How the CBD Industry has Changed Over the Years
Author: Jason Beverly
CBD is short for cannabidiol, a product extracted from the hemp plant. Hemp is closely related to marijuana, but is different in terms of properties and uses. The compound is believed to offer a lot of benefits not only for humans, but also for pets. If you’re wondering if CBD products can help you with your health issues and concerns, check out Rave Reviews for guides, reviews, and articles which can help with your decision-making.
Here’s a quick introduction into the background and future prospects of the CBD industry.
Hemp plant, from which CBD is derived, has been used for medicinal purposes for thousands of years. The first recorded case was in China, when the emperor drank cannabis-based tea to help with existing health issues, including gout, malaria, and declining memory.
Historians believe that Queen Victoria herself used CBD as a treatment for menstrual cramps. The hemp plant was eventually introduced in America when colonists started cultivating it to serve a range of purposes, from using the fibers to create paper, to using the extracts to treat various conditions and ailments.
In 1940, a group of researchers from the Illinois University isolated the compound. They’ve also found that CBD doesn’t have the same psychoactive qualities which are common to other cannabis compounds like THC.
With its introduction to the public, CBD started gaining a reputation for its pain-relieving properties that don’t generate the same side-effects as some of the common pain relief medications in the market. The Center of Medical Cannabis (CMC) lead the discussion on the research efforts and regulation of hemp products.
Here are some notable highlights of developments in the regulatory framework which led to the exponential growth of the industry:
- The Agriculture Improvement Act of 2018 (The 2018 Farm Bill), which the US president signed into law on December 20, 2018, made CBD legal on a federal level. Today, CBD is legal in most states.
- The Food and Drug Administration (FDA) has approved the supply of hemp-related products by several licensed commercial hemp growers and companies.
- Epidolex, a CBD-derived oral solution, was also approved by the FDA for release into the market.
A lot of manufacturers and suppliers have made incredible claims about the medical effects of CBD products. The truth is, scientific research into many of these claims is still underway. If you’re looking for products that can really work as they’re advertise, you need to look into their claims more meticulously and check out CBD reviews to determine their effectiveness.
Some of the benefits of CBD that are backed by academic research are the following:
- Alleviating chronic pain and reducing inflammation.
- Managing the symptoms of cancer and the side-effects of chemotherapy
- Managing nausea and sleeplessness
- Helping with stress and anxiety
- Treating epilepsy syndromes by reducing seizures
Before using CBD products as a treatment for any medical condition you may be suffering from, it’s best to consult your doctor first. They’ll ensure you’re taking the right products and prescribe proper dosage.
Possible Barriers for Industry Growth
Today, the CBD industry is growing at an impressive rate. CBD products are now easily available online and from massive chain stores like Sephora or 7/11. While many experts believe that this trend will continue into the next decade, there are some challenges that the industry will have to overcome along the way.
Some of these challenges include:
- High competition - While some business owners may think that the low cost of entry into the CBD industry is a benefit, market oversaturation is a real problem. Because the industry is poised for continued growth, more investors and entrepreneurs are entering the market. It’s possible that, in the next few years, businesses are going to find it hard to make their brand stand out from their competitors.
- Confusion between THC and CBD - Many consumers and lawmakers are still uninformed about the difference between marijuana and hemp and their side effects. In fact, because the two are closely related, the negative market perception for cannabis products has also extended into the CBD realm.
- Government regulations - Many countries still consider the use of CBD products as illegal. It's a major setback for manufacturers and sellers who want to expand their business into the global market.
The CBD industry has grown and will keep on rising in the future. The potential for high returns makes the CBD industry a very attractive option for many investors. However, because business owners still face considerable challenges and barriers when entering this market, there is no doubt that CBD products are here to stay.
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