As the sun rises on a new day, another CBD brand appears. It's selling the same white label CBD products as all the others, made from oils that are rich in CBD and low in THC. The only difference is that the product has been packaged in a slightly different container, and there's a new name and logo printed on top. The CBD market has quickly become the area of the cannabis industry that's suffering most from a lack of differentiation. So, what’s a CBD brand to do? Well, one recommendation would be to partner up with a CBD formulator.
The passing of the 2018 Farm Bill gave CBD exactly what it needed to soar. As a result, the CBD industry in 2019 has already experienced exponential growth. Data suggests the trend will continue in the years to come, with the CEO of ArcView Group, Tony Dayton, predicting that CBD product sales will climb to $20 billion by 2024. For CBD brands and businesses, both established and emerging, this can only mean one thing… heightened competition and less opportunity to control market share.
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