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CBD (or cannabidiol) has taken the world by storm. In the United States, sales reached $4.6 billion in 2020. This impressive figure is only two years after the federal legalization of hemp-derived cannabisoids, which was made possible by 2018’s Farm Bill. Marketers predict that growth will accelerate with two noteworthy forecasts predicting a U.S. market worth $15 billion to $20 billion by 2025, and 2024.
It’s a growing market with many challenges. The biggest problem in the CBD industry is a lack of consumer education and poorly-made or mass-produced goods. This results in dangerous or ineffective products being sold all across the country. In an effort to convince customers that their product is worth the effort, companies claim they have invested in production, sourcing and other areas of procurement. The end result is often the same: many identical CBD products are on the market with different labels. While some CBD products are low quality, others are good quality and just as undifferentiated as their competitors.
Dale Hewett is the CEO and founder at New Phase Blends. He first became interested in CBD because of his health. He then created a CBD and melatonin formula that he patents. Hewett discusses why consumer education is so important and what it takes for a CBD brand to stand out in a competitive market.
JB: How did your CBD company become a success?
DH: I was an Army officer on active duty and sustained a spinal cord injury which ultimately resulted in my retirement from the military. I found that CBD had amazing results in controlling my nerve problems without any of the side effects associated to other medications. I was able to use CBD in different amounts and have had great success.
Combining the two substances together allowed me to take less and get better sleep than melatonin or standalone CBD. This realization led me to file a U.S. Patent Application for the use of CBD and melatonin as a sleep aid. This formulation is currently patent-pending.
JB: What makes New Phase blends stand out in an extremely crowded CBD market like this?
DH: New Phase Blends is a CBD business like none other. Our mixtures of CBD and other well-studied compounds are based on scientific research.
It is simply a better product that lasts longer, and it is more therapeutically effective. The CBD industry was at a crossroads. Everyone was selling the exact same product, with a different label. I was aware of this and wanted to make something better.
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This unique combination of CBD and melatonin would eventually take the form of the patent-pending New Phase Blends product “Sleep.” It is our flagship product and can be found in both tincture form and gummy form. The reviews speak for themselves.
JB: What else do New Phase Blends make, besides “Sleep”?
DH: New Phase Blends does not only sell CBD blends with other compounds. We offer a high-quality product called “Pure”, which includes either full spectrum or broad spectrum oils, capsules, and gummies.
Our website is also very well-designed. New Phase Blends is home to one of the most comprehensive e-commerce websites on CBD. Our site covers everything, from history and legislation news to instructional topics. If you are looking for information about CBD education, you can find it here. This is why we consider this an important aspect of our work. There is so much misinformation about CBD these days that it blows my mind.
JB: Why are so many consumer education efforts necessary? How do Americans perceive CBD products today? Can they trust the retailers?