Forecasts show that the global market for CBD (cannabidiol), which is currently valued at $9.3 billion, will have reached almost $24 billion in revenue by the year 2025. The future is promising for businesses getting into the CBD market, given its expected compound annual growth rate of roughly 22%.
Currently, North America is in the industry lead worldwide, making up 40% of the international CBD market share. However, it may not dominate the market much longer, as Europe is catching up with 30% market share. The Valens Company, which is a global leader in the manufacture of innovative CBD-based products, is one of the companies, which are well positioned to meet the global demand for CBD.
By providing customizable services, which range from processing and extraction to analytical testing, product development and white labelling, Valens is a company of choice for those in the CBD wellness industry or those planning to venture into it.
You may be asking, but why is CBD so popular?
CBD is one of the pair of most commonly studied and used cannabinoids found in the cannabis plant, the other being THC, which is the psychoactive compound that induces a high when ingested. Multiple studies have found that CBD offers various potential wellness benefits. For instance, CBD has the potential to relieve inflammation and alleviate pain, with its soothing properties also being used to aid in relaxation. Products such as CBD oil have also shown promise as a treatment for anxiety and depression and can also be used to help treat acne.
The market for ingestible products such as CBD beverages, chocolates, brownies and gummies is also expanding. This is mainly being driven by the ease of use and the discretion of ingestible products.
Research has also found that CBD-infused topical wellness products, which come in formats such as sprays, balms, creams and lotions, also have the potential to act on an individual’s endocannabinoid receptors in the nerves, skin and muscle tissues at the area of application. Preclinical research has also demonstrated active involvement of cannabinoids in maintaining skin homeostasis, which explains the growing interest in CBD’s potential as a topical product.
In the past, safe market development for CBD was limited due to the lack of clear regulations and the restrictions imposed on CBD and its products. Now, however, with legislation on CBD moving towards guidance and regulation, the demand for CBD products continues to grow, which creates more opportunities for brands that are already participating in the cosmetics, food and beverage, and health and wellness industries, or those venturing into it.
Companies such as Golden Triangle Ventures Inc. (OTC: GTVH), which have a focus on hemp-derived wellness products, can look forward to benefiting from the increasing interest in cannabinoid-infused products around the world.
NOTE TO INVESTORS: The latest news and updates relating to Golden Triangle Ventures Inc. (OTC: GTVH) are available in the company’s newsroom at https://nnw.fm/GTVH
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