For the past few years, there’s been an intense influx of CBD products coming onto the market – from pillows to makeup, from workout wear to toilet paper! It’s no surprise that this is happening, because product developers recognize that CBD is becoming more mainstream in the consumers’ eyes and its versatility. Having a diverse range of products is driven by consumer demand – and product developers are finding creative ways to meet consumer needs.
The three product categories in the CBD space that we see growing rapidly are: On-The-Go Products, Pet Products, and Health and Wellness products. As product developers know, innovating new products and differentiating yourself from the competition isn’t easy. That said, with the right idea and the right strategic partners such as SōRSE, the process of developing a new product and going to market can be exciting and rewarding. This is especially true when you meet consumer needs that another company has yet to fulfill.
CATEGORY #1: ON–THE–GO PRODUCTS
Many of today’s consumers are looking for portable, convenient, and eco-friendly ways to get their CBD fix. Stick-packs, sachets and tea bags are a great delivery system for CBD because the formats are widely accepted by consumers already; plus, they are easily accessible and convenient, and they don’t take up a lot of space in a pantry. There are also benefits to creating these products for developers; first, their shelf lives are longer, which makes quality control easier to manage. Second, because on–the–go products are space-efficient, they are cheaper to ship, which is important in a time when most businesses are relying on ecommerce for their sales.
When it comes to adding CBD to an on–the-go product, particle size of the CBD matters. SõRSE recommends using agglomerated powder to our partners because it absorbs quickly and disperses evenly which means there is no clumping. All of this makes it easy for product developers to seamlessly integrate the powder into their formulations. In terms of flavor, the sensory impact of the agglomerated powder is minimal – because the bottom line is that products need to taste good for consumers to buy them and become a repeat customer.
CATEGORY #2: PET PRODUCTS
According to a 2019-2020 survey conducted by the American Pet Products Association, a staggering 67% percent of U.S. households – about 85 million families –own a pet. A product that is becoming popular that animal lovers are buying for their companion animals – CBD. The pet CBD market alone is expected to grow by 54% from $64M in 2018 to $810M in 2024. Why are pet owners purchasing CBD products for their pets? Many are looking for a more natural alternative for their animal’s health issues, such as anxiety, pain and stiffness, seizures, and poor appetite. Most CBD pet products are oil-based and come in the following formats – tinctures, powders, and gels – but CBD is also finding its way into treats, powders that can be mixed into food and broths/liquids that can be poured over kibble.
For the product developer looking to create a product that will yield lots of wags and purrs, SõRSE is a water-soluble technology that animal enthusiasts can trust. Our emulsions offer increased bioavailability for fast–acting onset and consistent effect, ensure accurate dosing, utilize safe and all-natural ingredients, and are allergen-free. It’s also important to know that pet products utilizing water-soluble CBD or hemp are easier for pets to digest than oil-based products because of the way the digestive systems process fats. If product developers want all the animals out there to reap the benefits hemp has to offer, choosing a water-soluble emulsion is the way to go.
CATEGORY #3: HEALTH AND WELLNESS PRODUCTS
This year, people have become more focused on their health and well-being. This is certainly reflected in purchasing trends; since March, consumers have been investing in home workout equipment, and stocking up on vitamins and supplements. What else have consumers been purchasing? CBD. In 2019, the global CBD consumer health market size was valued at $20.3B and is expected to grow at a compound annual growth rate (CAGR) of 25.6% from 2020 to 2027. This growth is driven by consumer demand and awareness surrounding perceived health benefits of CBD as well as a desire for products with healthier, sustainable ingredients and functional ingredients. Consumers are increasingly searching out products that are plant-derived, non-GMO, all-natural, and organic, as well as ones that are convenient and enjoyable to consume.
Health and wellness products featuring CBD that are on the rise for the coming year are: Functional beverages in the form of wellness shots and performance-enhancing drinks; Cosmetics in the form of skincare and hair products; Nutraceuticals in the form of capsules, soft gels and supplements; and oral care in the form of mouthwash and toothpastes. It’s important to note for product developers that the FDA regulates CBD in cosmetics differently than it does in food and beverages items. When it comes to adding CBD to health and wellness products, the possibilities are endless; the key is predicting what product the consumer wants most.
SōRSE – Your Strategic Partner for Your Next Great Product
When it comes to developing CBD emulsions for products, SõRSE takes a clean label approach, which means that the emulsions’ attributes meet the demands of the health and wellness sector. The emulsions are made with safe, natural ingredients with no additives included such as sugar or masking agents. Consumer safety is SõRSE highest priority, which is why we put an emphasis on quality testing and quality assurance and transparency with our partners. We collaborate with product developers through each phase of the process – from ideation to formulation to go-to-market, providing operations support and connections to our network of vetted co-packers and other manufacturing partners. Come to the SõRSE with your idea, and let’s work together to move the industry forward with more infused products in 2021.
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