Ask Our Experts: Identifying the Functionality of a CBD Product
Q: What should brands consider when selecting CBD products or compounds?
By William Sumner, Hemp Content Manager, New Frontier Data
A: While the price for CBD biomass remains low, the demand for CBD products yet grows. For brands seeking to enter the CBD space, it can be difficult to identify the secret sauce that may make their product best stand out. From tinctures to teas, there are countless ways to market and sell CBD products. According to Benjamin Witte, founder and CEO of Recess beverages, CBD brands should consider their product’s functionality first, as that is what will ultimately attract future consumers.
Speaking during a recent episode of New Frontier Data’s free webinar series (“Innovation in CBD Food & Beverage”), Witte explained that the future of the CBD market will be determined by the added value and functionality in the products which brands offer to consumers.
“What we observed very early on in Recess was that people drink Recess at all waking hours of the day, for many different reasons,” he said. “Broadly speaking, I think what’s going to happen here is there’s going to be a lot more subsegments that are formed.”
To hear more from experts discussing the CBD market, review New Frontier Data’s series, with Episode 1 here (“Risks and Opportunities in the Hemp Cannabinoid Market”) and Episode 2 here (“CBD in Food & Beverage”).