The gummy vitamin market has continued to grow in popularity–gummy forms of vitamins are projected to have a compound annual growth rate of about six percent over the next ten years. So when CBD started being introduced to the market in gummy form in 2015, the market quickly exploded.
Seventeen states have legalized CBD, paving the way for CBD gummy companies to move offline and begin selling their products in retail stores. In eight of these states, the drugstore chain CVS plans to expand CBD products into 800 of its retail locations, making it easier than ever for casual consumers to find and purchase CBD products.
Studies show massive growth rates in the CBD gummy market– in the first four months of 2019, California alone saw a 200% growth rate, followed closely by 98% in Colorado, and 61% in Oregon. 2019 infused edible market sales are projected to be 4.1 billion dollars, compared to the 1.9 billion the industry made in 2018.
But how did this market grow so quickly? Michael Gonzalez, the CEO of Happy Tea, a CBD tea company, used influencer marketing to promote his products, a plan that he already knew worked from his earlier successes using celebrities to promote Fit Tea, his weight loss and detox tea company. To popularize Happy Tea, he partnered with Kylie Jenner, who is followed by 153 million people–and finished his first round of fundraising at six million–with plans to raise another six million before taking the company public in January 2020.
Influencer marketing continues to be a strong tool in CBD marketing–with the ability to tell stories on a personal level within various market sectors. It also can prove to have a massive reach: 3.04 billion users are active on social media and people spend 135 minutes a day using their social media accounts.
Partnering with the right influencers is key to creating a successful marketing campaign. But not every partnership has to be with an account over a million followers. CBD companies can start small by capitalizing on the rise of micro-influencers, or influencers with a following of less than 100,000 people. By speaking directly to their followers, influencers build personal trust with potential consumers. By showing your customers a real person that’s behind your brand, you can spur past the ad-blockers most people have and get directly into your consumer’s newsfeed.
By choosing the right influencer, CBD companies can break into multiple segments in social media. Popular CBD influencers range from fitness experts, beauty gurus, comedians, doctors, and celebrities who have found relief from both physical and mental health symptoms by using various forms of cannabidiol.
Not sure what kind of influencer is right for your brand? Partner with us today and start finding solutions.
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