2020 kicked off with huge growth for the cannabinoid industry and it won’t be stopping anytime soon. Hemp CBD, especially, seems to be everywhere you turn, and the trend is certainly here to stay. In fact, the Nielsen forecast for the hemp-CBD industry estimates that the U.S. hemp-based CBD market could reach $2.75 billion by the end of this year. Furthermore, the coming decade has the potential to see explosive sales in the cannabis space, with hemp-CBD products becoming increasingly normalized, and infiltrating all aspects of the health and wellness consumer market from topical creams to infused beverages.
One format of CBD benefiting the most from the increased market exposure — edibles. The Nielsen forecast predicts ingestible formats growing their user base by as much as 375% in a year’s time. As opposed to other formats of CBD such as vape products, beauty products, or topicals, ingestible products are what consumers gravitate towards most frequently. Nielsen goes on to note that, over the next decade, categories of products that consumers can use habitually or as part of a daily routine will contribute significantly to the growth of CBD sales. Ultimately, these are the CBD products that will garner the highest profit due to replenishment frequency. These formats will also see technological advancements and innovative enhancements to improve a customer’s user experience.
Azuca is at the heart of this trend. Co-founded by Ron Silver, world-renowned chef of beloved NYC restaurant Bubby’s, Azuca delivers a line of chef-quality, edible products that are fast-acting and taste great every time. Ron’s frustration with the lack of delicious, effective CBD products in the market led him to develop Azuca’s range of hemp-CBD infused offerings including simple syrup, sugar, and chocolate coins. Thanks to its patent pending technology, Azuca’s products are consistent, reliable, and easy-to-use—not to mention amazingly delicious. Azuca’s product line integrates seamlessly into a daily routine or as a luxurious treat – think sugar with your morning coffee, or a pick-me-up chocolate coin in the afternoon.
Azuca stands to be a leader in the hemp-CBD market and is well positioned in the most exciting growth sector in the hemp-CBD industry — edibles that can become part of a daily routine. Created by a chef who understands the unique challenges of cooking with CBD, and designed to be effective and simple to use by both the newly canna-curious and seasoned CBD expert, Azuca creates exciting possibilities for disrupting an ever-growing market.
The Nielsen forecast concludes its 2020 predictions by stating that manufacturers and retailers can’t afford to ignore the still-nascent CBD space. While it’s true that hemp-based CBD has already revolutionized the wellness sector, it is undeniable that the full impact of CBD ingestible products is just beginning. With the market still developing, there’s huge potential for companies and retailers to keep diversifying and refining products to give customers just what they’re looking for.