CBD has seen a marked increase in popularity not only in America but around the world over the past couple of years. In fact, there is a lot of evidence online that suggests that it is still growing and set to explode over the next few years.
The rise in popularity of CBD and the inclusion of it in many different healthcare products these days can be linked directly to anecdotal accounts from users, as well as research evidence that suggests it is beneficial for a myriad of different health issues. From helping with chronic pain and symptoms associated with epilepsy, to improving the overall health and wellbeing of patients, it seems that a lot is pegged on CBD as an alternative health remedy.
While there is a lot less conclusive evidence around specific health issues, CBD is still making waves in the health industry. The growth of hemp and cannabis plants for CBD has also been affected by state legalization of medical marijuana and the federal legalization of industrial hemp. That’s not to mention the market for dogs, cats and pets.
The vast majority of evidence and statistics come from America, where consumer sales have increased in the past four years, from over 100 million to 500 million. While the legal stance of CBD is questionable in other countries, it is still popular in regions like Africa, the Middle East, and Europe.
Of course, the internet has made it incredibly easy for people to get their hands on CBD products, which, of course, drives a quicker growth in the market. Research suggests that over 60% of CBD sales are done online.
The biggest divide in the market right now is CBD that has been derived from cannabis and CBD that has been derived from hemp. While the hemp market is, for the most part, bigger, the cannabis market isn’t too far behind, and while CBD derived from cannabis is mostly illegal around the world, this could very well change at some point in the future.
Interestingly, though, American states where marijuana is legal have moved more toward CBD derived from cannabis, than from hemp.
One of the biggest concerns for the CBD market right now is the vast number of suppliers and manufacturers emerging onto the market. This is because the CBD industry is mostly unregulated, especially where hemp is considered nothing more than a nutritional supplement. This means that standards can vary hugely from brand to brand.
CBD is expected to grow substantially towards the end of the next decade. While there is some compelling research out there that indicates CBD has many different health benefits, we’re still in the early stages of proven results. This means that a lot more work needs to be done to discover just what CBD is truly capable of.
However, this hasn’t prevented the CBD industry from growing – and it’s showing no signs of slowing down, or even just plateauing.
