For some time now, the global economy has seen a transformative shift post-recession. Following the ‘standard’ way of doing things falling to pieces, innovators and entrepreneurs have had to get smart about how they go about managing their business ideas. Out with the old, in with the new, as they say. This appears to be the case for the CBD industry, too, as the ‘healthy’ part of cannabis becomes a prominent part of the wider medical industry. What, though, is causing this rapid growth in popularity?
Indeed, as estimates suggest that we can expect a 700% growth in the CBD industry by 2020 alone, this is something that the world is witnessing at rapid pace. From a change in legality to the altering ways that we can take CBD oils into our systems, CBD products are benefiting from a mix of economic fragility, a need for innovation and an open-mindedness about the use of cannabinoids.
A global experience
One of the biggest surprises has been where CBD oil uptake has been witnessed as much as anything else. For example, in Paris, France we’re beginning to see a massive change in their attitude towards drugs. With a softening of drug laws, Parisians are now visiting the various CBD shops that you’ll find across the capital.
Now opening up its first coffee shops selling CBD products, too, western European nations are leading the change in how we look at drugs as a whole. The rise of CBD products in France comes partly due to the innovation economics that many people are forced to turn to. Many conventional business models no longer work or are insanely competitive: other markets must be explored, then.
In America, we’re beginning to see things like TV advertisements promoting CBD products: at the turn of the decade, that would not have seemed possible. With the fact that the industry itself is stated to be worth billions already and is only set to increase thanks to heightened demand, it’s easy to see why so many people are excited about this ‘green revolution’ to come.
It’s set to make a whole new industry form from the ground up – and that is a huge part of the excitement. What was once an industry seen for back-alley dealers is now one of the most upwardly mobile industries out there. For all the talk about a need to innovate the near-constant rise in demand for CBD products shows just how far this stretches.
While the industry might still be in its infancy in many ways, there is no doubt about the speed and scale of the change to come. Before long, we can expect the CBD industry to be stretching far beyond the small stores in Paris.