Without a doubt, the CBD market in Canada is now thriving. And it’s also predicted to keep growing for a few years to come. This is huge for Canadians who love and rely on CBD a lot. Not only that, but Canadians who have never tried CBD before will have a much easier time to start now compared to a few years ago.
The CBD market in Canada is worth about $1.44 billion in 2020 and is projected to grow to $1.86 billion by 2023. It is very impressive considering the global CBD market was valued at $2.8 billion in 2020.
So what are the reasons behind the rapid growth of the CBD market in Canada? How did it get to be this big, to begin with? Here are some of the biggest reasons behind the power of the CBD market in Canada.
CBD As A Major Commodity
CBD, due to its healing properties, is now a major commodity in Canada. In addition, the rising acceptance and reliance on CBD products due to government approvals and applied regulations is a major factor expected to boost the production of CBD-infused products even more.
Furthermore, out of all cannabinoids, CBD is probably the most popular one now. It is widely used for therapeutic purposes due to the lack of psychoactive properties. In many medical applications, CBD is used to ease certain ailments such as stress, pain, and anxiety.
More and more people are now adopting CBD as a way to get comfort and avoid some major problems in life. As you may already know, many people in Canada are suffering from sleeping difficulties and how problematic not being able to sleep is for one’s health.
Now many manufacturers and business-minded people are jumping into the CBD train. They recommend and sell CBD products to people, and some of them even educate the public about CBD. This relation between sellers and buyers has been positive so far and has been a major factor that is driving the CBD market forward.
Plenty Of Options Available
Any product that has plenty of options for the buyers is always popular. CBD products have a ton of options that you can find in Canada. From CBD oil to edibles, from full-spectrum to CBD isolate, and various, ingredients, flavors, and so on.
There’s always something for everyone, even for the pickiest user. You can shop online, coast to coast. Shopping for CBD oil in Toronto, Ontario is simple with lots of retail stores, the same applies to all other major cities in Canada.
This is why getting into CBD is relatively easy. Beginners can freely choose which product they think is the easiest to use and get into. Take CBD gummies, for example, they are tasty, interesting, and offer plenty of options. Even something as simple as CBD oil now has many varieties available.
People who don’t like the tediousness of some products can try pills and capsules, while others who love to have more fun can try vapes or edibles. No matter what your reason is to use CBD and how you want to take it, you can select whichever product picks your interest.
Easy To Use And Fun
As mentioned above, some CBD products are very easy to use. This side of CBD may have surprised many people, who initially thought that taking cannabidiol would be a pain. Depending on the product you want, CBD can be used by placing it under the tongue, mixing it with food and drinks, vaping it, swallowing it, or applying it on the skin.
Besides, I am sure you can find many guides online on how to use CBD properly. And of course, using CBD can be fun. Take CBD vapes, for example, people used to vape for fun or to help them fight against smoking addiction.
But now since Canadians can vape CBD, now everyone can get the benefits of cannabidiol and enjoy vaping at the same time. Not to mention the fun you can get from edibles. Now, many Canadians are experimenting with various ways how to fuse cannabidiol in their food and drinks.
More High-Quality Products
The competition between manufacturers is getting spicier than a few years ago. This drives them to make the best products on the market. Of course, this benefits the consumers, who want nothing but the best for themselves. Ultimately, this competition between manufacturers will drive the prices down and the quality up.
For example, many manufacturers are now trying to actively educate their customers about CBD. You can find plenty of information on CBD on their websites. If you think about it, this makes sense, since the more knowledge you have, the more sensitive you are to high-quality products.
As you can see, there are plenty of reasons why the CBD market in Canada is thriving. Looking at the current situation, I think we can agree that the future of the CBD market is looking bright. We may be getting all kinds of new developments in the future if the situation is unchanging.
If you are interested in even more lifestyle-related articles and information from us here at Bit Rebels, then we have a lot to choose from.