Unless you’ve been living under a rock, you must know a few things about cannabidiol. Or, if you’ve had a chronic pain condition, there’s a high likelihood that someone you know has even recommended cannabidiol for you.
Cannabidiol (CBD) is one of the many compounds extracted from the cannabis plant, which researchers believe can potentially help with various conditions. CBD contains anti-inflammatory, antioxidant, analgesic, and anti-anxiety properties that may make it useful for those experiencing a wide range of diseases.
Cannabidiol may help with conditions that are symptomized by pain, anxiety, inflammation, or seizures. It differs fundamentally from another popular cannabis extract known as tetrahydrocannabinol (THC). THC delivers the famous (or infamous) euphoria and comes with some intoxicating effects. On the other hand, CBD is neither psychoactive nor intoxicating.
It’s due to the fact that CBD doesn’t alter the user’s state of mind that it has gained immense popularity as a therapeutic cannabis extract. If you’re considering investing in the CBD industry, now is the time. Not only is the industry currently booming but experts forecast it will remain bullish moving into the future.
In this article, we’ll go over some of the top reasons why the CBD industry is booming.
What Do Statistics Say About CBD?
According to the Grand View Research, the global legal marijuana market is expected to hit USD $73.6 billion by 2027. This tremendous growth will mostly be influenced by the increasing legalization of cannabis for both medical and recreational use. The ever-growing body of research findings pointing to the therapeutic properties of cannabis will also fuel the popularity of the herb among medical users, further spurring the growth.
Most opponents of cannabis have always had an issue with the plant’s psychoactive properties. According to recent research, cannabis is gaining more popularity for its medicinal uses as opposed to its recreational benefits. In 2019, medical marijuana accounted for 71% of all revenue with recreational marijuana claiming a paltry 29%.
(*NOTE: These research studies used the names “marijuana” and “cannabis” interchangeably.)
Now, as already mentioned, many the therapeutic properties of cannabis tie back to CBD and its benefits. Therefore, CBD is essentially the reason behind the rise of revenue regarding cannabis as a medicinal herb.
1. More Therapeutic Uses
Cannabidiol was first recognized for its potential analgesic properties. Therefore, it doesn’t come as a surprise that most of the earlier studies were focused on investigating its pain-relieving effects.
However, CBD has since proven to potentially be useful for more than just relieving pain. It may also help treat various kinds of anxiety disorders, including panic disorder, obsessive-compulsive disorder, social anxiety disorder, post-traumatic stress disorder, and generalized anxiety disorder.
The substance may also manage inflammatory conditions, such as Inflammatory Bowel Syndrome, contact dermatitis, and acne. People battling with neurological conditions may also benefit from the therapeutic effects of cannabidiol.
Cannabidiol’s immense therapeutic benefits haven’t gone without notice. The U.S Food and Drug Administration (FDA) has approved Epidiolex, a CBD-based drug used to treat two debilitating forms of epilepsy. These include Dravet Syndrome and Lennox-Gastaut syndrome.
With so many conditions that it may treat, more patients are now turning to cannabidiol. This directly translates into a high demand for the substance as more suppliers are setting up shop to start supplying the CBD products.
2. Increasing Legalization
As most research findings hail CBD for its potentially powerful medicinal effects, regulators around the world are responding by relaxing their punitive measures on the cultivation, distribution, and sale of cannabis products.
A recent notable development is the passage of the 2018 Farm Bill. This milestone made it legal to distribute and acquire cannabis products in all 50 states, provided those products contain a maximum of 0.3 percent THC concentration.
These trends also reflect favorably on CBD’s demand as more people can now legally acquire the substance.
3. Different Ways to Consume CBD
The term “cannabis” commonly conjures up images of an person with a rolled joint in their mouth. Since smoking was primarily associated with recreational drug use, some people shied away from trying cannabis.
However, times have since changed and there are numerous healthier ways to consume cannabis products like CBD. You can drip CBD tinctures beneath your tongue, apply CBD-enriched topicals, swallow CBD softgels, or consume CBD chocolates or other edibles. Before buying, make sure you check for information about which strains may alleviate symptoms at a faster speed.
With several methods of consumption, more users are readily drawn to CBD.
4. More Industries are Incorporating CBD into its Products
CBD began as a health and wellness supplement as the extract may be effective in relieving and managing various chronic conditions. However, specialist dispensaries and marijuana shops are no longer the only places you’ll currently find CBD.
Various other industries have since integrated CBD into their products. In the food and beverage industry, CBD is used in baked goods and homemade recipes, as well as added to teas, coffee, smoothies, and wines.
What’s more, many businesses in the beauty and skincare industries manufacture various CBD-infused gels and ointments, while athletes can optimize their workouts using CBD-enriched supplements. Even the pet care industry hasn’t been left behind. Pet owners can now offer cannabidiol to their furry friends to potentially help manage certain conditions like separation anxiety.
5. CBD Is All Natural
You’re probably already familiar with the saying “Natural doesn’t necessarily mean safe.” However, when it comes to CBD, it can help vouched for its benefits. CBD doesn’t have an ideal dose. It doesn’t present risks of addiction and dependency. Experts generally advise users to begin with low doses and work their way up slowly until they reach the “sweet spot.”
Also, the substance generally doesn’t come with side effects. Even when CBD side effects do occur, they are usually mild and short-lasting.
Evidently, there are numerous reasons behind the boom in the CBD industry. If you’ve always considered venturing into this lucrative market, now may be the time to take the plunge