Yesterday, Martha Stewart announced the launch of her CBD product line that features oils, gummies, and soft gels for consumption. And she is not the first celebrity to venture into the CBD industry: Whoopi Goldberg, Ron Gronkowski, and Mike Tyson have all supported or opened CBD businesses of their own.
As the industry grows, we start to wonder if the market has become too saturated. According to a study by Statista conducted in 2019, “about 14% of Americans had tried CBD (cannabidiol) products by mid-year 2019”, while a significant percentage had at least heard of CBD. This bodes well for the industry; interest in CBD rises, production increases, profit proliferates, and the market expands. But when the market expands, it becomes harder to separate products of superior quality from products that are manufactured to prioritize profit over excellence.
CNN reports that according to the Brightfield Group, “a consumer research firm specializing in cannabis”, they anticipate $4.75 billion in CBD sales this year. Financial News Media projects that CBD sales could surpass $20 billion by 2024. These are incredible feats considering the FDA’s close regulations on CBD production and incremental changes in the cultural perception of cannabidiol products. The opportunities for growth are exciting and Botanical Solutions has been prepared to take on the expansion of the industry and the competition that will develop out of its growth. That’s why we’ve set a standard of work that will stand through fluctuations in the market, the introduction of larger cannabidiol brands, and the eventual questions about what makes a superior quality CBD product.
Here’s what we know: in order to produce a superior product of any kind, you must have experts and innovators involved in the manufacturing process. We also know that in order to be competitive in a crowded market, a business must have a diversity of experience on its team to think outside the box and into the future. And lastly, we know that building lasting relationships with clients, partners, and industry professionals are key to the business’s sustainability. Botanical Solutions checks all of those boxes. We have set ourselves apart from other processors by fulfilling all of the needs mentioned above, enhanced by dedicated sales and marketing teams as well as an unwavering commitment to offering the best customer service of any processing company. These qualities are evergreen and will support the success of Botanical Solutions coupled with our innovations in technology, agriculture, and chemistry.
Look, for example, at our THC Remediation technology: Sonic Resonance Extraction. It’s a departure from chromatography, our industry’s best-known and popularly used extraction method. Sonic Resonance Extraction is a solvent-free process that elevates the quality of the product by preventing any interaction with toxic particles and reducing volumetric and CBD loss. This process also preserves minor cannabinoids. Look, again, at our Client Portal, a private and secure tracking window for our clients who want to follow the production of their products from start to finish. We’re doing the work to lead this industry with experience, expertise, and integrity.
So, we welcome Martha Stewart and all of our other colleagues in the cannabidiol and processing industries. The market may be crowded, but we’re a standout.