Retail sales of the breakthrough cannabis product CBD, also called hemp oil, and often jokingly referred to as diet weed. Are now estimated to reach an astonishing $16 billion dollars by 2025.
This remarkable explosion of sales in this relatively new and unexplored industry has led to a flurry of new CBD oil start-up companies coming to market. Some of which have set the medical marijuana and recreational marijuana marketplace on fire. Companies like Charlottes Web, CBD MD, Green Roads, Blue Moon Hemp, and Pure Clear Hemp have all had tremendous success in the retail CBD sales space. The only problem for them is growing hemp is very inefficient and expensive. So there is currently a national hemp shortage from all the new retail sales and demand for CBD. American farmers are now scrambling to take advantage of the new cash crop opportunity. But it will take some time for them to get up, running, and producing enough green gold, to feed all hungry masses looking for a light alternative to the super-powered marijuana of our day.
CNBC describes CBD or cannabidiol the active ingredient in the new hemp craze as “Hollywood’s new favorite beauty product. It’s the superfood du jour. Demand for CBD is so strong that companies are scrambling to infuse their products with it.” Which is a pretty accurate description of the current CBD marketplace. Which has steadily been growing since Congress legalized industrial hemp back in December. Effectively baptizing the national CBD movement with their seal of official government approval. CBD is short for cannabidiol it’s product’s active ingredient. A compound that’s found in the cannabis plant and delivers the calming effects of marijuana with a much lighter high than traditional THC heavy marijuana does. CBD products now enjoy a national green light that even traditional marijuana products or THC products are still yet to achieve. Which means the CBD economic marketplace is insanely bigger than the marijuana market place opportunity currently and for the rest of the foreseeable future.
The fact that new lighter marijuana is now hitting the marketplace with the backing of the windbags on Capitol Hill. Has lead CBD sales to shoot up to over a billion dollars in just last year alone. The sales were mostly driven by start-up companies who offer a plethora of CBD infused products like CBD gummy bears, CBD tinctures, CBD soft gels, and even CBD drinks. All these exciting products have to lead to an explosion of CBD sales nationally. Yet, Industrial hemp produces such small amounts of CBD that growing it and harvesting it to extract the molecule is still incredibly expensive. As this industry expands it is likely that new scientific improvements will allow them to produce more CBD in an easier fashion. But since the industry is so new everyone has their own methods for growing CBD. Most based more on personal religion or growing style than any real scaleable science. As the industry grows the science of growing CBD will surely be mapped and standardized as well. But for now, it is still very much the Wild West of CBD. Which is one very important reason to ask for and check the testing results of any CBD product you are buying and or ingesting.
This explosion of CBD sales and products into the marijuana marketplace is going to drive the price of hemp flowers and CBD Isolate through the roof for all of the foreseeable future. This means there where will be a war for CBD raw product behind the scenes that will continue to make the price of CBD products, especially CBD isolate products, higher than some will like. However, let’s remember it is still exciting times as the marijuana industry expands to include these lighter products that are not only legal in 50 states for recreation. But, that also may have medical benefits for some patients. As the studies continue we will hopefully be able to pinpoint what CBD can actually help patients with if anything. As well as brings the price of CBD products down for recreational CBD users. If you are looking to get into the medical marijuana or recreational marijuana business than becoming a grower of perfectly legal CBD or hemp plants may be a great opportunity that you can look into. Remember when your parents said money doesn’t grow on trees? well they were right. It grows on plants!!! Thanks for reading and please stop by and check out the CBDipedia superstore if you are interested in some of the best shopping for CBD products that the internet has to offer!