Future Prospects For The CBD Industry

Three years ago, the Hemp Business Journal predicted that value within the CBD market would expand by $2 billion by 2020, potentially reaching the $3 billion mark by 2021. With the support of the medical community, CBD’s popularity has risen as growing numbers of healthcare professionals attest to its potential as a treatment for a long list of conditions. Their belief is bolstered by studies that suggest CBD is often a more effective alternative to conventional analgesic medications that can lead to addiction. The bottom line is that Sativa CBD UK can boost your overall well-being in many surprising ways.

Because it lacks the psychoactive properties of marijuana, CBD does not generate the high many erroneously believe. Furthermore, CBD is not addictive, and users do not need to worry about legal consequences of its use, because it is not detected in drug tests. Added to all of this is the fact that it provides impressive relief from inflammation and pain, but does not produce the negative side effects of other options.

CBD And The Law

There can be no doubt that marijuana itself has become far more socially acceptable in recent years, even though there do remain controversial aspects of its use. Numerous jurisdictions have legalised marijuana, and CBD oil is legal virtually everywhere.

The Future of CBD

Prospects for CBD market growth are good, particularly after the substance was de-listed as a Schedule 1 drug under the U.S. Federal Controlled Substances Act. CBD products with industrial hemp oil derivation were thus legalised, provided that the hemp is grown under the auspices of an authorised professional and done pursuant to Farm Bill requirements as well as state and federal laws. Now that the prior legal impediments to unfettered growth within the CBD industry, hemp farmers and other interested parties have reason for optimism as research, innovation, and acceptance of CBD products keep booming.

It should be noted, however, that increased interest in and demand for CBD products has the potential to force a lead-in price which prompts a rise in industry standards due to the need for business owners to differentiate their product from the competition and generate greater value. CBD producers are also likely to reduce their reliance on imported hemp, preferring to growth crops of their own. As such, the American-grown hemp industry stands to make considerable gains.

Greater supply will assuredly lead to a wider range of CBD products entering the market. Producers may endeavour to break into the food and beverage markets, just as they have done with the gummy and personal care product markets. Only time will tell how much success can be had in these sectors.

With the expected market expansion, older users who lack tech skills will likely buy more and more CBD products. Therefore, producers will need to make their wares available in an offline manner. Those turning to CBD to address the pain of arthritis and other age-related complaints will need heightened attention and flexibility from sellers. However, e-commerce distribution channels will remain vital to the CBD industry, and online giants such as Amazon may make a significant foray into the world of CBD products.

The bottom line is that the market for CBD products of all times is extremely promising, due in large part to lessened restrictions on hemp production. The proliferation and ubiquitous presence of CBD products going forward seems all but certain.