Why the CBD Market Is Likely to Boom for Many Years
Chances are you’ve heard about CBD, but you may not know exactly what it is, where it came from or why people are so excited about it all over the world. Major skin care and makeup brands like Kiehl’s and Josie Maran are infusing it into products. Meanwhile different CBD-infused food and beverage brands like Recess and Two Roots Brewing Co. seem to pop up every day. Now, you can even buy CBD products for your pets to help with their anxiety, pain and stress.
So, what exactly is CBD and why should you care about it?
Cannabidiol (CBD) is one of at least 100 phytocannabinoids found in cannabis plants, which more commonly referred to as cannabis or marijuana when high in THC, the psychoactive component of cannabis, and hemp when it is high in CBD, which does not exhibit any psychoactive properties, with only traces of CBD. The recreational cannabis segment has driven the rapid growth of the cannabis industry to date.
Numerous other studies have clearly demonstrated the safety of CBD. A recent report from the World Health Organization states “CBD exhibits no effects indicative of any abuse or dependence potential.” In other words, addiction and other abuse issues are not associated with CBD.
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CBD will be important for the next two to three decades.
Since 1992, when the Endocannabinoid System (ECS) was discovered, many different studies have been conducted on the role it plays in our health and disease management. Since we all possess an ECS, it makes logical sense that we would all benefit in some way with the inclusion of CBD and other cannabinoids in our daily lives.
This research coupled with the spreading legalization of recreational and medical cannabis is why CBD has become mainstream. The increasing worldwide access to CBD products is dispeling many of the myths around it. People who are new to cannabis are recognizing its benefits. The continued growth of the cannabis industry will rely on educating people who are unfamiliar or wary about the plant.
Additionally, the 2018 Farm Bill legalized hemp farming, removing this plant rich in CBD from the Controlled Substance Act and restoring it to its traditional place as an agricultural commodity. This bill will allow states to regulate hemp farming and move forward the industrialization of the hemp plant. As this scales up hemp-based CBD products will become ever more common. The hemp-CBD market is projected to grow from just under $600MM in 2018 to $22BB by 2022.
The long list of what exactly CBD and CBD-infused products can help with.
There is an ever growing number of conditions for which CBD and other cannabinoids are being researched. Diseases for which there is evidence of it has therapeutic benefits includes MS, arthritis, anxiety, inflammatory conditions and intestinal bowel disorders. CBD may be a beneficial addition to any healthy day-to-day routine to help with anti-aging, redness, breakouts, skin allergies, rosacea, eczema and psoriasis.
It primarily acts as a therapeutic agent in your endocannabinoid system, constantly working to get your body into a place of homeostasis. In other words, it helps the body maintain, or recover, a condition of balance or equilibrium within its internal environment, even when stressed. Depending on the type of CBD you consume, you may feel something different. For example, if you are targeting a specific area of your body with a spray or cream, only that area will be affected. Conversely, if you ingest CBD, it is typically described as a relief or relaxation that is felt across the entire body.
Getting into the growing CBD market.
The allure of a growing market has many entrepreneurs wondering how they can get involved in the cannabis industry. When thinking about launching a CBD company or creating a CBD product, it is important to remember what kind of CBD product you’re trying to make, whom you’re targeting and what the regulations are in your state.
If you’re new to CBD, connect with knowledgeable people in the cannabis industry and learn as much from them as possible. Your goal is to create potent, high-quality products that people will trust and buy. Though the legal CBD space is relatively new, it is already crowded. Only the highest quality, most loved products will survive.