The Boom of CBD Industry

CBD, or cannabidiol, is the non-intoxicating component of marijuana that has shown promise for various different medical benefits. It has been proven to drastically reduce seizures in epilepsy patients, but also shows potential in many other areas. The recent CBD industry has exploded, with products such as oils, protein powders, makeup, and even CBD dog treats!

 Products first started showing up in marijuana dispensaries, but have now penetrated grocery stores, pharmacies, cafe’s, and others. Society’s demand for CBD in conventional retail is a further sign of the overall acceptance of cannabis and its potential medical benefits. As previously mentioned, CBD is non-intoxicating, so its presence in products will not physically impair anyone.

There have, however, been promising studies that suggest CBD can be used for treating depression and anxiety, glaucoma, physical pain, and to ease inflammation. CBD Oils are now being sold for dogs, which can help treat seizures, pain, and depression. According to a study published by the American Journal of Psychiatry, CBD can even help heroin addicts ease their cravings and anxiety.

Because of the diversity of conditions CBD can treat, its sale has affected many different areas of industry. These include cosmetics, food and beverage, pharmaceuticals, skin care, and others. The growth has been so explosive that it is now predicted in a recent study by BDS Analytics that sales from CBD will exceed $20 billion by the year 2024.

The recent boom has caught many off guard, with 56% of adults over 21 not understanding the difference between CBD and THC, according to BDS. THC is the active intoxicating ingredient in marijuana, causing the user to feel ‘high’. Because of this, products containing THC are only sold in dispensaries certified to do so, and with an age restriction of 21 or higher. THC products are regulated and sold similar to alcoholic beverages, another intoxicating substance.

 CBD differs in that it is not intoxicating, and does not need to be as tightly controlled. Because of this, the market potential for CBD is even greater, because its products can be sold in conventional retail. While there are businesses that require customers to be 21 for purchasing CBD, there is no official age restriction, leaving the decision up to the retailers.

As the CBD industry continues to grow, so too will the scientific knowledge and studies. Given the myriad of conditions it can treat, and the continued emergence of new ones, it’s safe to say that it won’t be going anywhere for a while.

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