Chances are you’ve already heard about CBD on the news or more likely on social media. Chances are you also know a few people who are passionate CBD advocates and praise its many health benefits. Unless you live in complete isolation, you really can’t escape the CBD-mania that’s been going on for quite a while now. But even though it’s a highly discussed subject, many people are still on the fence about it, not knowing what exactly to make of all this hype.
Shedding some light on CBD
To clear things up a bit, let’s start by explaining that CBD is not the same as THC. CBD is short for cannabidiol, one of the many cannabinoids found in the cannabis plant, alongside THC. But while THC is responsible for the high effect, CBD has no psychoactive properties. Commercial CBD products contain zero or very little traces of THC. Therefore CBD products are completely legal.
Moving on to claims and research, there are mixed opinions on these aspects. Although several studies have confirmed CBD’s effectiveness in helping with various health conditions, the research in this field is relatively recent, and more studies on humans need to be carried out to provide more precise answers on the matter. So far, CBD has been used successfully in treating seizures caused by severe forms of epilepsy in children, and the FDA has approved Epidiolex, a medicine containing CBD, to help with these health conditions. Other studies have shown that CBD can help with other issues such as chronic pain, anxiety, PTSD, or depression, so CBD trials look promising.
If you do a little research on the internet, you’ll find fantastic reviews from people who bought CBD oil online or other derived products. Although they can’t serve as scientific evidence, you can’t ignore the countless testimonies and about how CBD put an end to their lifelong struggles with chronic pain or helped them cure insomnia. These stories alone are enough to pique the curiosity of any person looking for a solution to similar problems and turn him into a potential buyer.
A promising market for startups
But leaving all the pros and cons aside, the fact is that CBD has turned into a booming industry, and many entrepreneurs have jumped on the CBD bandwagon trying to take advantage of the many profitable business opportunities it offers. The figures provided by Centre for Medicinal Cannabis (CMC) show that in the UK, there are 1.3 million people who spend 300 million pounds each year on CBD products, and things are going to get even more significant soon. By 2025, the market will skyrocket to a value of almost one billion pounds. Last year, the CBD market in the US registered an astonishing growth of over 700%. So, it’s no wonder that new CBD business startups are popping up everywhere.
The fact that there’s an increasing pressure to legalize cannabis for medicinal purposes around the world is also making the prospect of opening a CBD business even more tempting. It’s been reported that 91% of Americans support the legalization of cannabis for medicinal and recreational use. Besides, entrepreneurs can rest assured that this is no fleeting trend driven by younger generations. The rising trend in CBD product sales is also supported by older generations who see in CBD a potential treatment for the various health conditions associated with their age group.
CBD attracts younger people due to its ability to alleviate problems such as anxiety or stress, while the elderly seek it for its pain-reducing properties. This means there’s a broad demographic of people who are willing to give CBD products a try, and since most people report significant improvement after the first use, there’s a constant demand for CBD at all times.
It can’t be denied that there’s still a stigma surrounding cannabis and everything related to it, but things are starting to change. CBD awareness has dramatically improved in recent years, and the misconceptions are slowly but surely starting to fade away. In the future, people will become even more educated on the subject. As CBD products will be better regulated, consumers’ trust will grow exponentially, leading to the continuous growth of the industry.
CBD can be used in a variety of ways, so entrepreneurs have more than one option when it comes to establishing a CBD business. Here are some of the most popular ways to enter the CBD business market:
CBD Supplements and medication
The first things that come to mind when thinking about CBD benefits are health supplements and medicine. As mentioned previously, the existing research has already proved that CBD is useful for many different health issues, and scientists are optimistic about its potential as an alternative treatment. On the CBD supplements market, the most popular products are CBD oils and tinctures. People choose them because they are easy to consume, they offer various health benefits, and unlike traditional medication, the side effects are negligible.
It might come as a surprise, but CBD edibles are also on the rise. CBD can be added to all sorts of foods and beverages, and people love the idea of enjoying their favorite food products with a dash of CBD in it. As consumers are growing more aware of the importance of having a healthy diet, it makes sense to take advantage of CBD benefits with every meal. So, more and more health and wellness businesses are using CBD oil as the star ingredient in foods such as smoothies, salads, baked goods, etc.
CBD beauty products
Let’s not forget about the beauty industry. Since CBD oil works as an anti-inflammatory, and it also has excellent antioxidant properties, the beauty industry couldn’t pass on the opportunity to use it in various skincare products. So CBD skincare treatments are all the rage right now on the beauty market, and consumers are more than eager to include CBD beauty products into their daily routines.