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The global CBD market is rapidly expanding. In 2018, the global CBD was valued at $4.6 billion. Judging by data from the current projection, the market is expected to be valued at $24 billion by the year 2025. During this forecast period, revenues accruing to CBD marketing is also expected to expand at a compound annual growth rate (CAGR) of 22.2%. Market demand for CBD and other cannabis-derived products is expected to be driven by increasing awareness for a cannabis product, increased pro-cannabis legislation, and increased research and development investment in the pharmaceutical industry. Other factors expected to drive demand include growing demand for CBD-rich hemp biomass, growing hemp production, and increased research on innovative methods of consuming CBD.
Market analysis surveys have also revealed that, based on consumers’ preference, the different methods of presenting CBD for sale gather different revenue values. For instance, the global CBD edibles market is expected to reach $51.6 million by the end of 2027, with a compound annual growth rate of 24.30%. On the other hand, the CBD beverage market is expected to reach $11.38 million by the end of 2025, while also expanding at a CAGR of 27.4%. The value projection for each CBD presentation method is based strictly on users’ preferences. As such, the most popular methods of consuming CBD are the convention methods, including CBD topical, gummies, beverages, cigarettes, oils, tinctures, and isolates.
To achieve forecast projections and increase the global revenue of CBD products, cannabis companies have launched different research inquiries aimed at developing new methods of consuming CBD. These new methods are expected to increase the global market share of the cannabis market and, at the same time, provide cannabis users with new methods of product consumption. Beyond oil, topicals, and gummies, these new methods are not yet popular with cannabis users, even though the cannabis industry has launched different awareness campaigns for them.
New methods of consuming CBD
CBD inhalers provide an innovative method of consuming cannabis. Similar in design to the inhalers used by asthmatics and patients of respiratory diseases, CBD inhalers provide precision dosing for users. The CBD molecules are formulated into a solution and loaded into the pressurized containers using a method that ensures uniform dosing at each puff. Ordinarily, the new method of consuming CBD with metered-dose inhalers is not specifically unique. However, it provides a feasible method of administration for children and old individuals suffering from chronic and debilitating diseases. By delivering CBD through the conventional inhalation method, CBD inhalers deliver micellized cannabidiol delivered to the body system with a bioavailability range of 50-65%.
Most importantly, CBD inhalers offer a combustion-less method that guarantees safety in administration and, at the same time, avoids the risk of health complications due to smoke and residual chemical inhalation. In modern medicine, approved combinations of CBD and other cannabinoids can be delivered discreetly and precisely using CBD inhalers. In the first quarter of 2020, Impression Healthcare Limited, an Australian CBD company, finalized a deal to make CBD inhalers available in Australia under the Therapeutic Goods Administration’s Special Access Scheme.
CBD pills and capsules
Following regional regulations allowing the medical and recreational use of cannabis, CBD pills, capsules, and soft gels are becoming increasingly popular. These pills and capsules are made by filling CBD isolates, CBD oils, or CBD-based supplements into bovine gelatin capsules. Delivered orally into the body system, the CBD capsules can be formulated to evade extra-hepatic degradation and deliver CBD into the body system at an absorption rate of 6-15%. The CBD component in these capsules can also be packed with excipient components including, turmeric, cannabinoids, terpenes, and medium-chain triglycerides for flavoring or an improved activity.
CBD capsules and pills are now available in licensed retail stores and dispensaries. In the near future, global sales of CBD capsules are expected to reach tens of millions of dollars. Market projections are expected to be driven by the benefits of this mode of delivery. The benefits include discreteness and ultra-portability, easy storage, consistent dosing per unit, and user-friendliness.
CBD suppositories are arguably the least popular among the new methods of consuming CBD. These suppositories are produced by infusing a predetermined quantity of CBD into a fatty acid-base, which is hardened and designed to melt easily under low temperature and pressure. The suppositories are inserted directly into the rectum, especially in unconscious patients, or directly through the vagina. The melting suppositories deliver CBD directly into the matrix of nerves extending from the pelvic region to the spine and down to the lower limbs. CBD suppositories present the best method of administering CBD to enhance reproductive health. Using innovative delivery methods, CBD companies are currently experimenting with a nano-CBD technology that guarantees error-free dosing, enhanced absorption profile, and increased bioavailability.
CBD oral strips
Oral strips are considered the most exciting new method to consume CBD. The oral strips are made of an incredibly thin layer of water-soluble “edible paper,” which delivers infused CBD into the body system through the sublingual route. The strip dissolves instantly on contact with the saliva, and the infused CBD is discharged and absorbed directly into the sublingual artery. Just as in CBD inhalers, CBD oral strips are designed to deliver a precise CBD dose per strip. Dosing error is avoided, and the bioavailability of CBD is enhanced.
Although not a conventional practice, dabbing is becoming a popular method of consuming CBD. CBD dabbing involves the use of dab rigs or wax pens to produce highly concentrated CBD vapor steam administered by inhalation. The concentrated CBD vapor can be made directly from CBD isolate or CBD oil. Dabbing CBD is an efficient method to deliver concentrated CBD with a high bioavailability and absorption rate. However, it is important that the CBD source used in the dabbing process should be pure and contains no traces of impurities. Impure CBD sources that can deliver hazardous fumes are delivered with the CBD vapor.
Other new methods currently used in consuming CBD include CBD toothpaste, CBD-infused toothpicks, and CBD relief patches. As the global cannabis market expands, more innovative methods of administering cannabinoids are expected to be developed.