What Is The Future Of CBD
According to predictions made approximately 3 years ago in The Hemp Business Journal, the CBD market is going to grow by $2 Billion by the year 2020. This could quickly soar to a $3 billion dollar industry by 2021. Thanks to more medical backing, the CBD industry has grown exponentially over the last several years and medical experts are more supportive of CBD than ever before. Such claims are backed by a variety of studies that are showing that CBD is an excellent alternative to addictive analgesics. In fact, the CBD can help to improve your well-being as well as overall health.
CBD doesn’t have the same components as marijuana so there is no way that it can give you the psychoactive high that is found in marijuana. You’ll never have to worry about being addicted to CBD nor will you have to worry about it showing up in drug tests. Even better, CBD can help to relieve pain and inflammation without the side effects that many medications give you.
Legal Status of CBD
Thanks to new regulations and medical marijuana laws, marijuana is now legal in over 30 states. CBD, on the other hand, is legal in all 50 states.
The Future of CBD In 2020 And Beyond
Prospects for CBD look great since the 2018 Farm Bill has passed removing it as a Schedule 1 drug per the Controlled Substances Act. The Farm Bill legalises all CBD products that are derived from hemp products as long as it’s been grown in line with all of the compliant laws. As long as it’s procured from a licensed grower, it is legal. With the removal of the legal constraints, hemp farmers and businesses alike are all smiling.
Supply and demand could lead to a reduction in price. This could bump the CBD standards up even higher as farms and businesses strive to differentiate themselves to increase and improve the value of their product. CBD production is likely to reduce imports as more and more are beginning to grow their own hemp. This will give more access to CBD products. With this in mind, the market is going to expand even further.
To further improve the businesses, as more supply is produced, there are going to be even more CBD products flooding onto the market today. Producers are going to begin exploring the myriad of uses for their CBD products including the food and beverage industry.
At present, there are a variety of lotions, salves, balms, gummies, and more on the market.
Older adults, who previously were against CBD products will begin to explore the possibility of use. They’ll learn more in regard to the benefits of CBD products and even if they’re not tech-savvy, they’ll begin to explore their options for age-related conditions such as arthritis. E-commerce will still be a huge part of the industry. Large stores such as Amazon may begin to stock
In short, the CBD market is expanding, and it has a more promising future since the signing of the Farm Bill in 2018. Production of hemp has been increased since the Farm Bill was signed, and more people than ever before are enjoying the benefits of CBD products. In the future, more laws will be created and designed that will make it even easier to get CBD products. Many more business’s will create platforms to enable a wider population getting their hands on these products, which in turn will benefit their lives, sativa cbd oil for sale is one that ensures complete transparency of what it can do.