Much has been said about the CBD industry over the last 3 years, as the market has exploded the willingness of major retailers to take on CBD product is starting to ramp up, and the right brand and manufacturing combination could find themselves in with a very realistic shot at becoming a household name in CBD over the next 3-5 years.
Has the ship sailed when it comes to new brands launching into the CBD space?
We certainly don’t believe so, demand has increased exponentially in the UK alone, CBD sales rose by an estimated 22% between 2018 and 2019 with a similar trajectory set for the next 4 years.
Launching a CBD brand into the marketplace amidst economic uncertainty brought about by recent impacts of COVID-19 might seem like a risky manoeuvre as it might with any business, but with general soaring demand and the positive responses seen from CBD products in relation to areas around anxiety (around 6.6% of the UK population suffer with anxiety – Source: Nopanic.org.uk) CBD products have cemented themselves as a benefit for many in these unsettling times and that’s not set to change.
Creating a unique brand within the CBD space is more feasible than ever before. There are simply more options for your CBD start up than we had access to 3 years ago, new product creations have a foothold in the market, more manufacturers are adding CBD products to their core ranges and a start up brand can really benefit from the multiple sources of ideas and creative suggestions to push their brand down a very specific pathway.
If you want a CBD drinks specialist brand, that’s perfectly achievable. Maybe you wanted a CBD sweets or confectionery focused brand, you have dozens of interesting options to choose from now. The innovation levels have gone off the charts. (sometimes a little too far off the charts, CBD Toilet Paper being a rather extravagant example of CBD products gone mad). But the take home is simple, there’s vastly more choice and creative freedom within the world of CBD compared to what we had 3-5 years ago when you’d have been lucky to get a flavoured oil let alone a range of chocolate confectionery laced with cannabinoids.
Businesses are more in tune with the needs of the outgoing retail brands and the end consumer. Over time, the industry has learned a lot more about the typical consumer and how different groups of people respond to different brands. The guidance on offer from the B2B providers such as Apex White Label is vastly more in depth than ever before. Useful consumer insights, historic data to evaluate and much greater volume of direct market feedback has allowed us to form a clearer picture of what works and what doesn’t.
We feel that brands with a clear purpose, direction and differentiating proposition can easily find themselves a market niche and develop a substantial business in the CBD world. It takes the right combination of drive and determination alongside great marketing and a production partner you can rely upon to produce excellent products time and time again.
If you’re looking for more information and guidance about setting up your own white label CBD business, get in touch with us via the contact form below and we can talk you through all of the elements a new start business can encounter when entering the CBD marketplace. Making sure you can spring board your business from it’s launch.
We offer a free consultation call to discover more about your businesses ambitions and product ideas, find out more by filling out the contact form below.