Detailed Analysis of the CBD Market and its Future
Despite lots of controversies and issues with legalization, the industry of CBD is growing rapidly. Being one of the most exciting markets in the United States, and the world, it has the potential for a very promising future.
Cannabidiol is one of a hundred identified compounds of the cannabis plant. It is also a medical product that is known for not having the intoxicating content of THC. This is the main reason behind the growth of the CBD market throughout the globe. CBD is legalized in 28 states including Texas for medical and recreational purposes under certain conditions. There is an increasing body of medical science and research that supports CBD use for several ailments including chronic pain, anxiety disorder and many neurodegenerative conditions.
Market Analysis: From 2015 to Present
Since the new millennia, CBD oil has been used to treat several ailments, but before the 1960s, the individual compound of the cannabis was not identified. Dr. Raphael Mechoulam was the one that revealed the structure of CBD and THC. By the 1980s, research that would later discover the positive impact of CBD began. In 1988, its effectiveness towards the endocannabinoid system was discovered and pharmaceutical companies were licensed to farm weed to create a synthetic drug featuring CBD. In 2006, Harborside Health was created to isolate CBD. In 2009, Steep Hill Labs and Marijuana dispensary found marijuana strains with high levels of CBD.
In 2015, the market of CBD oil and other products exceeded $202 million. Of that $112 million was from marijuana-derived CBD products and $90 million was from hemp-derived products. In 2016, the amount of hemp-derived products created a market worth almost double, $170 million. Business analysts found that the growth of the CBD market indicates around 55%per annum and that is very promising for in the future. According to them, by 2020-2021, it will reach the billion-dollar market.
There are many investors who are utilizing the growing market of CBD. There are authentic businesses and fraudulent ones as well. You have to be vigilant of where you get your product from. Especially if you are going to use it as medicine, as your results depend on its quality. The drugs effectiveness on your ailment will vary. CBD Plus is one of the reputable and experienced companies that have been trading in CBD oil and other products of CBD for a long time. Their testimonials are very promising. If you are wanting to get CBD products, go to them and get quality products at a reasonable price. We have CBD stores in Texas, Oklahoma, Arkansas and many other places in the United States. Visit the stores or find out more from their website.
**Disclaimer : The content above does not create a healthcare provider-patient relationship nor intends to offer medical advice.