9 CBD Trends for 2024
As 2023 is drawing to a close, it is time to peek into what 2024 holds for the CBD industry. What are the latest CBD trends and news?
CBD was once a niche product that was tarnished by marijuana’s fame. Nowadays, it has rapidly emerged as a leading force in the wellness and healthcare sectors. CBD is a botanical compound derived from the hemp plant. Part of the reason why CBD has gained widespread attention is that people perceive it as a wholesome and natural ingredient.
As more and more people discover CBD, it’s only natural that the industry and the market respond to this increasing demand. Research shows that the United Kingdom is a leading consumer of CBD products in Europe. CBD edibles are the most popular product category but new consumption methods and novel products are hitting the market almost daily.
It looks like the new year will see the consolidation of CBD’s presence in people’s everyday wellness routines. It will also be the time when technology meets CBD: better extraction techniques and customized CBD products could come to the forefront of CBD consumer tendencies.
1. Pharmaceuticals are leading the way
Most consumers are taking CBD as a food supplement, without a doctor’s prescription. They include CBD in their daily routine for better well-being and to manage their health.
This is a trend that’s expected to continue in 2024. However, with more research around CBD, pharmaceutical companies are turning to CBD-based medicines. There is already Epidyolex, which is targeting specific children’s epilepsy conditions. The current focus of pharmaceutical companies is likely to be effective pain management backed by scientific research.
It is estimated that one in five people is affected by chronic pain in Europe and the United States. Therefore. finding a therapy that works will improve the lives of millions of people. NSAIDs are the most common medicine people take to manage their pain, but patients are looking for more effective medicines with fewer side effects. CBD appears to have pain-relieving properties and it is expected that pharmaceutical companies will target this area to develop conventional drugs based on CBD.
Scientific research into CBD’s therapeutic properties is expected to grow, potentially uncovering new health benefits and applications. As more clinical trials and studies emerge, the medical community’s understanding of CBD will deepen. This will possibly lead to broader acceptance and usage in mainstream healthcare. This research could also help in refining dosage guidelines and usage recommendations for various health conditions. Remember that the NHS has not issued any recommended daily allowance for CBD so dosage is based on a case-by-case basis.
2. Increased Legal Clarity and Regulation
For pharmaceuticals to focus on CBD as a therapeutic ingredient, there needs to be increased legal regulation. It appears that the world is moving towards legal clarity.
In 2024, the CBD industry is expected to see more defined legal frameworks globally. Governments, recognizing the potential of the CBD market will establish clearer regulations that standardize the cultivation, production, and distribution of CBD products. The United Kingdom, with the novel food category, is moving towards a regulated framework for CBD.
This regulatory accuracy could help eliminate ambiguities that currently exist in various regions and lead to more consistent quality standards and improved consumer safety. Moreover, it would likely attract more investors and businesses to the industry and foster growth and innovation.
3. CBD moving onto the luxury market
The luxury market is converging on CBD. Customized CBD products with the help of technology could create tailored-made CBD with varying levels of cannabidiol, terpenes, and flavonoids.
Personalised CBD products will match people’s bodies, ailments, and health requirements so that they get the most of CBD’s potential. With the help of AI, CBD manufacturers are moving into the luxury market whereby personalised CBD products will be more expensive but also more adjusted to what each person needs.
We could also see products targeting specific health and wellness concerns, offering consumers personalized CBD solutions. This diversification would cater to a broader range of consumer needs but also help in de-stigmatising CBD usage across different demographics.
4. Improved bioavailability
A problem with current CBD products is bioavailability. Bioavailability refers to the amount of CBD that ultimately reaches the bloodstream after it’s been processed by the digestive tract, the lungs or the skin layers. For edibles, bioavailability is around 5 to 15%, which means that up to 95% of CBD is lost before it manages to reach the bloodstream and take effect.
