Estimates are that the CBD industry generated around $600 million in sales for 2018 and could grow to $22 billion in sales by 2022. That is an incredible 37-fold growth over four years (markets figures per report by The Brightfield Group).
This type of growth will create a wealth of job opportunities in the CBD market. Thousands of new jobs will need to be created to support hemp farming, CBD production, marketing, and other areas.
Top Job Growth Areas for the CBD Market
Industrial hemp farming is going to explode in growth in the U.S. This is great news for hard working farms, and provides an alternative crop to others that may be declining in growth. The potential 37-fold growth in CBD sales from 2018 to 2022, will create a boom for industrial hemp farmers
With hundreds of CBD brands currently on the market, and potentially thousands in four years, the industry presents a compelling opportunity for skilled marketers. CBD companies need help to position their brand in the market, grow online sales, and create a compelling social media presence.
CBD flower is a rapidly growing category. We’ve seen how fast it disappears from the shelves here in Colorado. As consumers look for new high CBD strains, there is a huge opportunity for growers to develop strains to meet the growing market needs.
Self-starters, entrepreneurs, and anyone looking to to start their own business, all have a big opportunity to enter the CBD market. CBD topicals is still an under-served market, and creative small businesses can be winners by offering unique products. CBD body oils, massage oils, beard oils, lip balms, and creams are going to explode in growth over the next four years.
Competition will be fierce as large public companies are already pouring hundreds of millions of dollars into industrial hemp & CBD investments. Small businesses will have to run savvy operations to compete and grow customers.
Industrial Engineers & Chemists
Optimization of extracting CBD for purity and potency creates a big opportunity for skilled industrial engineers and equipment makers. Extraction equipment is expensive, and helping companies to control this cost is critical to success.
Chemists for the CBD industry will be in high demand for both testing and formulating products. Third-party lab testing is critical, as customers want to ensure they are getting the product as described, with accurate levels of CBD. Formulating unique products with beneficial blends of carrier and essential oils will help grow the CBD market.
Who Will be the Winners in the CBD Industry
Our view is that transparency and quality will play a major role in who wins in the CBD market. Companies that are open about their processes, ingredients, and operate sustainable businesses will attract customers.
CBD companies that use organic and sustainable ingredients could be big winners over the next few years. Companies that validate their products for quality, purity, and potency at third party laboratories – and show they are free of herbicides, pesticides, and heavy metals, will gain consumer trust. Many have already taken this path, and it is the smartest way to go.