The legal cannabis industry continues to explode as the new "Green Rush" despite a tug-of-war in Washington D.C. But there is a sector of the cannabis industry that is barely tapped, totally legal and expected to grow 6-10x by 2020.
Cannabidiol or CBD as it's more well known, had market of $300 million in 2017 & The Hemp Business Journal has estimated that the CBD market could reach $2.1 billion by the year 2020, with $450 million coming from hemp based-sources.
“The CBD Report is the culmination of more than a year of focused market research,” said Hemp Business Journal founder and publisher, Sean Murphy. “We’ve been to Israel, Europe, Canada and to farms, labs and retailers across the U.S. to cover the hemp industry. By analyzing consumer sales in the hemp and marijuana industries, we’ve provided the first view to investors, executives and regulators on what’s really happening with CBD, the hottest category in the broader multi-billion dollar cannabis industry.”
What makes CBD so appealing for medical patients, as well as investors, is that it doesn’t actually get its users “high,” like a traditional cannabis plant. CBD or cannabidiol, is the non-psychoactive component of cannabis. Most forms of CBD-based drugs contain little to no THC, the component known for its psychoactive effects. Due to its harmless nature, CBD legalization has been ramping up in recent years.
One of the most amazing attributes of CBD is it's ability to be a major anti-inflammatory, but it has also shown benefits for people who have seizures, pain, anxiety & reduce fatigue. CBD comes in many forms these days, regular oil, capsules, gummy bears, chocolate bars, salves, tinctures & even water! But be careful - many products sold are nothing more than "hemp oil" - which is good for you, but is not the concentrated CBD oil that most people are truly searching for.
We are still in the very early stages of the CBD industry and anyone can partake in it. Usually growers will need to be licensed from the state they wish to grow in, but anyone can open an online shop or sell various CBD products in their brick & mortar stores or even out of their home NOW.
As many know, most Ohioian's were left out of the new Ohio Medical Marijuana licensed industry - but they all still have an opportunity to jump in on the Green Rush by being able to start their own business by buying high quality CBD products.
Despite all the uncertainty surrounding the U.S. hemp market, entrepreneurs and policymakers are pushing ahead – clearly bullish about the industry’s future.
A great way to get started in the CBD industry is with Kannaway as a Brand Abassador. They produce some of the highest quality, triple lab tested CBD that is 50 state legal! More info can be found out about that here: Kannaway CBD
Posted from my blog with SteemPress : http://www.ohiocannabis.com/cbd-market-will-grow-to-2-1-billion-by-2020/