Cannabidiol (CBD) is the cousin of marijuana that’s making huge waves in the health and wellness market. Unlike marijuana and THC, which will get you “high,” CBD lets you keep your wits about you while offering a variety of health and wellness benefits.
And it’s really taken off in the world of wellness. The Hemp Business Journal expects CBD to be worth $22.1 billion in consumer sales by the year 2020. Based on 2016 numbers, that’s an increase of 700 percent.
CBD is becoming a huge business—one that savvy entrepreneurs and investors will keep their eyes on this year. If you’re unfamiliar with the market, consider these five major reasons that it will become one of the biggest businesses in health.
1. It Actually Works For Treating Mental And Physical Health Problems
Before getting into some of the social, political, and economic factors that contribute to CBD’s popularity, it’s important to look at the cold, hard facts: CBD works. It’s not a health fad that will go out of style in a few years because clinical and consumer reports reveal time and time again that some of the most common mental and physical health concerns can be helped with CBD.
CBD can be taken daily in a variety of forms, such as Mood CBD’s CBD capsules. There are also gummies, oils, lotions, tinctures, soft gels, vape juice, and beverages so individuals in need of regular health improvements can enjoy the benefits in any form. Here are some of the most common uses:
- Pain Relief: CBD dulls the receptors aimed at the body’s endocannabinoid system. As a result, pain signals that are typically sent to the brain send weaker signals or don’t send them at all.
- Decreased Inflammation: The endocannabinoid system is also responsible for sending pain-responses to the brain, such as the order to inflame the area around an injury. The interception of these signals prevents inflammation, allowing for pain relief and faster recovery times.
- Epilepsy Treatment: The first ever CBD-based drug, Epidolex, is used to reduce the severity and frequency of seizures in epilepsy treatment for both adults and children. It reduced seizures by a margin of 36 percent in clinical studies.
- Reduced Anxiety, Stress, and Depression: These three mental health conditions are the most common in the world. For some, the symptoms are chronic while, for others, they come and go. CBD is an excellent treatment for both long-term and short-term mental illnesses because it has minimal side effects and no addictive properties.
- Prevention of Serious Illnesses: Cancer, heart disease, high blood pressure, obesity, stroke, Alzheimer’s disease, and other serious illnesses have all shown positive treatment responses with CBD.
2. People Are Talking About It—A Lot
If you ask any marketer what the most effective form of advertisement is, they’ll all say word-of-mouth. More than 80 percent of consumers look for reviews and opinions before making a purchase, even if those reviews come from total strangers.
Because so many people are talking about CBD and what it’s done for them, the market is growing at an extreme pace. Social media platforms like Reddit, Facebook, and Instagram are full of comments relating to the benefits of CBD, even though their terms of service agreements don’t allow businesses to advertise CBD products. It turns out, CBD doesn’t need much physical or digital advertising because it’s already in high demand.
3. Laws Are Changing To Become More CBD Inclusive
CBD may have exploded in popularity in previous years, but the laws surrounding the substance have scared many consumers away. Misinformation surrounding CBD as a product has led many people, particularly legislatures, to believe that it’s in the same league with psychoactive drugs like marijuana.
As the walls around marijuana begin to break down, so do those around CBD. Pure CBD that’s low in THC is now legal in nearly all 50 states, and it won’t be long until it’s legal to sell it across the United States in marketplaces other than online. Once the laws around CBD become all-inclusive, customer acquisition and retention will soar.
4. CBD Users Are Throwing Out Their Prescription Medications
A 2018 survey from Brightfield Group and the CBD-using HelloMD community (150,000 members strong) showed that CBD may be more effective than some prescription medications. Survey participants were CBD users who said that they preferred CBD to treat common illnesses like insomnia, depression, anxiety, and joint pain.
In fact, nearly half of respondents said that they completely replaced their everyday medications with CBD. Some of the replaced medications listed included Tylenol, Vicodin, the sleep-aid Ambien, and a list of anti-anxiety and anti-depression medications.
Another 47 percent said that they used CBD as a supplement to aid the effectiveness of their current medications. Only three percent said that they felt CBD had no effect on their health problems.
As you can see, CBD is taking precedence in the pharmaceutical world. Those who use it regularly love the simple health benefits without the harsh, chemical side effects of man-made medications.
5. It Could Reduce Opioid Addiction Problems
In 2015, more than 20.5 million Americans 12 years old and over reported a substance use disorder. Unfortunately, prescription medications make up the most common gateway to opioid misuse, as the majority of those who become addicted start by taking the medication themselves or by getting it illegally through a friend or family member.
CBD has been shown to help reduce the need for these pain killers. Depending on the severity and nature of the pain, some using prescription opioids for pain reported that CBD was as effective as their prescription meds for treating pain.
Research also points to the possible use in combatting addiction. A study performed on substance-addicted rats showed that when under the influence of CBD, they were less likely to show drug-seeking behaviors or relapse with their addictions. Additionally, CBD has far fewer side effects than many prescription painkillers.
It’s no surprise to those who use CBD on a regular basis that this industry is on the brink of explosion. Before long, nearly every medicine cabinet in the United States will have CBD-based products, and those who are cognizant of the profit potential now will get in on the industry before the boom.
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