Despite These Uncertain Economic Times, Experts Still Believe CBD Is A Booming Industry
The CBD market is all set to race ahead with an increase in CBD products. One of the reasons why CBD is so popular is because it offers many of the same perks as THC/medical marijuana without the intoxicating effects usually associated with it.
Until quite recently cannabis-based products were illegal in the US due to the anti-drug legislation of the 1970s, making it a Schedule 1 Drug. From 2010 onwards, many states started legalizing cannabis for medical and recreational use with California and Colorado taking the lead. Until 2018 when the Farm Bill was passed, the federal government did not officially recognize hemp (cannabis with less than 0.3% THC).
CBD offers health benefits and since it is a naturally occurring compound, CBD is safe to use. Most use it for anxiety treatment, its anti-inflammatory properties, dealing with seizures, and pain management. The market for CBD products has become very powerful with billion dollars in gross sales in 2019. One of the main challenges faced by CBD is the fact that it is associated with THC and marijuana. Anyhow, public opinion is turning slowly in its favor.
Regardless of exact numbers, the demand for CBD is only continuing to grow, so we’re sure to see new brands, varieties, and products available and the sale of those products increasing within the next five years.
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CBD is one of many powerful cannabinoids found in hemp known for helping to support our body and mind. Here at Healing Dragon CBD we do not intend to make unfounded medical claims about the health benefits of CBD. The FDA has not confirmed that CBD cures, treats, or prevents any diseases or conditions. Before reading this article please take a moment to read our full disclosure statement.