By Oliver Stone
There are three ways to get CBD in 2020: from state-licensed dispensaries, over the counter, and GW pharmaceuticals for patients who suffer from severe forms of epilepsy. To be fair, CBD is available in different forms and the market is flooded with various products. The CBD market is expected to grow by $20 billion if the industry expanded at its existing rate. There is big money, increased recognition, and much more waiting for the CBD industry.
So far, the CBD industry has witnessed drastic changes and it’s only the beginning of what’s about to come next. At the same time, questions regarding CBDs’ efficacy has forced consumers to think critically. This massive industry has seen a lot of criticism, especially in terms of product claims and labels. Looking at the present scenario, it is safe to say despite criticism and loopholes in the law structure CBD has managed to collaborate with businesses and build a trend that’s everywhere. So, how did one cannabinoid manage to build a multi-billion dollar industry? Read on to find out.
A huge driving force behind CBD popularity is the Farm Bill. Soon after the bill became a law, CBD derived from hemp with less than or equal to 0.3% THC became legal federally. The law proposed that hemp-derived CBD will no longer fall under the schedule 1 controlled substances category. This means that patients who use CBD for their health no longer require a 420 med card or a recommendation to avail of CBD oil and other products.
The biggest advantage of this law is that now scientists can conduct in-depth research on CBDs’ therapeutic potential. This way, not only will CBD be able to establish its identity as a potential alternative to medicines, but also attract a large number of pharmaceutical industries.
Solely looking at the farm bill and clauses inside the bill, it is pretty much clear that after legalization hemp has become an essential agricultural commodity. This clearly indicates that farmers can market their products without having to worry about a possible arrest. Although the farmers will be required to show that the crop contains no more than 0.3% THC. In addition to this, the producers and manufacturers have to get state approvals and cultivators must have respective licenses. Also, looking at the past few years, hemp cultivation has increased rapidly. From 27,424 acres to 128,320 acres the hemp farmers are growing four times the hemp they used to before Farm Bill became law.
Yes, the Farm Bill has helped the CBD industry gain immense recognition and popularity. The only exception, in this case, is that hemp legalization is not that simple. Many people think that hemp legalization means that all CBD products are legal for purchase and consumption everywhere and for everyone. The reality is that state laws vary across the nation and some states have a different view about hemp. If you look at the state arrest reports for possessing and selling hemp, you are most likely to come across news reports claiming that store owners and CBD users have been arrested on cannabis possession charges.
Of course, not all states have strict rules. For instance, laws regarding cannabis are quite lax in California and Colorado. These states have allowed CBD to thrive and grow as a therapeutic product. In fact, California has the highest number of medical marijuana patients. Also, one of the major reasons why the CBD industry has been able to manufacture, grow, and produce products at an increased speed.
CBD’s Therapeutic Benefits
If you Google terms such as CBD, hemp, or cannabis oil research, you will come across a variety of research papers and studies. Around 600 research papers are investigating the nature of CBD. Some studies will talk about how CBD can help alleviate anxiety while others will focus on CBD treatment for chronic pain, PTSD, arthritis, cancer, and many other medical conditions. The biggest question is CBD is a part of the schedule I controlled substance. So, why do scientists and researchers study so much about one compound? Is this scientific interest the cause of CBDs popularity? Let’s find out.
First and foremost, CBD is found in the cannabis Sativa L plant. A bunch of studies claims that CBD can interact with the endocannabinoid system, precisely receptors inside the human body. These receptors pave way for biochemicals that influence pain, inflammation, mood, and many other things. Given the fact that this substance has scientifically-backed potential, it is naturally bound to generate interest among the scientific and cannabis community. In fact, CBD is widely being used for the treatment of various conditions and anecdotal evidence suggests that it can help alleviate the symptoms of many conditions.
Some of the common medical conditions reported in the past few years as effectively been treated by CBD include anxiety and pain. Despite the scientific proof and patients reports, the stride made in the research sector requires more balance. Some studies still suggest that CBD is an interesting compound but a lot has to be studied about its nature and relationship with the human body. Luckily, the federal status for hemp allows the researchers to freely look into this aspect.
Cannabis has long lived under the shadow of stigmatization. People only viewed cannabis as a drug used to get high and even today marijuana is viewed as a psychoactive substance. However, in reality the cannabis plant consists of different compounds and one of them is CBD – a non-psychoactive component of the cannabis plant. Unlike THC, CBD does not produce high and marijuana products consist of different THC: CBD ratios. In fact, craft cannabis plays a major role here because products are engineered according to the medical requirements of an individual. This means that a product rich in CBD will have little or very few ratios of CBD required to treat various types of medical conditions.
In the US, any hemp-derived product with 0.3% THC will not produce intoxicating effects. Also, one of the major reasons why people prefer consuming CBD for their medical conditions instead of THC. The only problem comes when despite this distinction people fail to recognize the potential of cannabis. As a result, the stigma associated with cannabis deems to overshadow everything CBD has in store for the future.
What’s more interesting that now people have evidence to back the therapeutic properties of CBD. Even history shows that cannabis can help alleviate the symptoms of certain medical conditions. Perhaps people have started taking note of these things as more and more CBD products enter the lives of Americans. Luckily, people have opinionated their positive views about CBD in the past few years. More vitally, the cannabis industry has always advocated the use of CBD. There are different types of marketing and digital campaigns for the same. So, looks like despite several roadblocks CBD has managed to make a lasting impression.
CBD Is a Convenient Remedy
In recent times people are looking for alternatives to existing treatments. Especially for opioids. Let’s face it opioids have several side effects and they can prove fatal if overdosed. On top of it, the addiction rate associated with opioid use is quite high. So, naturally, people look for alternatives with lesser side effects. And given the popularity CBD has gained in the past few years, there is no surprise when people seek cannabis care. In such cases, cannabis seems like a favorable option to people.
Also, big brands such as Sephora have collaborated with the CBD industry. Many people in the past have advocated the use of CBD for skin problems and look like CBD can be the new face of the skincare industry. Although it’s hard to say whether cannabis will be the cure-all factor for people looking for efficient alternatives.
Not only this but the positive impact of CBD on various medical conditions states that people will rely on cannabis more in the coming years. It has immensely caught the attention of different segments of people and widespread popularity makes CBD an appealing product that people would try.
The longevity of CBDs popularity can be assessed on several grounds. For instance, legalization. In terms of the law, it seems like CBD has a long way to go. However, it is difficult to analyze the fall and rise of the CBD trend. From the current perspective what sets CBD apart from other trends is its ability to provide health benefits. So, many trends may have come and gone in the past, CBD will stay until science backs its therapeutic benefits.
Through the collaboration of marketing, legalization, scientific research, and promotional activities, CBD will continue to grow. For now, the only thing that seems like a potential threat to the image of the CBD industry is the mislabeling of products. If that problem is solved the CBD and cannabis industry as a whole will continue to grow in the years to come.
Oliver Stone is a content writer at Bakersfield 420 Evaluations. Beside his love for writing, he loves to paint and travel the world.