An In-Depth Look at the Ever-Expanding CBD Industry
Are you interested in using CBD? Perhaps you’re an aspiring business owner looking to start a CBD business.
Regardless, the CBD industry is undergoing high demand as more people educate themselves about its benefits. CBD products continue to rise in demand throughout the years. Since the legalization of hemp cultivation in 2018, CBD items have exploded in popularity.
This article will reveal a greater insight into the CBD industry. Let’s explore.
What is CBD?
CBD is short for cannabinoids. It’s one of 100 compounds found in hemp and cannabis plants. Its counterpart, THC, is one of these compounds. With THC comes psychoactive elements. CBD, on the other hand, doesn’t provide the same euphoric effects as THC.
Instead, the user benefits from the relaxing properties. CBD’s healing effects are a boon to the cannabis industry.
How Big is the CBD Industry?
Analysts project the CBD industry will see $20 billion in sales by 2024. This in-demand product has attracted many investors looking to cash in on its popularity.
In particular, CBD oil products are driving demand within the CBD industry. Investors flock to CBD oil due to increasing annual demand and relaxed regulations. Moreover, analysts don’t see a dip in demand any time soon.
CBD business opportunities are plentiful, sparking a sprawling industry of shops and distributors across the nation. When it comes to distribution, forecasters expect an annual growth rate of 49 percent by 2024.
Additionally, CBD is a separate industry from other cannabis products. CBD also has a major impact on the following industries:
- Food and Beverages: You’ll find many CBD-infused foods on the market. Manufacturers also market these foods and beverages as healthy alternatives (i.e. CBD smoothies or CBD salad dressings).
- Pharmaceutical: CBD comes with a wide array of healing agents, especially for patients dealing with long-term pain. The pharmaceutical industry also includes CBD in medicines.
- Cosmetics: Many consumers are looking for cosmetics that are non-toxic and animal-cruelty free. CBD is also a natural skincare alternative.
Regardless of the trade, you’ll notice that each industry incorporates CBD due to its healing wonders.
Why is CBD Becoming Popular?
More people are becoming aware of CBD’s positive effects on the human body. It can deal with many ailments, such as:
- Quelling anxiety and depression
- Mitigating long-term aches and pains
- Managing cancer-related symptoms
- Reducing facial acne
- Boosting heart health
People who suffer from depression and/or anxiety seek CBD as a natural alternative to conventional pharmaceuticals. Standard mental health treatments come with negative side effects. Also, some prescriptions are addictive, leading to prescription abuse and prescription addiction.
However, clinical studies have shown CBD as a legitimate remedy for anxiety and depression. In addition to mental health, CBD can treat sexual dysfunction and insomnia.
Scientists have also discovered CBD’s correlation to inflammation reduction. The research indicates that cannabinoids bind to the nervous system and interact with neurotransmitters.
As a result, the body will reduce inflamed regions. Further, CBD medicines treat more serious conditions, such as multiple sclerosis.
- Note: Some CBD medicines contain a combination of THC and CBD to maximize healing potency.
In dire cases, CBD provides medicinal effects for cancer patients. Professionals also recommend CBD for patients undergoing chemotherapy.
Since chemotherapy fosters a wide array of side effects, CBD is a legitimate agent that mitigates sickness. It can also help patients dealing with nausea or vomiting.
Best of all, some studies suggest CBD may inhibit the growth of cancer cells. However, ongoing research is necessary before scientists reach a definitive conclusion on cancer reduction.
Researchers are also studying CBD and its effects on facial acne. According to recent research, professionals believe the anti-inflammatory properties of the cannabis by-product can reduce acne flareups. CBD may also lower the amount of serum production in the body, which is a primary contributor to acne.
If you’re more interested in preventative care, it also can lower blood pressure. CBD also addresses blood pressure by treating anxiety, a leading cause of high blood pressure.
High blood pressure can lead to heart complications, such as stroke or heart attacks. If you want to read more about the health benefits of CBD, read more now.
Due to the product’s numerous health bonuses, authorities have eased restrictions over the years. However, CBD faces stringent regulations in certain parts of the country.
Where is CBD Legal?
CBD-related products are legal in 47 states. There are only three states banning it officially. However, even the toughest states are beginning to relax restrictions.
- Nebraska: Nebraska state law bans CBD officially, but authorities decriminalized usage in 2019. Today, CBD products in the state must contain less than 0.3% THC. The CBD industry must also adhere to delivery and manufacturing restrictions.
- Idaho: CBD products in Idaho must contain 0% THC. Also, makers can extract CBD from certain parts of the hemp plant.
- South Dakota: All hemp and CBD products remain illegal in South Dakota. However, law enforcement in certain counties will not prosecute anyone in possession of CBD items.
Overall, the compound is legal under federal law, as long as it contains less than 0.3% THC.
What’s Next for the CBD Industry?
The CBD industry isn’t an industry that will come and go. More people will demand CBD products as they learn about the health advantages. It can alleviate aches and pains, and it can help patients going through cancer treatment.
It can also address mental health issues in the form of anxiety and depression. Plus, it will help you sleep better, combating insomnia and other sleep disturbances.
Most states across the nation impose few regulations on CBD use. With loose restrictions and rising demand, you’ll see more CBD businesses in the future.
Interested in reading more about CBD? Click here to learn if CBD works on dogs.
June Potter wrote this article on behalf of FreeUp. FreeUp is the fastest-growing freelance marketplace in the US. FreeUp only accepts the top 1% of freelance applicants. Click here to get access to the top freelancers in the world.
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