CBD Industry 2019 Global Market Research Report, published in July 2019, provided a detailed analysis of the CBD market size, key trends, segments, shares, technologies, producers, challenges, market drivers, opportunities, standardization, industry future, and also 2024 prediction.
The research report also focused on the overall CBD industry, including all of the factors that influence market growth. The report included quantitative analysis of the Cannabidiol (CBD) industry as well as data used to develop the industry’s growth strategies.
The CBD industry will reach $20 billion by 2024, according to the latest study from leading cannabis analysts “BDS Analytics and ArcView”. The forecast is based on items sold in pharmacies, authorized dispensaries, and the general retail industry, which includes smoke shops, cafes, grocery stores, and pharmacies as well.
BDS Analytics also predicted that CBD products has sold in large quantities in general retail stores. Instead of cannabis dispensaries. CBD-based product sales will be seen primarily through other sales channels as well. Indeed, BDS Analytics predicted 49% annual growth by 2024, with the total market for cannabinoids expected to generate $45 billion by 2024.
The concept of CBD and its derived products appears on the market every now and then, and it generates a lot of buzzes everywhere. CBD oils and items flavored with them are making a big splash among customers. In case you’re wondering what it is, CBD is a substance derived or extracted from cannabis plants or hemp strains.
To make it prepare for use, firstly it is extracted from the plants and then combined with other carriers like hemp seed oil & coconut oil. Because it is the most common compound right now, manufacturers have focused more on manufacturing eye-catching and high-quality product packaging. We’ve mentioned how Custom CBD boxes are rapidly evolving and why it’s important to further below in this article. Keep reading to know more about them!
Growth of CBD Product Packaging
By following the legalization of growing marijuana, production, and sale, manufacturers have focused to raise their efforts. CBD is now widely available. Including skincare, healthcare, beverages, and cosmetics. It’s largely due to the promising therapeutic properties and benefits that CBD has shown in a variety of convincing studies.
As these products are so popular, they deserved packed in packaging that complements the products packed inside. The packaging industry has begun to pay more attention to the packaging of CBD products. As the hemp industry is rapidly growing, major players and investors seem to be involved in investing in the business. Most countries have now allowed the conditional use of CBD products after the legal barriers to their use were eliminated. Since the hemp industry has grown so quickly, the competition has also become extremely fierce within the industry. Therefore, the brands are still busy producing unique and creative custom CBD boxes.
Brands have also begun to customize their CBD boxes design in order to stay ahead of the competition. Custom CBD boxes allow them to choose the color, design, style, scale, material, and printing they want. It not only helps them to draw more customers, but also helps them to increase revenue and profits. The packaging of CBD products has become extremely important, as it determines whether or not the product can sell.
Importance of Custom CBD Packaging Boxes:
If you want to succeed in the CBD industry, you must ensure that your goods stand out from the crowd. The well-designed custom CBD product boxes will help you to build your brand identity and set you apart from competitors in the same industry. CBD packaging is becoming more important in the growing CBD industry. You have a variety of CBD packaging options to choose from while packing your products.
There are also various customization options available, ranging from foil stamping to digital printing. We are all aware that CBD is rapidly gaining popularity in the beauty industry due to its anti-oxidizing, oil-balancing, and soothing properties. Unilever, L’Oréal, Estée Lauder, and other leading brands in the beauty industry are adopting the use of CBD oil in their products. Furthermore, they use exceptional CBD packaging design to establish a positive and unique brand image in the market.
Main Objectives of CBD Packaging Boxes:
When it comes to presenting or selling a CBD product, the packaging is important. The primary goals of proper packaging are as follows:
Goods protection: CBD goods are very sensitive to a variety of factors, including vibrations, electric shocks, and temperature fluctuations. Proper packaging meets the requirement of avoiding such situations, thus protecting the CBD products from any means of damage.
Marketing Strategies: According to the significance of different companies, CBD Packaging grabs the attention of a lot of buyers. Packaging with a different color effect that is relevant to the brand, as well as the use of custom boxes with a logo, are often very useful in the product’s advertisement and marketing strategies.
Convenient usage: A proper packaging also provides a place of safety.
Security Concerns: There are Risks very common. Proper packaging increases product security by reducing burglary, material tampering, and product substitution.
Because of the various properties of CBD, the hemp industry is also growing with every passing year. Such as balms, creams, lotions, skincare products, makeup products, and many more ahead. There is no doubt that packaging is the most important factor to make these products well-known in the market.
Customers prefer beautiful custom boxes for their beauty and skincare products, and the packaging industry has tried to provide you innovative packaging solutions. Today, CBD packaging boxes are making a significant contribution to the overall business, which is expected to reach $22 billion by 2022 and $45 billion by 2024.
We at CPP Boxes are providing high-quality packaging boxes for various industries. Precisely dealing with the clients in US business market we are specialists in the production of economical packaging boxes. The various types of boxes produced by us include CBD packaging boxes, bakery items, chocolates, cosmetics, gable boxes, corrugated boxes shipping boxes, and much more. Reach us through email or a phone call and get an economical price quote for your customized orders. Get in touch with us @888 395 0493