CBD oil has the potential to revolutionize modern medicine. It is being tested for a whole host of benefits, from treating acne to fighting against serious diseases like cancer and chronic illness. Currently, the FDA has only approved CBD oil for treating a rare form of epilepsy.
However, due to the Farm Bill, CBD has been made legal at the federal level, so it may not be long until state law will follow suit. CBD oil is going to affect far more sectors than just medicine though.
In fact, it’s going to change the way you think about everything. There are many potential uses for CBD oil, meaning that there are a variety of industries that are going to feel its impact. This article is going to show you 4 scenarios that will stop you in your tracks and rethink what you’ve been told about medical marijuana.
1. CBD Oil Promotes Business
First of all, CBD oil is going to change the way you think about business. Traditionally, banks will not go anywhere near companies that provide funding through loans or bank accounts associated with the cannabis industry (due to legal reasons).
This has seen a rise in smaller lenders and credit unions fill in the gaps and provide CBD businesses with cash to grow their product and their business. In fact, it’s been reported that more than 400 credit unions and local banks have taken on cannabis-related clients since 2014.
For example, Severn Bancorp is a bank based in Maryland that provides this service. In exchange, they charge cannabis companies very large fees for opening and maintaining an account. And with these new businesses come new jobs. After all, job creation is essential for a growing population and CBD oil can contribute.
One area that will benefit greatly is the legal sector. Cannabis lawyers are trending in the US right now due to the fact that the law can still be interpreted one way or another depending on your location. Therefore, the job of a cannabis lawyer is to ensure consumers can use CBD oil legally and businesses can operate in line with the law,
2. Food And Drink Companies Want CBD Oil
You’ve probably heard about pot brownies before. But what you probably didn’t know is that there are lots of food and drink companies that want to use CBD oil too. For example, Dixie Elixirs produce truffles and other treats infused with marijuana, with other companies following suit, including high-end chocolate company Defonce Chocolatier.
According to research conducted by IWSR, more people are consuming products that contain both alcohol and cannabis. With fewer people drinking alcohol than ever before, breweries, wineries and spirit companies are looking at cannabis-based drinks.
For example, in the UK, a company called Diageo, responsible for producing popular brands such as Smirnoff Vodka and Guinness, are in talks with Canadian cannabis companies to create a drink together. AB InBev has already taken the leap, joining up with Tilray in a deal with $100 million.
Producers of alcoholic beverages also often offer non-alcoholic alternatives so consumers can enjoy their drink without coming into contact with the drug. They will also do the same for their CBD oil-infused drinks along with other soft drink producers. This sector alone is expected to be worth $600 million by 2022. It has been reported that Coca Cola is in talks to roll out a CBD-infused beverage so watch this space.
3. CBD Oil Is Popular In Beauty And Retail
CBD oil has gathered a lot of attention in the beauty industry. While it can help relieve pain due to its anti-inflammatory properties, it also has antioxidants to help with clearing acne and breakouts. Don’t be surprised to see it used by large manufacturers. While face creams are a natural fit for CBD, it could even spread into areas such as mascara and lip balm.
For example, Sephora, a large retail company, is selling a wide range of products that contain CBD. These items are sometimes referred to as ‘beauty and bong’. Lord Jones also makes CBD body lotion to help treat skin conditions such as eczema. And it seems to already have some merit.
Actress Melissa McCarthy claims that she used CBD oil over her feet before the Oscars, while other celebrities including Katy Perry are using Lord Jones’ CBD lotion before walking across the red carpet. Legalization of CBD will see more and more products like these hit the shelves of online stores too.
Most retailers right now only deal in cash and brick-and-mortar stores so it’s only a matter of time before e-commerce becomes a major player in the CBD oil industry. Companies are already preparing for it.
For example, the European company MeadowLife allows consumers to access and purchase CBD oil online. When e-commerce becomes the norm in the US, expect CBD retailers to scale faster and grow exponentially; more people can get access and have it shipped directly to their door.
4. CBD Oil Can Be Used To Treat Serious Illnesses
This is probably the main reason why CBD oil will change the way you think about everything. The National Cancer Institute has reviewed a number of studies into this area and while there have been mixed results, there is promising potential that it can be used for treating cancer.
While there also exists some research that connects cannabis and carcinogens chemicals, there is no conclusive direct link between the intake of marijuana and cancer. Furthermore, ingesting CBD does not leave the body at risk to the same carcinogens as marijuana.
In the present day, there are yet to be any large clinical trials that are testing if cannabinoids can be used as a definitive cancer treatment. All the studies that have been taken thus far are in small samples.
There are so many industries that CBD oil will impact. It’s being integrated into society more and more every year. It’s just a matter of when, rather than if, you will change your mind about it.
This article is contributed by Marina Turea @ Digital Authority Partners
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