Regardless of the kind of cannabis strain you consume, most of its flavor and aromas come from terpenes. Terpenes are chemical compounds that play an important role in your endocannabinoid system, quite similar to regular cannabinoids.
Let’s discuss where this industry is headed:
The future of the terpene industry
Over the next seven years, the terpene industry is expected to grow to total revenue of $750 million. Much of this advancement has taken place in a single year. Just a year ago, the projected amount stood fixed at $510 million. Although the pandemic slowed the industry growth a bit, it managed to maintain its required pace.
According to industry experts, we can expect the terpene industry to grow at a yearly rate of 6.3%. However, this growth is region-specific. Terpene production and sales are expected to increase, particularly in Europe, South America, Asia Pacific, and Africa.
Which sectors will take the lead?
The same study suggests that by the year 2027, nearly all food and beverage industries will start using terpenes. We might even start seeing the use of terpenes in the cosmetic industry. They’ll find themselves a place in the manufacture of perfumes, lotions, creams, and makeup. There will also be a significant increase in the demand for aromatic products. Terpenes are natural compounds that lend their fragrance to a lot of manufactured products. Countries like Europe, Middle East, Europe, and Latin America are expected to be the main target markets.
Although the terpene market is highly segmented, there are two most significant segments. The two most crucial segments are solid resin terpenes and liquid. The solid terpene segment is essential to both consumers and businesses.
On the other hand, liquid terpenes are non-toxic and safe, making them a safe option for consumption too. Both of these terpenes are the main ingredients of printing inks, tapes, chewing gums, and paints.
Terpenes and the CBD industry
Terpenes have also been a game-changer for the cannabis sector. CBD brands are now incorporating botanically-derived terpenes into vaping oils, CBD topicals, CBD edibles and much more. Not only does this improve the aroma or flavor of the CBD product but also enhances the physical effects.
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