Hemp-Based CBD is becoming a booming market with considerable growth expected in the coming years. Many companies have seen considerable growth in their sales since they began in this market. As CBD is not a controlled substance, it is currently within easy reach of many people, and its benefits for your health are plentiful.
The Hemp Business Journal predicts the CBD market will have become a huge $2.1 billion consumer market by 2020, an epic 700% increase from 2016. The market has already been the target of industry leaders as there are already more than 800 CBD products in the US state of Washington alone, and there are business from all over the world selling cannabidoil from a variety of vendors – from consumer-based to medicinal.
Some experts even expect more from the CBD market, such as Matt Karnes of Greenwave Advisors. He says that “In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now there are 15 (US) states that allow CBD only – this is in addition to the 28 (US) states plus DC that have legalized medical marijuana.”
It is true that the average cannabis user is interested in what CBD has to offer as well. The largest cultivator in Southern California known as Outco found that 38% of users and none users are interested in learning more about CBD oil and what it has to offer.
This is good news because it is important for consumers to educate themselves properly on what they are purchasing. Even now, CBD is often not properly regulated. For this reason many producers can import industrial CBD oils, commonly from Chinese industrial hemp that is cut into their products.
Although CBD has been proven to display a plethora of health benefits including as an antioxidant, neuroprotective and therapeutic substance, it is important to be cautious of companies who make bold claims such as that they could cure many of your ailments with CBD oil. CBD may have the ability to cure a variety of ailments, however it is always best to consult your doctor or medical professional before you try this.
Most companies are purposely reserved when labelling their products for this very reason. Although this can make it difficult for consumers to know what to buy, it is better for the company to avoid trouble in the long run. It is important for consumers to educate themselves thoroughly on any health products they choose to consume.
Our CBD oil range is entirely organic, grown in Europe and extracted using the most up to date CO² techniques. This provides us with pure CBD oil of high strength as our soil is completely natural. If you are interested in a high-quality dietary supplement such as CBD you could also consider growing your own. If you suffer from epilepsy, cancer, chronic joint pain or PTSD – or require CBD oil for any other reason – making your own might be the cheapest way to provide you with the relief you require.
The hemp-based CBD market grew from almost nothing to a total $202 million market in 2015. This includes dispensaries, natural, specialty retail, mass market, practitioner, internet, head shops and pharmaceuticals.
The report produced by Hemp Business Journal is the first to give an optimal perspective of where the CBD market is and what it could achieve based on all of the various consumer lines. As the company’s founder and publisher Sean Murphy said, this provides “the first view to investors, executives and regulators on what’s really happening with CBD, the hottest category in the broader multi-billion dollar cannabis industry.”
Hemp-based CBD is not listed as a controlled substance in a lot of countries due to it not being a psychoactive compound. It is currently legal to buy or import hemp CBD in all 50 states in America. This is despite the confusing stance that the Drug Enforcement Agency has on it that it considers CBD as a Schedule 1 controlled substance, based on the fact that it considers anything with an extract of cannabinoid as a drug. The industrial Hemp Farming Act of 2015 excludes hemp and therefore hemp-based products from the controlled substances act, so even in America, you should be okay.
Medical Marijuana Inc. was one of the first companies selling this kind of product. It says that its sales were expected to reach $9 million in 2016 for hemp-based CBD products alone, compared with $3.4 million in 2013. This shows that the cannabidoil business is moving in leaps and bounds.
To find out whether CBD works for the consumer, they have to give it a go. Although it is important to do your homework and ensure that you are purchasing a product that is of high quality, there are very few side effects.
Choosing a product that is well-sourced, using up to date extraction techniques, with good quality seeds is the ideal way to do this. It is important to go through this process as a consumer to add pressure to the industry to produce a product worthy of consumption.
With the great research expanding regarding the positive effects CBD can offer for your body, so to is the market. Whether it is rheumatic pains, muscle inflammation, lack of concentration, constipation, beriberi, CBD oil has been shown to help to control even seizures or nausea. More and more reasons are coming to light, showing that CBD could help you. Fingers crossed, perhaps in the future we will find that cannabidoil products are as popular and easy to come across as your everyday painkiller. It would certainly be a big step in the right direction for the medical world.