If you look back at the last few years, one of the things that has dominated headlines is CBD. With the increasing legalization of this cannabinoid and popularity of its benefits, people are openly accepting CBD nowadays. All of it has sparked a lucrative industry that every investor has their eyes on. Are you planning to invest in CBD products and wonder if it is a good decision? Read on and find out why you must invest in CBD products in 2020.
What is CBD?
The cannabis plant contains different chemical compounds called cannabinoids. There are over one hundred of these compounds, but CBD, or Cannabidiol, is the most prominent. It is a non-psychoactive compound that will not induce a mind-altering high. According to recent research surrounding CBD, its therapeutic properties may help with many physical and mental ailments. The manufacturers use an extraction process to get pure CBD from the cannabis or hemp plants.
Why should you invest in CBD products in 2020?Being a cannabis byproduct, CBD has been in the grey area for too long. A lot of people might be sceptical about investing in and using CBD products. If you’re still wondering about investing in CBD products, here are some reasons that might help you:
1. CBD is getting legalized:
There have been significant changes in the rules and regulations over the last few decades. But it was only in 2018 that the CBD industry got legal status. The US government passed the Hemp Farm Bill that makes hemp-extracted CBD legal. Hemp is a subspecies of cannabis that goes into the making of textiles, medicines, and even animal feed. The hemp plants are entirely free of THC or tetrahydrocannabinol, a psychoactive cannabinoid that gives the infamous high effect.
Takeaway: Manufacturers can use hemp to extract CBD to make different products. It is now legal to use and trade CBD products in the US that contain 0.3% THC or less.
2. Popularity is increasing
Gone are the times when people used to frown upon the idea of using products related to the cannabis plant. In the last few years, CBD has become a household name. With the initiatives of the government and increasing evidence about CBD coming to light, more and more people are using this cannabinoid. The therapeutic properties of CBD may improve their lives. Takeaway: If you think the CBD industry has reached its peak, you are mistaken. The market still has potential to grow and the popularity is only going to rise in the coming years.
3. It is safe to usePeople have made plenty of health claims about CBD, but the biggest hindrance was the lack of evidence. For years doctors and researchers all around the globe have been trying to prove the medicinal properties of CBD. But it was not until some years ago that we got concrete evidence. The World Health Organisation, or WHO, released a report in 2017 that stated that CBD is safe for human use. The human body can tolerate CBD if given in limited quantities. Besides that, the Food and Drug Authority, or FDA, approved the CBD based medicine Epidiolex. This liquid formula may help people suffering from Dravet Syndrome and Lennox-Gastaut Syndrome. Takeaway: The approval given to CBD and CBD-based products like cbd gummies Canada by reputed organisations have increased people's faith in the industry.
4. More affordable than everWhen CBD first came to the market, the prices of the products were exorbitant due to low demand. It wasn’t possible for everyone to get their hands on them, even if they really needed it. With the increasing popularity and evidence surrounding CBD, the demand grew, and manufacturers were able to reduce their prices substantially. They also offer a diverse range of products, varying from isolate, oil, edibles and skincare topicals, and much more. The products also come in varying sizes to ensure you can find the right product that fits your pocket. Takeaway: CBD has become accessible to everyone. You can access CBD products from any local dispensary, or visit an online store for potential discounts.
5. Increasing dependence of other industriesSuch is the reach of CBD that more and more business owners are trying to reap its benefits. The cannabis industry has been using CBD as an active ingredient for years. But now, precursors of the industries like wellness, fitness, food and beverage, and cosmetics are launching CBD based products. You can find an alternative line of CBD-based products like medicines, candies, coffee, body lotions, or other cosmetic products. Takeaway: The co-dependence of the industries makes CBD industry more lucrative. An increasing number of corporations are venturing into CBD to enjoy the hype around it.
6. Impact of influencersWe live in an age where social media dominates. Be it business or leisure, social media platforms are the most popular way to connect with the right people. Social media celebrities, or influencers as people call them, are always on the search for buzz-worthy topics. The CBD craze has become the latest promotional strategy used by influencers. They base their content around CBD and CBD products that piques the interest of their audience. Their reviews and experiences can influence them to buy and use products. Takeaway: Social media has become a platform that adds to the popularity of CBD and pushes sales through the roof. Influencers can also create hype around their handle and benefit from it.
7. The industry is becoming more and more transparent:A major drawback of the CBD industry has been a lack of transparency. At first, there were only a few regulations that manufacturers had to adhere to. Many manufacturers were not representing the accurate information about the contents of their products. The government then introduced stricter rules and transparency. Now, manufacturers even pass their products through third-party tests to ascertain the contents and purity of CBD. Besides that, the increasing transparency has instilled the faith of people in the cannabinoid. Takeaway: The transparency that is now maintained by the manufacturers has revolutionized the industry. It has reaffirmed people’s faith in the CBD industry and has helped them make it a part of their lives. High-grade CBD products are now readily available in local stores and online dispensaries.
Final ThoughtsFor centuries, people have been using cannabis for its medicinal properties. While the products and methods of using CBD have changed over the years, its benefits remain the same. With the introduction of new laws and the wave of legalization taking over the entire world, the industry has been experiencing a boom during the last few years. The popularity of the cannabinoid and its usage is only going to grow in the coming future, and it wouldn’t be wrong to say the CBD industry will soar ‘high’ in 2020. If you have plans to invest in CBD or CBD products, now is the right time.