These days, CBD has become a household term. Not sleeping well at night? Want better skin? Looking for a natural way to ease stress and anxiety? CBD could be just the product you need to add to your daily routine. And while the product’s laundry list of benefits may make it seem like nothing more than snake oil, scientific studies and consumers prove otherwise.
With the passage of the 2018 Farm Bill, which legalized industrial hemp at the federal level, the CBD industry has exploded. Availability and popularity of these products has continued to grow over the last few years.
In fact, depending on where you live, you can easily find CBD products at your local gas station, CVS, and even in some pet stores. While all of the hype surrounding CBD may have minimized a little, the fact remains that the industry is still booming.
What is CBD?
CBD, also known as cannabidiol, is a compound that naturally occurs in the cannabis and hemp plants, along with more than 100 other cannabinoids. CBD is extracted from the plant, processed, and then added into all sorts of products. CBD can be purchased in many different forms:
- Edibles
- Capsules
- Oil
- Topical products
- Makeup
CBD works by interacting with the body’s endocannabinoid system. The endocannabinoids, work similarly to neurotransmitters in that they send messages throughout the body to maintain homeostatis. CBD mainly interacts with the CB1 and CB2 receptors, which are found in the brain and other areas of the body.
Is CBD Legal?
Per the 2018 Farm Bill, only CBD extracted from hemp is legal in the United States. This is because the plant contains a very low concentration of THC, the cannabinoid known for its psychoactive effects that make users feel “high.”
Legal CBD products in the U.S. must also contain less than 0.3% THC, which is why hemp-derived CBD is most common. The cannabis plant has a much higher THC concentration, so hemp is naturally the better plant to use.
Though CBD has been legalized for a few years now, the CBD industry has very little oversight and regulation. This means that consumers need to be extremely mindful when buying CBD products.
Before purchasing CBD, consumers should thoroughly research their options. There’s no shortage of CBD products, but not all products are worth buying. Only high quality, legitimate products will actually deliver the expected results.
To ensure you’re buying a worthwhile product, do some research before-hand. Check out reviews on trusted websites, such as CBDStudy and CBDGrade and so that you can learn about a brand and its products.
Why is it Every Where?
The passage of the 2018 Farm Bill had a huge impact on the supply and demand of CBD, giving the industry a huge boost. The fact is that today’s consumer is mindful. People are looking for all-natural alternatives to treat everyday problems. And CBD offers just that.
As stated earlier, CBD won’t make you feel high or altered in any way. This is a huge benefit for people who want the therapeutic benefits of cannabinoids without the risk of psychoactive effects or failing a drug test.
Instead of mind-altering affects, CBD instead offers all sorts of therapeutic benefits, including
- Lowered stress and anxiety
- Pain relief
- Improved skin health
- Better sleep
- Neuroprotective properties
While there is still much research to be done to learn about the effects of CBD and how it can benefit humans, existing studies show very promising results.
Projections for 2020 & Beyond
These days, CBD may not be in every other headline you read, but the industry is still booming. According to one study, it’s projected that by 2023, the industry will have more than $23 billion in sales.
Here’s what you can expect in the CBD industry in 2020 and beyond.
Lower Prices
When CBD first gained popularity, one of the biggest drawbacks was the price. In 2014, one mg of CBD oil was as high as $1.25, which could get expensive pretty fast. This pricetag was higher than many could afford. Thankfully, since demand has increased over the years, the cost of CBD oil has sharply decreased. We can continue to expect the price of CBD to continue to decline.
Brand Transparency
Another roadblock that the CBD industry has overcome is transparency. Even in 2020, the CBD industry is still under-regulated. Many companies have been caught misrepresenting their products, which decreases consumer trust. The lack of regulation has also kept many medical professionals from recommending CBD oil to patients.
Thankfully, in recent years, consumers have demanded that CBD companies be more honest in what their products contain. Brands have realized the importance of transparency, and have had their products third party tested. With a certification of analysis (COA), consumers can see exactly what a product contains before buying it.
Legalization around the Globe
In previous years, CBD legalese was muddy, to say the least. There weren’t many laws that stated whether or not CBD products were legal or not, even in the U.S. This is mostly because laws didn’t differentiate between CBD and marijuana.
While there are still some legal gray areas, a growing number of countries have legalized CBD products. There are only a few countries in the world that outright ban them. Most countries allow CBD products, as long as they contain a certain percentage of THC.
CBD legalization also boosts the supply and demand chain. International legalization of CBD allows CBD manufacturers to ship their products internationally, which boosts sales across the globe.
Conclusion
CBD is still one of the hottest products on the market, with the expectation that even more items will soon be available. What once started as a market of just CBD oil has turned into edible options, topical products, and so much more.
As innovative products are made available, and studies continue to be done to determine the benefits of CBD, we can expect for the CBD hype train to keep rolling for year to come. And there’s no better time to hop aboard!
Image Source: Hinterland co.