If you use the internet or go outside, you have probably seen some advertisement or information regarding CBD. They call it the miracle drug and the wonder substance, but is there any truth to this?
CBD or cannabidiol is potentially one of the more exciting substances of the current day. Made from either cannabis or hemp, CBD can be put into just about anything. You’ll find it in everything from tinctures to dummies and even body lotion. With all of these products promising different reliefs and benefits, scientists are just beginning to tap into the potential of cannabidiol.
What is CBD and What Does Science Say About it?
Cannabidiol or more commonly referred to as CBD is a chemical component of the marijuana and hemp plant. The substance known as a cannabinoid, is found amongst hundreds of other cannabinoids that we still know little about. For those who don’t like getting intoxicated from cannabis, CBD is non-psychoactive which means that it effectively does not get the user high whatsoever. Although some studies have shown that the substance works most effectively when combined with a small amount of THC, it is not fully necessary.
CBD has been known to treat a large range of ailments. The substance has shown itself to be a valid treatment to everything from pain, anxiety, opioid addiction, arthritis, certain types of cancer, seizure conditions and more. With all of this potential, it seems nonsensical that we would not be exploring it more. Studies have also shown that the substance contains several anti-inflammatory properties.
CBD has become used in the pharmaceutical industry as of recent. In the past few years, we have seen the U.S. FDA or Food and Drug Administration, begin to allow the use of CBD in certain pharmaceutical drugs most commonly used to treat seizures and nausea respectively.
CBD and the Farm Bill
One of the biggest updates to CBD usage has been the advent of the Farm Bill in the U.S. Only a few months ago, the federal government voted to legalize the growth and production of industrial hemp. Given that hemp can be used to produce CBD, it seems as though this has perfectly coincided with the growth of the market.
Some studies have shown that the retail amount of CBD sales from 2018 came up to as much as $2 billion. Studies have also shown that the industry could be worth as much as $15 billion in the next five years. Additionally, Europe reported around $320 million in CBD sales during the 2018 year.
All of this just goes to show that CBD is only just beginning to take over various world markets. With so much potential regarding the substance, it seems only fair that laws would continue to go into place around the world to allow its use and production.
For now, it seems as though we are well on the way to reaching future projections for the industry overall, but only time can tell how much success the market will be able to see.