Do you want to know about CBD Market Growth? Cannabis, also named marijuana, is a psychoactive drug. It is derived from the cannabis plant with unique properties. It is beneficial for medical and recreational purposes. Cannabis is one of the most popular drugs in the United States. People can consume it through food, smoking, vapor, and as an extract. The vaping crisis the previous year from the illegal market, there was a major impact on the cannabis industry. It led to considerable damage to the industry. This made the vape packaging companies near me to be on high alert, as safety is the topmost priority when producing vape products. Still, the experts are saying to experience a boom in the cannabis market this summer.
Effect of COVID-19 on CBD market growth:
Covid-19 has influenced a lot of businesses in the world. The main impact was due to the restricted movement of the people. The vaping market was growing rapidly until COVID-19 threw everyone for a loop. Then came 2020, a year of respiratory illness, where the government restricted everyone to wear masks and maintain social distancing. The majority of the businesses were affected badly, seems that the use of cigarettes and vapes should also be fizzling out. However, according to experts, it is not the case.
While most people know that smoking is harmful to the lungs, a lot of them still consume marijuana. It is a way to overcome the stress of the virus and long hours of boredom while staying at home. Smoking marijuana may lead to lung irritation or chronic bronchitis. Unlike smoking cigarettes (tobacco), it has no connection with abnormalities in lung functioning. Cannabis is generally associated with less lung damage. Moreover, you have to be concerned about the presence of unknown chemicals in the cartridges. Despite the clear medical advice, Experts Opinions in the cannabis industry still believe vaping will make a big comeback this summer, even a stronger one than in the previous years.
The Opinion of Experts:
According to Tom Brooksher, the CEO of Clear Cannabis Inc, summer is a perfect season for increasing the sales of cannabis. In summer, people purchase our products more to enhance their holidays and time spent outdoors. With the fewer restrictions, we expect a sudden increase in demand for cannabis products. Many brands can conveniently sell them in conjunction with outdoor activities. We are also expecting the reopening of tourism in key tourist cannabis markets, like Nevada, California, Colorado, and Florida. All this will positively impact the sales of vape products.
Cortney Smith, the CEO, and Founder of DaVinci is of the opinion that even though we enter an uncertain economy during a recession, he still believes that the USA CBD Market has been growing steadily over the past few months and is expected to flourish more. The COVID-19 pandemic has opened more opportunities for people to cope the stressful time. A rise in improvement was seen in new consumers.
Elizabeth Hogan is the vice president of brands at CHG Inc. She also shared her opinion about the boom in the cannabis market, saying that we see people returning to their favorites, including vape products. With the fear of spreading germs, cannabis sales will continue to grow as consumers are moving away from shared joints/bowls. Vaping products are less harsh on your throat and lungs as compared to smoking and take effect more quickly than edibles. This summer is going to be awesome to bring your cannabis.
Other experts have said that with an increase in stress levels among people, vapes have become personal devices as compared to joints. People share these devices with their friends. The customers reported a notable shift from traditional joints to vape pens, driving health and sanitary concerns. This is also the reason why the vaping market will continue to grow in the upcoming years.
Newly Legalized Hemp will Boom the CBD Market growth:
According to the latest legislation, with the removal of the federal ban on cannabis, the market will experience a big turnover. It will bring thousands of new jobs across multiple sectors, starting from agriculture to processing, manufacturing, and the budding industry. According to New Frontier Data, the hemp market was $1.1 billion in revenue in 2018, and it may reach to get more than $2.6 billion by 2022. The hemp industry will create a large number of high-skilled management jobs, labor jobs, and everything in between. Thus laying the foundation for a tremendous boost this summer.
You should know that despite the hemp’s new federal status, the Farm Bill permitted individual states can establish their agricultural or commerce programs. As a result, 41 states allowed the cultivation of hemp for commercial, research, and pilot programs.
Cannabis Packaging Plays a Vital Role:
In addition to the above factors, the way box manufacturers near me package their products hold significant importance in boosting sales. There was a time when no special care was necessary for the packaging of products like cannabis packaging boxes. With the increase in demand and market competition, the manufacturers realized the importance of custom boxes. They choose elegant boxes for packaging cannabis products. Custom printed packaging can create a significant influence on customers’ minds. Nowadays, vaping is becoming a growing trend. The producers sold cannabis in the form of e-liquid created in an array of flavors to excite the young generation and make them give it a try.
The printing box with attractive colors and fascinating images to highlight the flavor is an effective way to sell your brand. It entices the customers by making your products different from several other offerings. Moreover, the use of cheap custom boxes made up of cardboard protects the product at its best. All these aspects will result in a boom in the cannabis market in the future. The demand for cannabis is increasing over time. According to experts, several factors would collectively result in the booming of the CBD Market Growth this summer.