CBD has grown to be a buzzword in recent times, and it’s pretty sure you, too, won’t resist giving it a try. Its benefits have caught the eye of innumerable people, and hence CBD market is touching the heights of the sky. Its unique way of binding with the receptors makes it an unusual herb. Also these days you can try smoking cbd flowers using vapes available in the market. But is this just a timely trend, or will it stay around for a longer time? Will CBD go away with passing the time? Certainly not. Read the entire text to know why the CBD market is expected to stay and grow.
Top Reasons Why The Cbd Market Is Here To Stay
- CBD is now almost in everything
The popularity and the trend of using CBD-based products are rising, which does not seem to end soon. You can find cannabidiol everywhere, from skincare to supplements. Additionally, there are even bath bombs made out of CBD. It’s now available in grocery stores, farms, and even in coffee shops. Also, your favourite gummy bears have this beneficial compound. Its calming and relaxing properties account for the fame it is getting. With each passing day, all the industries tend to shift towards cannabidiol. Hence it is not a short-term hype, and its future seems even brighter.
Many food industries are also planning to launch food items that have CBD infused into them. Isn’t that amazing? Truly. An ice cream brand announced recently that they are planning to get a CBD-based ice cream sent to the FDA for approval.
- It’s not only humans, but for pets too
Till date, you might have heard that human-focused brands have infused CBD into their products, but to your surprise, the pet industry is also driving its usage of cannabidiol. The trend of buying CBD pet products is on the rise. Pet owners are trying to make their little munchkins friendly with these products. A recent survey reported that 84% of dog owners and 38% of cat owners reported that their pets had anxiety issues to deal with. And the effects of cannabidiol on anxiety are evident to everyone out there.
Hence giving your pets CBD treats might be an easier and more effective way to treat anxiety. Pets aren’t directly given oil, and hence you might find some treats, bars, chews, and peanut butter for them in the market.
- It has been legalized
While some products are discontinued due to legality issues, this is not the case with CBD-based products. Selling and utilizing these products has been legalized by the Farm Bill of 2018. At first, the operators used to cultivate and sell internationally. But now, after legalization, the CBD industry has seen a sudden spike in sales. The Farm Bill mentioned that you could utilize hemp-driven products legally if it has less than or equal to 0.3% of THC. The majority of the time, regulations regarding the CBD are state-dependent.
DEA tried to declare CBD as a schedule-I drug but failed. Hence it is no longer a controlled drug. It is one of the compelling reasons to believe that the CBD market is here to stay.
- It has become a great business
According to a recent survey, the CBD market hit about $4.6 billion in sales in 2020. It seems to be a big number as it was legalized just two years back. And further, it is expected to grow up to $18 million by 2025. To the present date, CBD companies offer a wide range of products, from CBD lotions to CBD oils. This diversity in products will expand with new companies in the market. Different products will have different compound concentrations so the potency will vary. The introduction of different companies makes it evident that CBD is sure to stay.
- Advancement in technology
When cannabis was discovered, its extraction process was basic and not well researched. But when you look at the technology for extraction in 2022, there is an unimaginable advancement. There are plenty of different methods to extract CBD from hemp plants. Additionally, now you also have safer ways to extract CBD. When you use safer, efficient, and environmentally friendly ways to extract CBD, you get the best products that have maximum effectiveness. The CBD derived using the best extraction method can work better for ailments. Hence increasing technology in cannabidiol extraction indicates that it’s not just a hype.
Several pieces of research and studies have proven that CBD could be a great compound to support your health and treat medical issues. Additionally, it is legal and does not have side effects making it more popular and letting its market expand. A sudden rise in the sales of CBD-based products like CBD oil, CBD Gummies, cbd shampoo for dogs, etc. was noticed after 2018 and is thought to multiply shortly. Hence it is safe to say that the CBD market is here to stay and not just a timely trend.