By White Buffalo Hemp Company | January 23, 2020
2019 was a big year for hemp and hemp-derived cannabidiol industries in the United States. We saw the implementation of the 2018 Farm Bill, the issuance of interim hemp production regulations by the USDA, and the development of regulations in nearly every state.
That being said, the U.S. hemp industry is far from normalized. The next few years will continue to be equally busy and we expect there to be drastic changes across the board. Here’s where we see things going in 2020.
Brands that don’t own or have a contract for control of its supply chain are going to have a hard time. And we wouldn’t be surprised if by the end of 2020, half of the brands that are on the shelf now are no longer there.
With additional CBD regulations are on the horizon, and we’ll start to see fewer CBD brands on the shelves that were releasing false information about the ingredients and potency within their products. There’s a chance that the CBD market may become less saturated due to these new regulations.
Look for new consumption methods to gain popularity in 2020. Consumers are looking past tinctures, gel capsules, and gummies as demand for innovation within the industry grows.As demand grows, so does the creation of new delivery methods that enhance the efficacy of CBD. We’re also seeing the development of functional products and products that pair CBD with natural ingredients like turmeric.
“Many cannabis consumers still have no idea what terpenes are, even though they make up a major aspect of cannabis consumption experience. In 2020, we’ll see more mainstream conversations about terpenes, and more awareness of what terpenes are and why they’re so important. With that, we’ll also see more discussion about the different compounds in cannabis, from CBN and CBG, moving past THC and CBD to learn from the rest of the plant.” —Brian Rice, Director of R&D, Boveda
Finding it difficult to keep up with the evolving world of CBD? You are not alone. Expect companies to make the move across the trust bridge by emphasizing education in 2020. With that being said, you will hear more about COAs (Certificate Of Analysis) as the market becomes a lot smarter, and more companies are going to re-test products to make sure that consumers are safe.
Currently, the FDA has only approved one CBD product, a prescription drug product to treat two rare and very severe forms of epilepsy. The reason? Lack of quality control might be the biggest issue. The FDA is aware of the many CBD products being marketed with unproven claims and that could be produced with unsafe manufacturing practices. But with significant public interest in cannabis and cannabis-derived compounds such as CBD, look for the FDA to work on answering many of the unanswered questions about the science and quality of products containing CBD through ongoing efforts. In their own words, “The FDA is Continuing to Evaluate the Regulatory Frameworks for Products Containing Cannabis and Cannabis-Derived Compounds.”
White Buffalo Hemp wants to make it easier for you to navigate the quickly changing world of Hemp and Hemp CBD. You can find more CBD resources on our blog, and don’t hesitate to reach out to us directly with any questions. We’re here to help.