CBD Market Goes Beyond Expectations
In the last couple of years, experts estimate that the US cannabis market will hit $20 billion by 2020. However, with the latest trend and the growing demand for CBD products, a new estimate suggests that the market could hit $22 billion in revenues by the year 2020.
CBD or Cannabidiol is getting more and more in demand
It started with CBD oils, tinctures, edibles, and vaping oils. Now, you can see CBD in almost every product.
It’s being added to skin care products and products for pets. Coffee, chocolates, ice cream, and even sodas are being loaded with it, too.
These trends aren’t really that surprising. As more and more research is done to prove the medical benefits of CBD, the more people are drawn to it.
So far, there are studies that suggest CBD’s capabilities to help relieve pain, reduce anxiety, and ease sleep issues. Experts believe that it can also help people with cancer, Parkinson’s, anxiety disorder, post-traumatic stress disorder, and more.
The increasing sales of CBD are still not in full gear. This is because it still lacks the green light coming from the Food and Drug Authority.
The FDA is very cautious when it comes to CBD as the agency still needs to have a sound and science-based approach for the products.
With CBD not being regulated by the FDA, there are a number of risks that come with securing it for your health. One, there’s no way for consumers to really get to know the product they are taking.
With such great demand, tons of companies are releasing misleading products. They sell CBD products that are either low quality or don’t contain CBD at all. Some sell contaminated products which can compromise people’s health.
With that, it’s important for consumers to not just follow the trend and what everyone is doing. It’s recommended that they do their own research before investing in a product. While research claims that CBD is effective, not every CBD product is the same.
Take the time to really get to know both the product and the brand. See how transparent they are and how true they are to their claims. That’s one way you can safeguard your well-being.
If you aren’t sure where to start, browse this site to learn everything you need to know about CBD.
Remember, taking low-quality CBD products is almost the same as not taking any at all. You’ll just be practically wasting your hard-earned money and time.
The Future of CBD
The result of today’s research isn’t the only thing that can affect the CBD market. Its legalization can boost its revenues to an even greater number.
With restrictions of the law, not all people who need CBD are able to secure it for their health. Some dismiss the idea in fear of the law while others take the risk and rely on the black market to get their daily CBD dose.
With legalization and regulation, CBD market can still go way beyond what we expect. It won’t just be the sales that will increase but its application, too. More people will benefit from its healing properties.
Image credit: CBD Market via Creativan/Shutterstock