for each audience.
So as a business owner or entrepreneur how exactly do you break into this lucrative market? The most important aspect when it comes to launching a CBD product, or CBD business, is to ensure you have procured the best quality extract from a trusted wholesaler. Whilst it is good news that more and more people have found a natural alternative to improve their quality of life, this leads to a new and largely unregulated market which makes room for low-grade operations to cash in on the ‘hype’.
Reakiro is a European leader in the industry, made up of a team of professionals who share a core value of reintroducing hemp into people’s lives, and ultimately to change the world, naturally. Having taken years of planning and preparation, their venture is based in Poland where they sourced the most arable land and optimal climate to grow hemp. This claim of high quality is supported by Certificates of Analysis from third-party laboratories abiding by the strictest European standards, published on their website. Reakiro is looking to connect with new businesses as a wholesaler, to provide them with their full spectrum hemp oil (which includes the sought after CBD, amongst other beneficial cannabinoids), and also supporting materials and marketing strategies. Ultimately, Reakiro wish to enhance the quality of CBD businesses in the industry, leaving no room for low-quality producers who wish to exploit the hype.
As far as experts can predict, the CBD industry is going to grow exponentially for the foreseeable future. The full spectrum of benefits are yet to be discovered and the full potential is yet to be reached. So if you’re considering entering the CBD market (which seems like an opportunity not to be missed) via a business of your own, be certain that you team up with a wholesaler who can provide you with trusted high quality CBD , your key component to success.