The Next Big Thing in CBD: Hemp Flower
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The Next Big Thing in CBD: Hemp Flower
Hemp flower is the new craze on the block, with big potential to disrupt the entire CBD and hemp industry. Its popularity is quickly picking up speed. In 2020 alone, the hemp flower market is valued at 80 million, and it’s estimated to grow 5 times that in the next five years.
The CBD boom won’t last forever, and people are starting to realize that the golden age will eventually settle down into something more steady. But does that mean hemp products aren’t worth investing in? Of course not! This plant has so much to offer, and now there’s more interest than ever in hemp flower.
If you’re one of the curious bunch who is wondering whether hemp flower is a good move, keep reading. This is a promising industry that has already started garnering attention, and it doesn’t look like it will slow down any time soon.
What is Hemp Flower?
Just as it sounds, these are the “flower” buds that grow on the hemp plants. Unlike other CBD products that require extraction and manufacturing, hemp flower requires less work because it’s derived straight from the plant. Even though it’s simply a high quality plant material, it provides the same effects that CBD users have come to know and love.
The Hemp Flower Market Now
If you were impressed by the growth of CBD products like CBD edibles and concentrates, get prepared to be blown away by hemp flower. This is the fastest-growing sector of the hemp industry, and it’s even starting to cast a shadow over the previously mentioned products.
In fact, CBD operators faced some challenges recently due to the COVID-19 pandemic. This led to several brick and mortar stores to close and online sales to slow down because of limited consumer income. However, smokable hemp is an area that doesn’t seem to be affected by this, as it continues to grow in popularity.
Between 2018 and 2019, alone, the hemp flower market saw a huge jump in profits going from $11.7 million to $70.6 million. That’s over a 500 percent year-to-year turnover rate! That’s just what we’ve seen already, though. What about the industry’s potential?
Nielsen conducted their own survey to analyze the overall growth of CBD products, and they found that 2020 is expected to see huge profit margins. Their projections for the future were even more surprising. The smokable hemp market will reach between $300 and $400 million by 2025.
This roughly translates to about 5 percent of the entire CBD market, which is expected to be valued at $6 billion to $7 billion by then. That may seem small, but when looking at the turnover, that’s a significant percentage in a relatively short amount of time.
A Fresh Opportunity
The CBD industry is fairly new, in general, but the smokable hemp market is even newer. Once the Farmer’s Act of 2018 was passed, the market was overtaken by edibles, capsules concentrates, and even products like gum, face serum, and toothpicks, but there wasn’t much available in terms of smokable hemp. All that’s changing, though.
The number of growers providing hemp flower has started to flourish, and so have their bank accounts. Even though it requires more labor, producing smokable hemp flower turns a much higher profit than producing CBD. And they’re not just seeing the benefits in profits, either. They’re also seeing increased productivity because compared to CBD products, hemp flower is a lot faster to produce.
The increased demand for hemp flower doesn’t just benefit farmers, though. Retailers and distributors can also benefit from the added variety it provides to consumers. By offering smokable CBD hemp flower, you’re giving customers another way to enjoy it without the risk of experiencing the psychoactive effects of THC. What makes it even better is its availability. Hemp-derived CBD products are legal across the US, as long as they don’t contain more than 0.3% of THC Delta 9, and only a couple of states have banned the sale of hemp flower.
Find Out More
If you’re a retailer or distributor, contact us today to learn more about how our sister company Terpy J’s wholesale hemp flower and hemp flower joints can boost your business!