HIGH POINT — The emerging market for CBD products offers major growth opportunities in the home furnishings industry, members of a CBD panel said during Furniture Today’s Bedding Conference.
The panelists, each of whom is introducing CBD products to the home furnishings marketplace,
see the CBD category growing substantially in the years ahead.
Scott Carr, Malouf’s marketing director, said interest in CBD is on the upswing.
There are 6.4 million online searches for “CBD” or “cannabidiol” per month, and the U.S. market for CBD products is projected to hit $20 billion by 2024. The global cannibas market is projected to be more than $40 billion by 2024, he said.
Malouf sees strong growth opportunities in the segment, which it entered earlier this year with a CBD pillow, offered with three options.
He said that 20% of Americans already say they use CBD products for benefits that include managing pain, relaxation, stress relief, anxiety relief and help in falling asleep.
Susan Mathes, vice president of brand relations for Therapedic, the first Top 10 bedding producer to offer a CBD mattress line, also sees a major upside for the segment.
“Scientific studies show CBD benefits a number of conditions including pain, anxiety and sleep disorders,” she said. “CBD products are gaining significant market share in all forms due to its benefits related to well-being.”
Mathes also said the category is a natural for bedding. “With CBD being known to help with restlessness, calming and insomnia,” she said, “how could it not be good to put in a mattress?”
Therapedic’s b-calm mattress line features CBD infused in the quilt fabric and in a layer of graphite latex. It is available flat-packed or roll-packed, and offers several strong talking points for retail sales associates, she said.
Mathes has a family tie to the CBD field: Her husband, Barry, is involved in the manufacture of personal care CBD products for consumer products customers, and his work gave her insight into the field.
Also participating in the panel discussion was Shane Mutter, CEO of Seed2System, a CBD supplier based in Colorado.
“We start with premium seeds and we farm using organic practices,” he said. “Our vertical supply chain yields consistent results with sustainable and scalable growth.”
He said Seed2System boasts a full line of CBD products, including tinctures, topical salves, edible salves, and gummies and honey sticks, with products for the bath, body and men’s categories.
Mutter said CBD’s appeal is broad, noting that youths, adults and seniors all benefit from CBD products.
Consumers turn to CBD products for a variety of reasons, including treatment of chronic pain, arthritis and joint pain, anxiety, insomnia or another sleep disorder, depression, PTSD, migraine headaches and nausea, among other reasons, he said.
Prior to his time in the hemp industry, Mutter was president and CEO of his family’s 80-plus-year-old home furnishings business on the outskirts of the French Quarter of New Orleans, Doerr Furniture.
Missed the Bedding Conference? You can still register to watch the sessions at beddingcon.pbmconferences.com