6 Major Reasons Why the CBD Market is Constantly Growingx
Chances are, you've heard of CBD by now. Cannabidiol, also known as CBD, is one of the many compounds found in the cannabis plant. Unlike its more famous counterpart, THC (tetrahydrocannabinol), CBD is non-intoxicating and won't get you "high." Major skin care companies have started formulating CBD-infused products, while others are selling CBD oil and tinctures as dietary supplements. Even coffee shops and bars are getting in on the action, serving CBD-laced drinks. So why is CBD suddenly everywhere? Here are six primary reasons why the CBD market is constantly growing:
1. Its Availability
Marijuana is now legally available for purchase in 33 states in the US and several countries around the world. You can now buy CBD products at an online dispensary in Canada without a prescription. This convenience is one of the main reasons why the CBD market is growing so rapidly.
CBD products are sold in various formats, including oils, tinctures, capsules, and edibles. They can also be found online and in dispensaries and smoke shops. Prices for CBD products vary depending on the brand and the format. Tinctures tend to be the most expensive, while capsules are the least costly.
2. The Legalization of Cannabis
In its simplest form, cannabis legalization is the process of removing criminal penalties for using and possessing marijuana. It can also refer to regulating the plant's production, sale, and use. The main argument in favor of cannabis legalization is that it will allow for better regulation of the plant, while also freeing up law enforcement resources to focus on more serious crimes.
Supporters of cannabis legalization argue that prohibition doesn't work. Prohibition makes the problem worse by driving cannabis production and sales underground. By legalizing cannabis, we can move towards a more sensible policy that allows for regulation and taxation of the plant. This would provide a much-needed revenue stream for governments while allowing those who consume cannabis safely and responsibly.
3. The Growth of the Hemp Industry
Hemp is a type of cannabis plant that contains very low levels of THC. This means that it cannot be used for recreational purposes. However, hemp has several other uses, including the production of clothing, paper, biofuel, and food.
The industrial hemp market is currently valued at USD 688 million and is expected to grow to USD 1.8 billion by 2022. This growth is driven by the increasing demand for hemp-based products and the legalization of cannabis in several countries.
4. The Rise of the 'Wellness' Movement
The last few years have significantly shifted our health and wellbeing. A growing number of people are prioritizing their health and looking for natural ways to improve their well-being. This has led to the rise of the "wellness" movement.
CBD is often marketed as a natural way to improve your health and wellbeing. This is due to its purported medicinal properties, which include relief from anxiety, pain, and inflammation. As more people turn to natural remedies, the demand for CBD products will likely continue growing.
5. The Increasing Acceptance of Cannabis
Cannabis has been used for centuries for its medicinal properties. However, it wasn't until recently that it became more widely accepted by the mainstream medical community. This change is largely due to the increasing evidence demonstrating the plant's therapeutic potential.
In recent years, several high-profile studies have been published that show the efficacy of cannabis in treating a variety of conditions. For example, a study published in The New England Journal of Medicine found that cannabis effectively reduced seizure frequency in children with epilepsy. Another study, published in the Journal of the American Medical Association, found that cannabis effectively reduced pain and improved sleep in adults with chronic pain.
6. The Changing Perception of Cannabis
The perception of cannabis is changing all over the world. This is largely due to the increasing evidence demonstrating the plant's therapeutic potential. In recent years, several high-profile studies have been published that show the efficacy of cannabis in treating a variety of conditions. For example, a study published in The New England Journal of Medicine found that cannabis effectively reduced seizure frequency in children with epilepsy. Another study, published in the Journal of the American Medical Association, found that cannabis effectively reduced pain and improved sleep in adults with chronic pain.
In conclusion, the CBD market is constantly growing due to several factors. These include the increasing acceptance of cannabis, the availability of CBD products, and the changing perception of cannabis. With the legalization of cannabis in more and more countries, the CBD market will likely continue to grow.
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