Online CBD marketplace Arrive Market has released a set of predictions for the top trends and product formats driving the CBD industry in 2021, based upon consumer data collected via the site.
This year’s forecast by Arrive Market was developed through an investigative approach into the shift of consumer behaviours from the past several years, and most notably, how the COVID-19 pandemic has impacted those behaviours even further. The trends dive into new products and formats, as well as new ingredient integration. With CBD gaining more awareness and popularity for its anti-inflammatory properties, new variations of traditional CBD uses are expected to drive innovation in the year ahead.
The top trends and product formats the CBD industry can expect to see in 2021 are:
According to a report from Mintel in Jan. 2020, the trend of at-home beauty and self-care routines had been rising pre-pandemic as consumers take a more holistic and routine approach to their well-being, but has further escalated throughout COVID-19. With many salons and spas closed, consumers are turning to treatments and solutions that can be done at home. The trend is likely to continue with products that help to bring the spa experience home.
Transdermals, or topical patches, are an easy-to-use format that allows for complete control, making it an approachable, simple entry point for new CBD users. Products like ‘The Good Patch’ offer a discreet state-of-the-art patch that works steadily and consistently over an 8-12 hour period to help increase energy, soothe aches and pains, support hangover or hot flash symptoms and more.
CBG has been dubbed the “Rolls Royce” of cannabinoids for its physical and emotional soothing properties. While it shares the well-known anti-inflammatory and pain-modulating properties as CBD, the unique pull of CBG is its believed fast-acting effects on anxiety. According to a KFF Tracking Poll, research has found that four in ten adults age 18 and older (40%) were reporting symptoms of anxiety or depression due to the pandemic. Younger adults were significantly more likely than older adults to report anxiety or depression. The effect of the coronavirus pandemic on mental health is expected to continue playing an important role in consumers’ purchasing patterns.
CBD is believed to help relieve symptoms of a number of conditions including feelings of anxiousness, pain and inflammation, but CBD is now being used by consumers to help ease common PMS discomfort including bloating, fatigue, cramps and mood swings.
As consumers continue to seek out holistic and proactive ways to manage their mental health and brain function, the CBD industry can expect to see a rise in combining CBD with nootropics and adaptogens for full cognitive benefits. Research has shown that herbal nootropics, adaptogens and nervines can potentially enhance cognition and brain function.
As self-care became a top priority in 2020, so did the rise in online shopping for daily needs. According to Nielsen, the number of shoppers who consider themselves to exclusively shop online for everyday items was up 133% between Sept. 2019 and Sept. 2020. That trend isn’t slowing anytime soon. eMarketer projects that retail ecommerce sales in the United States will grow to $843.15 billion in 2021, up from $794.5 billion in 2020.
“The COVID-19 pandemic drastically increased the importance and emphasis on self-care for consumers, who are embracing new products and ingredients in the CBD market,” said Greg Willsey, founder of Arrive Market.
“We are optimistic about the continued growth of ecommerce in 2021 and the ability to reach new customers who are looking for high-quality CBD products proven to make a positive difference on overall health and well-being.”
Source | Arrive Market