As a business professional, you may be wondering: why is CBD so popular? From the outside looking in, CBD could be viewed as a temporary health trend—one that starts big but fizzles out quickly. But, cannabidiol (CBD) is different. The hemp-extracted product is starting to gain significant traction amongst consumers across all countries, segments, and demographics because of its increased accessibility, portability, and variety of uses. As legalization around cannabis products becomes more and more substantial, CBD may see itself becoming much more than just a fad; it may become a multi-billion dollar industry. Rather than waiting for CBD securities to become too expensive, investors should maximize their wallets and consider entering the CBD market today. If you live by the mantra ‘buy low, sell high,’ now is definitely the time to buy low.
Why Users Are So Adamant About CBD Benefits
One of the main reasons why CBD oil has taken off in the last few years is because it has become the face of many wellness initiatives. CBD users strongly believe that cannabidiols provide a wide variety of benefits that target physical and mental ailments. Some swear by its use in treating anxiety and depression, others by its use as a metabolism regulator and pain reliever. According to the Cannabis Industry Journal, officials estimate that up to 8 million people in the UK use cannabidiols for their intended wellness benefits.
CBD has become so popular that some restaurants have even integrated it into some of their menu items. Farmacy, the plant-based restaurant out of London, offers its clientele CBD-infused vodka and CBD truffles, as well as a few CBD tea options. As trendy as this appears, it demonstrates CBD’s growing popularity in industries outside of general wellness. This is part of what makes CBD’s claim as a long-term industry so compelling, especially when you factor in its growing use and approval in the medical community.
Growing Interest in Medical Applications
One of the greatest barriers to CBD’s journey for widespread acceptance is its lack of scientific research. Until recently, very few studies had been conducted. Some scientists back in 2017 commented on the short stack of credible CBD studies that were available at the time. Now, just a few years later, the amount of research being conducted on CBD and its health effects has skyrocketed. The positive results that have come back have been a huge driver for the recent surge in cannabidiol demand.
Not only do some of these results suggest positive health effects, but they also highlight a general lack of side effects. While further testing is still needed, many international health groups have already come out in support of CBD as a safe and consumable product. For instance, the United Nations’ World Health Organization (WHO) officially endorsed the Expert Committee on Drug Dependence (ECDD) initiative to update cannabis’s medical status. As of December 2020, the WHO publicly recognizes cannabis as a global medicine. Considering CBD is just a minor constituent of cannabis, this is yet another huge step towards global acceptance of CBD products.
CBD as Medicine
The majority of health effects recorded in these studies have been quite positive and demonstrate a serious amount of potential for further medical use. Professor of Psychiatry and Cognitive Neuroscience at King’s College London, Philip McGuire, has been studying the effects of cannabidiol for over 15 years. Due to his interest in human psychosis, McGuire has examined the effects of cannabidiol on human brain function—even those with no significant history of mental illness. One of the most notable results was CBD’s efficacy in reducing psychotic symptoms. While McGuire acknowledges the need for greater testing, he believes that the clinical results demonstrate a meaningful reduction of psychotic symptoms.
Those living with severe mental illness typically have a much shorter life-expectancy given the strain of their condition. This could be anywhere from 10 to 25 fewer years of life. Being able to reduce the symptoms of psychosis, as Professor McGuire points out, could help increase the life expectancy of thousands of individuals. If CBD does prove to help treat the symptoms of those with serious mental illness, then the CBD could see dramatic and unparalleled amounts of growth.
Medicine is one of the most reliably profitable global industries. In the UK alone, pharmaceutical sales totaled more than $20 billion in 2018. If CBD finds itself as a legitimate medical solution, it could see significant long-term growth that could drive the worldwide hemp market to even greater heights. As a matter of fact, CBD is already seeing use as a component of a prescribable drug known as Epidiolex.
Existing Use as Prescribed Medicine
In 2018, the FDA approved the first-ever drug to be derived from an active marijuana ingredient, Epidiolex. This drug is a CBD oil that contains less than 1% THC. Why this drug is so special is that it reduces the symptoms of epilepsy, a condition that is historically uncontrollable. It is often recommended for patients with severe epilepsy like Lennox-Gastaut syndrome. This was made more incredible by CBD’s current track record for producing almost no major unwanted side effects. The WHO’s 2018 Critical Review Report on CBD reaffirms the minimal lack of psychoactive and cardiovascular side effects that scientists have been able to observe so far. If CBD continues to test safe and effective, the market could have huge economic implications.
Based on CBD’s current popularity as a wellness supplement and growing evidence as a medical alternative, experts believe that the cannabidiol market will exceed $3 billion in total value by the end of the decade. A market study published by Growth Market Reports projects the CBD market to reach a $3.42 billion valuation by 2027. That would be the year-over-year growth of the industry at about 30% and be ten times greater than the market’s evaluation back in 2019.
CBD is still a relatively nascent industry based on the market’s promising projections. For that reason, investing in CBD manufacturing and cultivation is an excellent idea if you believe in buying low and selling high. But to extract as great a benefit as possible, it makes sense to partner with an already established CBD processing corporation that is only building on its success. With CanX, you can guarantee high-quality products and higher-quality service. Our expertise as a global leader in cannabis extraction, biomass cultivation, and wholesale manufacturing makes us a vertically-integrated powerhouse. To learn more about our story and what we offer, contact us today.