The legalization of cannabis throughout the US has made CBD products quite popular. CBD is a non-psychoactive compound that helps relax the body without altering the mind. It can be extracted from both the marijuana plant and hemp plant and has been known to be of great medicinal value.
Marijuana Rules and Regulations
Since marijuana is still is illegal in several states, a legal purchase is possible only through authorized medical practitioners, while in the legal states there are local marijuana shops which make it more convenient for the daily user.
The demand for CBD has seen a hike especially due to its medical benefits like arthritis pain relief, curing eating disorders, and helping in chemotherapy treatment. It also helps in as acting as an acting stimulant for adult couples. CBD is now also being used in beauty products as well.
CBD has been in a spotlight for quite some time now. CBD has become a fast-growing product with millions of sales across the world. The sales do not seem to stop growing either. Sales are projected to go over $1.3 billion by 2022. The increasing market size and the expanding industry has been luring in several companies. But, one needs to be careful with this ever-increasing sales value as it would attract higher tax charges.
Another concern is the use of Cannabidiol in the manufacturing of beauty products- which are considered to be illegal. That means, the sales figure so mentioned is exclusive of sale of CBD infused beauty products. Once CBD gains complete legality, these figures would also be easily accounted for.
The sales figures are enough motivation for making an investment in the CBD industry, provided that the risks and threats that the industry carries along are well kept in mind.