Given the popularity of recreational marijuana, market experts have been trying to predict the financial potential of the cannabis industry for years. But what almost no reports predicted was the boom of the CBD market. According to a new estimate from the Brightfield Group (cannabis industry analysts), the CBD market alone could reach $22 billion by 2022. This far surpasses the former predicted potential of the cannabis market at large.
So, what is CBD? CBD is the abbreviation used to describe cannabidiol. It’s a non-psychoactive component found in the cannabis plant. It does not contain any tetrahydrocannabinol, otherwise known as THC (the chemical compound that gives weed its reputation for inducing a “high”). Recent research has demonstrated that CBD may have a number of therapeutic abilities. Knowing now that there’s a lack of THC content within CBD has dramatically reduced the barriers for making it. Here are a few ways CBD can help improve your life.
CBD as an Effective Pain Reliever
Recent studies have investigated whether CBD has real pain-relieving potential. The results so far have indicated that it does for some individuals. How? Studies are still investigating the mechanism, but some research has shown that CBD may help individuals cope with chronic pain by interacting with endocannabinoids (neurotransmitters that bind to cannabinoid receptors in your nervous system). These neurotransmitters are part of a system in the body aptly called the endocannabinoid system (ECS), which helps regulate sleep, appetite, pain and immune response. Current studies on rats have shown that CBD injections reduced pain response to surgical incisions, reduced nerve pain, and reduced inflammation. Even CBD oil for dogs is being released to help with pain relief!
CBD for Minimizing Anxiety and Depression
In addition to providing physiological pain relief, CBD could have mental health benefits, including the ability to help alleviate symptoms of anxiety and depression. This is a big deal, considering that (according to the WHO) depression is the single largest contributor to disability worldwide (anxiety disorders are ranked sixth). The potential effects found so far are attributed to CBD’s ability to influence the brain’s receptors for serotonin, a neurotransmitter that regulates mood and social behavior.
Chronic pain and common mental disorders like anxiety and depression are on the rise worldwide, which helps explain the massive uptick in production/sales of wholesale CBD. The market value in the last year alone rose over 200%, which is high considering that CBD production was technically illegal before the Farm Bill was passed in December 2018 (which distinguished hemp/CBD from marijuana, and legalized the production of CBD products with THC content lower than 0.3%).
So what does this mean for the future? The CBD market will likely continue to rise. However, there is still one major barrier in place–the FDA has made it illegal for CBD manufacturers to make any health-related claims. As more research is conducted and more conclusive evidence is released, we’ll likely see more and more products coming onto the market, along with an even more dramatic market growth trend. CBD can greatly improve your life and the lives of your loved ones. Its many health benefits could make it a vital resource in the health industry’s future.