The hemp industry has grown significantly over recent years as cannabis legalization has become more prominent. Notably, with the passage of the U.S. Farm Bill, the industry is primed to witness even further substantial growth. Historically, hemp has been used for centuries because of its multifarious nature. The plant was predominantly used as either an herbal medicinal treatment or as a resource or manufacturing purposes. However, now the U.S. Farm bill essentially legalized all products related to hemp, which includes hemp-derived CBD goods. Moreover, the legislation also allows for the commercialization and transportation of hemp products across state borderlines.

According to Zenith Global, the U.S. CBD-infused drinks market will reach an estimated $1.4 billion by 2023, making it one of the fastest-growing segments in the overall industry.

CBD is short for the term cannabidiol and is a natural component of hemp, the oil is extracted from the stalks, leaves and buds of the hemp plant which has a significant content of cannabidiol. CBD oil has become extremely popular in the medical industry as it can be used for the treatment of various medical conditions and has a number of health benefits minus the typical intoxicating effects of marijuana.

Recent studies suggest that CBD’s properties may be useful in combating a variety of health conditions such as epilepsy, schizophrenia, multiple sclerosis, migraines, arthritis, and even side effects of cancer.

The CBD product landscape is constantly evolving. Demand for CBD-infused beverages will be fueled by three key trends.

1. Changing Consumer Preferences: The decline of alcohol sales globally is evidence of changing consumer tastes. Sales are expected to fall further as more people exchange alcohol for cannabis products.
2. Product Innovation: Sustainable packaging, transparency around ingredients, more convenient ready-to-drink solutions, and personalized strains are driving the furious pace of product innovation.
3. Big Players and Influencers: Growing knowledge and increasing brand/celebrity endorsements are creating an established CBD industry in mainstream culture. Already, singer Willie Nelson and former NFL star Terrell Davis have put their names to two seperated lines of CBD-infused beverages.

As these trends evolve, consumers will benefit from more education around CBD, which could lead to more CBD products, like beverages, entering the mainstream across numerous industries.

[Source: https://www.visualcapitalist.com]