Home CBD Classics What Does the Future Hold for the Cannabis Industry?

What Does the Future Hold for the Cannabis Industry?

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The cannabis plant has had a negative image because it has been criminalized for many decades. However, as laws about this plant changes, there is a growing interest in researching into cannabis and its compounds. One of the over 100 compounds in this plant has particularly stood out due to its potential health benefits. Cannabidiol, also known as CBD, could be the next big thing in the health industry.

I am not one to keep up with the latest developments in the medical industry or read scientific journals. Nonetheless, I have heard so much about CBD. This compound, which is derived from the cannabis plant, has been shown to be effective against a wide range of conditions including epileptic seizures, inflammation, anxiety, pain, diabetes, obesity, insomnia, cancer, cardiovascular issues, bone diseases, and even psychotic episodes. CBD has been touted as something akin to a magical cure-all solution, and it is easy to see why. This compound has many health benefits not just for humans but also for pets.

It, therefore, comes as no surprise that there is a bustling CBD industry. The market for CBD products is expected to be worth up to $2 billion by next year.

CBD is expected to help change the general perspective about cannabis and is likely to spur further research into the potential benefits of the plant. Currently, tetrahydrocannabinol (THC) and CBD are the two most popular cannabinoids found in the cannabis plant. However, as indicated above, there are over 100 others with potential health and industrial benefits.

There are several types of CBD products on the market today. From candy to coffee, tinctures, vape juice additives, soaps, oils, dab wax, lotions, and more. It seems manufacturers are coming up with new CBD products every day. Big name celebrities like Dr. Sanjay Gupta, Mandy Moore, Morgan Freeman, Seth Rogen, and Whoopi Goldberg have joined the bandwagon to promote CBD products.

In recent history, very few things have captured public imagination as CBD. Some pundits have even compared the popularity of this compound with that of cryptocurrencies.

The fact that CBD has no side effects adds to its almost infectious appealing. If the current trend continues, which is likely to be the case, CBD could become part of our health accouterment for years to come. No doubt, further research is needed to reveal more about CBD and its possible uses.

The CBD market still faces some regulatory hurdles. Currently, CBD products exist in a “grey area” of the law. While they do not contain THC and are usually derived from hemp plants, there have been instances where law enforcement officials have forced some shops selling CBD products to close down in the U.S. and other parts of the world. However, these incidents have been few and far in-between. CBD companies insist that the 2018 Farm Bill backs the legality of their products. Nonetheless, the Food and Drug Administration (FDA) has asserted its right to regulate the CBD industry. The FDA has since approved some CBD products for sale. The agency is expected to come up with guidelines for the budding industry.