Creative applications of CBD infusions are popping up all over the restaurnt industery. According to the “What’s Hot Culinary Forecast”, over 75% of surveyed chefs agree, CBD infused drinks are the No.1 trend in 2019. And only one percent less of them also agree that CBD infused food is the No.2 trend in 2019. CBD is proving to be all the rage right now, and the CBD market is expected to be $20 billion large by 2024. The cannabis derivative “cure all” is in high demand, but if you want to get in on the action there is a lot you must know.
What is CBD and Why is it so Popular?
CBD, or cannabidiol, is a fully legal compound extracted from the marijuana or hemp plants. It is known for its broad spectrum of medicinal and personal uses, but it is not psychoactive. So CBD offers all the medicinal and other benefits of marijuana but without the high:
- CBD oil may help fight pain. Studies have shown that CBD is a promising alternative treatment for the pain associated with a number of conditions: migraines, Multiple Sclerosis, muscle spasms, arthritis, lupus, digestive problems, cancers, and much more.
- CBD oil may help with depression. CBD has been found to increase the levels of happy-feel hormones such as serotonin. These biochemicals promote calmness and deactivate the compounds responsible for sadness, hopelessness and other symptoms of depression.
- CBD oil may help with cancer pain relief. CBD has shown great potential for alleviating pain related to cancer and cancer treatments, for example: chemotherapy.
Research is showing that CBD is a potential treatment for numerous cognitive diseases and has just been approved by the FDA as a first of its kind treatment for epilepsy.
CBD infusions are a booming market, and with proper execution you can definitely capitalize big on what is turning into an explosive trend. But before you do, let’s look at some of the challenges you will face:
- People are still confused about CBD and its association with marijuana, so there is still a stigma surrounding the non-psychoactive legal compound.
- CBD laws are confusing and complicated in nature.
- The market is unregulated and becoming saturated.
People are becoming more educated on CBD, so that problem is diminishing with time. But, if you are going to serve the compound infusions it probably wouldn’t hurt to have some literature on the subject in your restaurant.
CBD laws and FDA involvement make entering the market a little risky. So being up on the latest legal industry news is going to be necessary, and being more conservative with investments of resources should definitely be considered.
The CBD market is getting saturated so if you want to be successful you need to stand out. The best way to do this is to find a niche within the CBD market that best fits you and your business and then specialize. The more specialized your infusions get the more effectively you can market them.
The CBD market is seeing explosive movement, and with increasing demand it can make a fine addition to your restaurant. Just be sure to be well-read, very specific with your execution and target marketing, and always prepared to lose the “cure all” compound at any moment.