According to a revealing new report by CBD data guru Headset, CBD dollars are eclipsing sales revenue in the cannabis market, even in states that recently legalized medical and recreational cannabis. Oils, topicals, and edible gummies are the most popular sellers for CBD consumers right now. With this much hype, you would think the trend had hit its peak by now, but all data suggests that this wellness tidal wave has just started to swell. CBD oil, or cannabidiol oil, is extracted from the cannabis sativa plant using the flowers, leaves, and stalks. There is no THC in CBD oil, so it does not provide the high that you might expect from the cannabis plant. So in an era where marijuana use is starting to become destigmatized, how is a non-THC product dominating the cannabis market?
What Makes CBD Oil So Appealing To Consumers?
You can’t toss a stick in the health and wellness market right now and not hit a CBD product. Over the last few years, CBD oil has been quietly building up to what is currently a very loud explosion. People use it largely for anxiety and pain relief but it’s potential to be used as a treatment for many medical conditions makes it the subject of constant curiosity and controversy.
Here are some of the reasons CBD Oil Got Popular Quickly:
- It’s an all-natural compound. Consumers are growing tired of constantly being pushed to take medications and supplements for their health needs. This plant-based option gives people the opportunity to find a new way to ease their symptoms without depending on more prescriptions.
- It went viral on social media. Celebrity and influencer endorsements played a big role in the popularity of CBD oil. It also has a following with the multi-level marketing entrepreneur crowd.
- Laws are softening around cannabis products. The US Farm Bill of 2018 made the growth of industrial hemp legal and accessible. CBD oil without THC is now legal on the federal and state level in many states. A growing handful of states are also approving cannabis products with THC as well. This means that CBD is having an easier time getting onto mainstream store shelves from retail stores like CVS and Walmart.
- It works with the body’s natural endocannabinoid system in the brain, which according to UCLA Health, maintains homeostasis by regulating things like pain, mood, movement, and inflammation.
- Although scientific research hasn’t had a chance to catch up with irrefutable evidence, there are claims that CBD oil can be used as a treatment for anxiety, depression, PTSD, insomnia, chronic pain, arthritis, and a whole lot more.
Hemp Becomes A Cash Crop
Since straight-up marijuana is still banned in most of the 50 states, companies wanting to cash in on the $340 billion global cannabis market trend have turned to a similar but less regulated product, hemp. With the 2018 US Farm bill officially legalizing the growth and cultivation of hemp with no THC in it, it’s become the latest and greatest cash crop. Farmers and extraction plants are gearing up for the inevitable entrance of mega-players in the market place like Coca-cola and Procter & Gamble. Bloomberg reports that more than 200,000 acres of hemp are licensed to be planted in America right now. There is some skepticism however as Canadian farmers have already experienced both a boom and a crash in hemp production.
Possible Treatments Offered By CBD Use
When it comes to clinical studies, the most documented CBD therapeutic use is for the seizer disorder, epilepsy. In fact, CBD first hit the mainstream news when it worked to reduce the constant seizers being experienced by a little girl named Charlotte. There have been a few small studies that look promising for CBD use for social anxiety as well. Most of the other claims are largely antidotal, spread by word of mouth from an energized fan-base.
Some of the possible uses for CBD oil have been highlighted in a journal published by The National Library Of Medicine, and they include the following:
Pain Reliever: Cannabis has been used throughout history as a pain-reliever. Cannabinoids may be useful in pain modulation by inhibiting neuronal transmission in pain pathways. Chronic pain relief is one of the most popular uses of CBD right now.
Inflammation And Auto-Immune Responses: CBD is showing positive signs that it can reduce pain and inflammation for people with arthritis, rheumatoid arthritis, lupus, and multiple sclerosis.
Anxiety, Depression, and Insomnia: Initial testing showed a reduction in anxiety using CBD oil as the main therapy. Because CBD acts on brain chemistry that impacts mood, it’s being looked at as a possible therapy for depression, PTSD, bipolar disorder, and other mental health conditions. CBD can also help you fall asleep faster and improve the quality of your sleep, much like melatonin does.
Cancer, Parkinson’s Disease, Alzheimer’s, Etc.: As research is just getting underway, the door is wide open to speculate that CBD could advance treatments and therapies for some heavy-hitting diseases that impact millions of people around the world. CBD is not being marketed as a “cure” for these diseases but rather a helpful agent it getting symptoms under control and giving people a better quality of life.
If you’re looking to dip your toe into the CBD market or even try some of the oils for yourself, check out this list of the CBD oils on the market right now by Cool Things Chicago.
Why Investors And Business Owners Need To Pay Attention To CBD
The stock boom for the cannabis market has been called the “green rush” but hemp has the potential to take over since the hemp-derived CBD popularity train is steadily gaining ground. Investors might want to mix in a healthy amount of hemp and CBD stocks to balance their cannabis portfolio. Any businesses looking to get their foot in the door with cannabis would also be smart to start producing or selling CBD products, especially oils, topicals, and gummies. In fact, it is estimated by Real Money that 50% of the money spend on edibles is used to purchase CBD gummies right now.