The rise of the CBD industry.
CBD, along with its closely related cousin, marijuana, has been on the minds and in the hearts of millions recently. As society continues to shift its attitudes towards natural remedies, CBD has quickly risen as a top contender for treating certain conditions such as depression, anxiety, chronic pain, and more. What’s fascinating about CBD is the plethora of benefits already found in the compound and the increasingly interesting research looking into CBD’s benefits and uses. So, just what exactly is CBD?
What is it?
CBD is one of many chemical components found in the hemp plant as well as cannabis. CBD by itself is not psychoactive but does seem to produce a general calming effect on its users. Since CBD is not psychoactive and can either be grown separately or isolated from THC (the active component in cannabis), that means CBD was never really illegal on a federal level. The 2018 Farm Bill ensures the benefits of hemp and its compounds were capitalized on and not lost like so many other promising compounds.
So long as your CBD contains less than 0.3%, three tens of one percent, of THC, then it’s legal to grow, possess and use as you see fit. Although some states have already or are marching down the path of legalizing recreational cannabis, it should be noted that a good number of states still do not allow cannabis-derived CBD to be used. If your life in a state where cannabis is still fully illegal, so make sure your CBD is coming from hemp, as most non-legal states won’t use CBD derived from cannabis anyway.
Market status and revenue.
Since the introduction and implementation of the 2018 Farm Bill, CBD has quickly catapulted itself into the 1 billion dollar industry club for personal use alone. Other hemp-based applications also make up another 1 billion dollars in revenue. Even more impressive is that many analysts believe the CBD hemp market will continue to expand into a $24 billion industry by the year 2023 and for a good reason.
CBD gained its fame early on in the field of seizure prevention or for treating epilepsy. Patients, especially children who suffer from dozens to hundreds of seizures per day, were some of the first to be treated in Colorado (the first state to legalize recreational marijuana). In 2018, the FDA approved the use of a CBD derived drug called Epidiolex, which reduces the number of seizures and, in many cases, stops seizures altogether for patients. CBD also has numerous other benefits, some of which are only just now being validated scientifically.
For instance, CBD has been proven to reduce chronic pain when applied as a lotion, taken orally, or some combination thereof. For some, a practical way of taking CBD for pain is by eating CBD sleep gummies. These are typically teddy bear/candy CBD gummies that taste the same as normal dummies. However, inside the child, proof packaging are gummies infused with CBD. These typically come in a wide variety of combinations and flavors and are just one of many ways patients and daily users enjoy this up and coming wonder drug.