How much do you think a dealer makes every year?
How do you think they operate or even promote their business?
Do you know what the best ways to promote a cannabis business are?
The best ways to promote a marijuana business is through word of mouth and social media including Facebook, Twitter, and Google. But, social networks don’t allow any advertisements unless it’s legal. Therefore, many companies lose out on marketing on social media.
Marijuana legalization didn’t change the strict policies. However, CBD (cannabinoid) is seen under a different light. Therefore, CBD businesses are openly using social networks to promote themselves. CBD is a growing industry which already is worth $1 billion or more.
We are going to analyze the cannabis market to evaluate its current value. It will help us understand the projected growth for the next couple of years.
Saturated Market
Multi-industry companies (conglomerates) wants to make money selling CBD products. Many have already introduced their CBD products line, and are aggressively promoting it. There are many examples of established companies creating a CBD subsidiary and launching an aggressive marketing campaign.
Therefore, the next time you see ads like “CBD Oil For Sale Online OR Buy Pure THC Free Verified CBD Oil,” it means a new CBD Company launched its product and wanted to spread the word.
CBD Oil – A Growing Industry
The CBD market saw dramatic growth after the legalization of weed in America. The growth is continued as countries like Canada and Germany are in talks to legalize cannabis. Many countries from Europe and Latin America are also reconsidering their cannabis reforms. America has been a leader in marijuana reform, but other countries are setting up their medical programs, and this will help the marijuana industry grow indefinitely.
History Check from 2015-2017
In 2015, hemp-derived products made a sale of $90 million and marijuana-derived products were sold for another $110 million. This means the cannabis sale in 2015 was close to $202 million in the US alone. The total sale volume exceeded $2 billion around the globe.
According to our analysis, the medical marijuana retail sales exceeded $1.6 billion in the US alone. It surpassed $2.2 billion in 2016 and $2.5 billion in 2017. The market will grow 700% by 2020.
Traditional marijuana users want to try CBD. This trend puts the CBD industry in a very optimistic light as financers and industry insiders are willing to back up new CBD businesses.
Growth in 2018
The second quarter of 2018 has finished, and the marijuana industry has already made $1 billion so far.
A common user doesn’t understand the difference between cannabinoid and THC. They don’t understand what they consume. The internet played a significant role as more than 60% of CBD sales are now made online.
After marijuana legalization, a large number of small companies dealing only in CBD products emerged. This calls for concern as most startups don’t follow regulations carefully. Considering everything, the CBD industry should achieve a target of $3 billion revenue by the end of this year.
What to Expect by 2020
Many analyses give a different figure. However, all of them point out that the CBD industry will be worth more than $3 billion by 2020. A report published in 2017 said the CBD market would enjoy a 55% yearly growth for the next five years.
It makes marijuana one of the most profitable markets to invest in. Most renowned investors have already taken significant steps to establish themselves in this growing market. It’s safe to say that the word “promising” is underwhelming for CBD market growth.
