The Cannabis Industry Is Becoming the CBD Wellness Industry
Last year, it looked like 2018 would see an explosion in the availability of CBD wellness products. With big retailers such as Neiman Marcus and Sephora starting to offer CBD-infused items, that certainly seems to have happened.
It’s increasingly clear that the biggest market for cannabis is not people looking for a buzz. Rather, its people looking for a safe, effective source for better health and wellbeing. Or, as the New Yorker called it, “optimizing personal experience” and a “new path to sublime good health.”
The first signs of the surge in the wellness industry came from California, where marijuana has been legal for medical purposes since the 1990s. Cannabis businesses have made use of cannabidiols – better known as CBD – in products ranging from oils that promote healthier skin to hemp-infused coffee that leaves you calm yet focused.
Now, the CBD wave is spreading across the country, offering millions access to CBD wellness products.
CBD Wellness Products
CBD products are derived from hemp, which means they have just a trace of THC, the chemical ingredient in marijuana that causes the high. That means you can use these products, get the health benefits and go on about your day.
What conditions can CBD treat? While research is restricted in the United States because marijuana remains illegal, what has been done shows great promise.
For example, a publication of the Harvard Medical School reported last year that “CBD is commonly used to address anxiety” and that studies suggest CBD can help patients with insomnia.
They also noted that a European study found CBD applied to the skin helped reduce the pain and inflammation of arthritis in animal subjects, while another showed it could inhibit inflammatory and neuropathic pain.
Notably, the federal Food and Drug Administration last year approved a CBD drug (Epidiolex) that can help those with specific types of epilepsy. It was the first CBD product approved by the FDA. Congress also passed a Farm Bill in late 2018 that allows farmers to grow and sell hemp.
This all but ensures more CBD wellness products are on the way.
Sign of the Times
A recent example are CBD oils from Candy Heads, which it announced in a news release in February 2019. Ian Gilley, co-founder of the Rhode Island-based company, said the CBD-infused edibles were created to help his son deal with anxiety. The company now is selling the products to help the “40 million adults who suffer from anxiety in the United States.”
That’s just one example among many. CBD wellness products are now available in many products. They include oils, lotions, bath scrubs, edibles, lip balm and bottled water. There are even dog treats available to reduce the anxiety of man’s best friend.
How far will all of this go? Cannabis research firm Greenwave Advisors projects a $3 billion market for CBD by 2021 – and a staggering $200 billion “eventually in the U.S.,” according to USA Today.