Are you ready for the next Gold Rush in the $22 Billion CBD Business?
We have seen an explosion in food products made with CBD oil, a non-psychoactive derivative of the cannabis plant. Advocates say it can remedy everything from pain relief to insomnia.
Considering that CBD didn’t exist as a product category five years ago, the competition is heating up at a rapid pace, with hundreds of CBD companies offering thousands of products.
The biggest challenge in the short-term for CBD businesses is going to be oversaturation and stiff competition. Those who succeed will need a savvy Senior Executive team who know how to take a product to market in a highly competitive environment. Things like marketing, and smart branding, will be vitally important as companies will need to start differentiating themselves from their competitors. Finding success in the ultra-competitive CBD industry may well come down to who has the best executive team in place. And the competition for these executives will be fierce. You will need to work with an industry expert.
CEO Search Partners, who specializes in retained executive search in food or CPG we can bring you an executive who knows how to innovate and is experienced at taking new products to market.
From the changing regulatory landscape to the rapidly-evolving consumer understanding and tastes, the CBD industry isn’t going to be getting easier for small businesses in the near future.
Unlike a normal consumer goods company, products that incorporate CBD will be under special scrutiny from regulators.
If you are looking for an industry specialist to assist you with finding the right senior leadership to lead your CBD food business let us set up a call at (773) 294-6431 to further discuss our approach.