The Changing Fortunes of the CBD Market and What to Expect in Future

When a team led by Dr. Roger Adams from the University of Illinois first discovered cannabidiol (CBD) back in 1940, little did they know that one of the more than 100 cannabinoids in the cannabis plant was going to change life. For years, people had characterized cannabis entirely based on its psychoactive effects, which is attributed one of the cannabinoids; tetrahydrocannabinol (THC). Year letter, the world is accepting scientific findings proving that CBD has medicinal values. CBD oil manufacturer in Texas and beyond are busy filling the market with great products and the world is discovered. It hasn’t been an easy journey, and there is more that remains unknown to date.

Earlier days

During the earlier days of its discovery, most people didn’t want to be associated with substances that was known to cause a “high” effect to users. In fact, cannabis smokers were judged instantly by the society. When medical researchers commenced studies to discover what really causes a calming effect on marijuana smokers, little did they expect that it would be CBD. It years of serious research before they could come up with a tentative mechanism of action of CBD. The many CBD retailers Houston you can easily find with a click of the button were non-existent. 

Trials were carried out on rats and other small animals to understand the effect of CBD. Eventually it was linked to its interaction with the body’s endocannabinoid system (ECS) through the CB1 and CB2 receptors. With that in mind, there was a need to discover how humans benefit from this interaction. During this time, there was little acceptance of CBD and there was nowhere to buy CBD oil Texas until recently. As baffled as the scientists, the truth would later come out that CBD has therapeutic benefits. With more evidence was discovered and shared with the public, there was equally an increased acceptance.

Legal restrictions

During the earlier days, the market for CBD products was limited. It is until recently when the laws started being relaxed, thanks to scientific discoveries, that governments, including Uncle Sam started relaxing their tough stances. It was so difficult to grow, find CBD oil distributors in Texas and manufacturers had to operate in hidden and undisclosed places. To date, cannabis remains a prohibited schedule 1 drug. Therefore being found in possession of anything associated with it would attract the long arm of the law.

Gradual acceptance

With more proof that CBD products were good for the body, the federal government had to give way by legalizing the sale of CBD products in all 50 states. However, there was one major condition; THC concentration in these products was restricted to 0.3%. Well, this was something but not much. States were allowed to legislate the use of medical marijuana, where other increased the minimum THC restriction, but the most stuck with the federally recommended cap. Growing of marijuana was prohibited, save for universities and research institutions. Later, it was discovered that CBD oil manufacturers in Texas could get even better oil from a hybrid plant, this was hemp which had very low traces of THC but rich in CBD. The public was eventually convinced that CBD differs from THC.

Situation today

CBD market has been growing steadily, primarily because of the medicinal value attached to it. In fact, patients with conditions such as epilepsy, arthritis, pain and anxiety have been the main promoters of this chemical compound. No one is doubting its effectiveness in managing these conditions. As a result, you can easily buy most products today from any of the licensed CBD retailers Houston. 

With more acceptability, states and countries started opening up opportunities for users and entrepreneurs. More investment went into CBD research, manufacturers have invested in state of the art oil extraction methods such as CO2 and ditched old methods of separation. There are currently a broad range of products you will find in the market, at prices anyone can afford. 

In 2018, analysts estimated that the value of CBD market then was close to $600 million. This is projected to grow steadily to about $20 billion by 2022. There are various factors this is attributed to;

Reasons for the rapid growth of CBD market

  1. Medical benefits of CBD products in managing various medical conditions. FDA approved the first prescription drug with CBD as an active ingredient in June 2018
  2. General acceptance by the consumers, leading to surging demand; thanks to consumer sensitization
  3. Legal framework: countries have started to relax laws governing the industry. The passing of the Farmers bill in 2018 was a boost to the industry.
  4. Innovation: manufacturers are improving their manufacturing process, guaranteeing users of superior quality products all the time.
  5. Technology: The use of the internet has helped drive demand. People no longer have to worry about where to buy CBD oil in Texas. All it takes is a click of a button and you can place your order from the safety of your home.

What does the future hold?

The growth of the CBD market is unstoppable. As researchers discover and prove therapeutic benefits, manufacturing are doing their best to get the consumers the best products. Governments have no option to go slow and support the industry across the value chain, including CBD oil distributors in Texas. In a few years, CBD products will be just like any other medical and wellness drug or supplement.

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