Are you ready to tap into the rapidly growing CBD health and wellness market? This industry, fueled by increasing consumer awareness and demand for natural health products, offers significant potential for distributors looking to explore the opportunities in a market that is already $7.6 billion and only getting started.
Understanding the Market
Cannabidiol, commonly known as CBD, is a naturally occurring compound found in the cannabis sativa plant. Unlike THC, another compound from the same plant, CBD is non-psychoactive, meaning it doesn’t produce the “high” associated with marijuana. This makes it an appealing option to traditional pharmaceuticals for those seeking relief from pain, anxiety, insomnia, and other ailments.
(It’s worth noting that cannabis, or marijuana, and hemp are different varieties of cannabis sativa. While the number of states legalizing cannabis is soaring, many of the health and wellness products are made from hemp, which has long been legally used in industrial applications.)
Cannabis has now been fully legalized or is partially legalized for specific uses in 44 of the 50 states in the U.S. As cannabis gradually loses its stigma for health and wellness, this market will continue to explode, and every one of these new products (and their associated SKUs as the market expands) requires a prime and ingredient label.
According to the market.us, the global cannabis market was valued at $7.6 billion in 2023 and is anticipated to reach approximately $36.6 billion by 2033. That’s a CAGR of whopping 17.5%.
Categories of Health and Wellness Products
CBD, whether extracted from cannabis or hemp, is used in a variety of health and wellness products, including:
- Oils and Tinctures: Liquid forms of CBD that can be ingested or applied under the tongue.
- Topicals: Creams, balms, and lotions infused with CBD used for localized relief of pain and inflammation.
- Edibles: Gummies, chocolates, and other food products containing CBD popular for their ease of use and taste.
- Capsules and Softgels: Providing a convenient way to consume a precise dosage of CBD.
- Vapes: Inhalable forms of CBD used for quick relief of symptoms.
These products are sold in bottles, tubes, and zipper packs, all of which require labels.
Targeting Larger Manufacturers
As a print distributor, you are unlikely to find substantial label volume from independent retailers. Although many of these shops may be selling their own products, the label volumes are relatively small. You may want to focus on the larger manufacturers who supply these retailers.
Here’s how to get started:
Identify key players: Research and identify the larger CBD product manufacturers. These companies produce a wide range of products and require extensive labeling services.
Attend industry trade shows: Events like the CBD Expo Tour, MJBizCon, and Natural Products Expo West are excellent opportunities to network with manufacturers and learn about their needs.
Leverage industry directories: Online directories like Hemp Industry Daily and Leafly provide comprehensive lists of CBD companies, including manufacturers.
Highlight your expertise: When approaching potential clients, emphasize your experience in producing high-quality labels. Highlight any experience you have in other regulated industries, such as pharmaceuticals or food and beverage.
Showcase your capabilities: Demonstrate your ability to provide short runs and rapid turnaround times. This is particularly important in the CBD market, where product launches and regulatory updates can be frequent.
The CBD health and wellness market presents a lucrative opportunity for print distributors looking to expand their portfolios. As this market continues to grow, so does the demand for high-quality, compliant labeling solutions that both appeal to consumers and that meet regulatory standards—and that is where a good print distributor can be a powerful ally!
