Where Does the CBD Industry Currently Stand?
If you've even glanced at a blog, magazine, or news channel lately, you've probably seen some of the CBD-related headlines that have been popping up.
It seems that everywhere you turn, people are talking about the medical benefits of cannabidiol (CBD) – a cannabinoid that can be extracted from the cannabis or hemp plant.
With all of this attention being directed towards the development and growth of this exciting new field of medicinal research, one has to wonder just how big and profitable the CBD industry will become. Here's a quick round-up that will give you a solid overview of where the market is currently and what it might become in the near future:
Investors Everywhere Are Getting In On The Wave
In case you haven't noticed, cannabis and CBD-related companies are now openly traded on the stock market, and CBD stocks are slowly but surely becoming a common investment.
The intense growth of the industry makes it a very appealing prospect for investors who are looking for potentially disruptive innovations that will become the “next big thing” – CBD certainly seems to check all of the boxes for that.
The fact that CBD can be extracted from hemp and therefore doesn't require the growth of medical-grade business means that it's a more appealing investment than other related products, simply because hemp wholesale is cheaper than cannabis.
The CBD Market Is Quickly Approaching $22 Billion Globally
Did you know that the overall value of the CBD market is expected to reach $22 billion by 2022? What's even more exciting is that it could double or triple in the next decade. By 2030, the industry could very well exceed $50 billion. Very few industries can boast that kind of size, and yet CBD is still in its infancy in terms of being a widely regulated and known about product.
Much of this value comes in the form of huge companies that have invested absurd sums of money in attempts to position themselves as the leaders of a burgeoning sector that has mostly been left as a small cottage industry until recently.
Amazing Medical Effects Are Making It A Consumer Favorite Everywhere
Not too long ago, CBD products were mostly part of a niche industry that was mainly only accepted in states where medical cannabis was legal. While more than half the states in the U.S. now have laws or are in the process of voting on laws that allow the use of medical cannabis, the CBD industry doesn't have to wait on such legislation to continue growing because it is already legal everywhere.
You can buy CBD oil online in any state without having to worry about facing any legal repercussions. It's important to mention this aspect of the industry's current status because many people are still unaware that CBD is already so accepted and available worldwide.
CBD Is Being Viewed As A Treatment For Opiate Addiction
You may know that CBD has effects that make it a suitable alternative to using opiates for conditions related to chronic pain. However, not only is this cannabinoid an alternative, it also has addiction-breaking properties that make it a bonafide treatment for opiate and heroin addicts.
Of course, every businessperson knows that the biggest solutions wind up becoming the biggest industries, and the opioid epidemic has quickly become one of the world's biggest problems.
As the families and friends of addicts continue to discover CBD's ability to treat addiction, it's possible that this medicine could spark an industry that single-handedly solves or mitigates the opiate addiction problem. In fact, it's likely that the establishment of CBD-based rehab centers may become a whole new sector in and of itself.