CBD – an Industry That Will Be Worth More Than $20 Billion
The CBD industry is growing at a very fast pace for the last few years. With the legalization of different cannabis products in many states, CBD products are everywhere. You can find them in different stores, pharmacies, and online stores as well.
In the last decade, CBD had two major breakthroughs that guaranteed the success of its products in the upcoming years. First, Epidiolex had the status of becoming the first FDA approved drug in 2018. It is a medicine given to patients with two complex types of epilepsy(Dravet Syndrome and Lennox-Gastaut syndrome). The second success for CBD is the hemp farming bill that allows farmers to grow industrial hemp for commercial purposes.
With these recent successes, CBD products are expected to get more attention and more business in the upcoming years. Not that the business has not been good for the CBD industry in the last few years, but the increasing popularity of the substance is sure to result in a violent expansion of the company in the upcoming years.
CBD Products You Can Find in the Market
At the time of writing this article, there are many different types of CBD products in the market and hundreds of brands selling these products. Some of the famous products you can find in the market include CBD vape cartridges, CBD pre-rolls that are basically hemp flower pre-rolls, CBD oils, CBD capsules, CBD gummies, and many others. These are the products that are actually effective and give you the medicinal benefits of CBD.
The skincare industry is also adding CBD extract to multiple products. There are many such products, including cosmetics and self-care products. The products you can find include CBD bath bombs, CBD soaps, CBD lip balms, CBD gels, CBD topical creams, and many others. They may not sound like they actually work, but there is some research on rats that confirmed that topical CBD gels help with the pain. However, there is not much research data about the other products I mentioned here. Yet, they get a lot of demand. I can vouch as I used to work in a custom packaging company.
There are also other products that are only marketing ploys that do not seem to have any benefit at all. In this category, you will find CBD blankets, bedding, etc. The hemp plant is not new to people and has been used over centuries for its fibers to make clothes and paper. Yet, there hasn’t been any single mention of people getting benefits of CBD from these products.
So, there are all types of CBD products in the market, and surely there are many customers who buy them as well.
What to Expect in the Future?
In the upcoming years, it is expected that conditions are going to be really good. Cannabis products are now legal in many countries and different states of the USA. Other hurdles in the way of research are also going to be greatly reduced. Therefore, the conditions are going to be optimum for further studies. And these studies will unearth many other qualities of these products. So, we might see more FDA approved CBD medications and other products that actually work. The customers will also know what benefits they are getting with a product and what they are not getting.