Nano-emulsions and novel ways to help CBD stay longer in the body will make CBD more efficient in 2024. CBD is lipophilic, which means it blends in oil and fatty tissue. It doesn’t blend in water. A nano-emulsion encapsulates oil which contains CBD, into a water coating. The human body, which is made of water, first identifies the water coating and starts digesting it while CBD is hidden inside. This maximizes bioavailability and helps CBD reach the human body in higher concentrations.
Why does improved bioavailability matter? Because it can help CBD manufacturers produce CBD products that are more effective even at lower concentrations. This means more affordable products, more efficient, and with lower side effects because of the low CBD concentrations.
Water-soluble CBD could offer enhanced absorption and efficacy. The development of CBD-infused products in various sectors, including CBD cosmetics, wellness, and even pet care, is likely to accelerate.
5. Quality and Transparency
As the market matures, the emphasis on quality and transparency will likely become more pronounced. Consumers are becoming more knowledgeable about CBD and demand higher quality products with clear, lab-verified information about CBD content and the absence of contaminants.
Brands that prioritize transparency in their sourcing, manufacturing processes, and lab testing will gain a competitive edge in 2024. This trend could also lead to the development of more sophisticated testing methods to ensure product purity and potency.
CBD is associated in people’s minds with nature and wholesomeness. It makes sense that people are requesting CBD producers to improve on these qualities with better extraction methods and more accurate testing to achieve more beneficial results.
6. Market Expansion and Globalization
The globalization of the CBD market is likely to continue in 2024, with more countries potentially easing restrictions on CBD products.
This expansion will increase the availability of CBD products worldwide. There will be more demand for CBD but also more international regulations. Because people’s tastes and expectations vary immensely, new, surprising products will pop up and enrich the market. As for companies, if they can navigate these complexities effectively, they will be well-positioned to capitalize on emerging global opportunities.
7. Sustainability and Ethical Sourcing
CBD and sustainability is a hot topic and the trend towards sustainability could significantly impact the CBD industry. Consumers and businesses are becoming more environmentally conscious, which may lead to increased demand for organically grown hemp, eco-friendly extraction methods, and sustainable packaging.
For example, organic CBD contains no heavy metals or chemicals. Industrial hemp, as a plant, tends to clean soils of contaminants, heavy metals, and chemicals, thanks to its deep roots. Organic CBD makes sure the product you use doesn’t contain any of these. As the world is moving towards more eco-friendly growing methods, organic CBD becomes more than a health imperative.
Ethical sourcing practices, ensuring fair labour conditions, and minimal environmental impact are becoming crucial factors in consumer decision-making.
8. E-commerce and Online Sales
The convenience of online shopping alongside digital marketing is making e-commerce an even more vital channel for CBD sales. Improved online platforms offer a wide range of products, including educational content. That’s what creates trust among consumers.
Advancements in logistics and distribution can make the online purchasing experience, making it more efficient and accessible, especially with the help of AI.
9. Consumer Education and Marketing
As the market grows, educating consumers about the benefits, safe usage, and differentiators of CBD products becomes increasingly important.
CBD companies in 2024 should invest more in educational campaigns through various platforms to inform and engage with their audience. This trend will lead to a more informed consumer base. It will also reduce misconceptions about CBD and encourage responsible usage. It’s a safe way to expand customer segments while doing something good for the CBD industry at large.
CBD Trends in 2024
It has now been six years since CBD first entered people’s lives. The new year is here to entrench CBD as a possibly helpful compound for better wellness.
New scientific findings shed light on its benefits and applications while sustainability is becoming a core component of CBD production. CBD is poised to play an increasingly significant role in wellness, medicine, and consumer goods.
Consumers are becoming more demanding and request quality and sustainable practices. They also look forward to bespoke CBD products that have been developed specifically for them and with their body and health expectations in mind.
The CBD trends in 2024 are marked by people strengthening their knowledge and acceptance of CBD. There now needs to be innovation and leaps in product quality to satisfy an increasingly demanding clientele. Consumers, business owners, and healthcare professionals are staying informed and adaptable in the face of these trends.