As the legalization of marijuana for both medicinal and recreational use expands across the nation, medicinal and therapeutic cannabis products are becoming increasingly more commonplace in health and wellness stores. Although the popularity of cannabis products was easy to predict from a pop-culture point of view, nobody could have predicted the financial implications or how high the demand for cannabis products, especially CBD, would be.
Cannabidiol otherwise known as CBD is a natural compound found in the flower of cannabis that has been used medicinally for centuries. CBD is a compound found in Marijuana that has been shown to have healing properties, yet unlike its main counterpart THC, it produces none of the “high” that THC does. This is the main draw towards CBD, and what has lead it to flourish in the market. In the past decade CBD has increased in popularity and as a result scientists have begun to study CBD more.
Early results of studies on CBD suggest that there are far more health benefits than previously thought. People tend to use prescription or over-the-counter drugs to relieve stiffness and pain, including chronic pain. Other benefits that early studies are showing is cancer prevention, epilepsy. Complete research on the long-term effects of CBD inconclusive at the moment, as CBD has not been widely used enough to study it. This being said there are currently no studies released with negative long-term effects of CBD. In fact, many people believe that CBD offers a more natural alternative. Authors of a study published in the Journal of Experimental Medicine found that CBD significantly reduced chronic inflammation and pain in some mice and rats.
Despite not delivering a high sensation like THC, until very recently CBD was fairly regulated. Considered as a byproduct of Marijuana in many states, CBD was not allowed to be sold. This lead to CBD primarily being available in states where Marijuana was either legal recreationally or medically. None of this however has stopped CBD from managing to take the market by storm. In 2018 alone, the market for CBD in the United States was around $591 million, despite all of the regulations imposed on it. Though these restrictions are currently being lifted.
Who is using CBD in America?
In the 2018 United States Farm Bill, Hemp has been removed from the list of controlled substances, leaving the market wide open for Hemp Based CBD. With the loosing of regulations as well as consumer mindsets shifting on the issue CBD is increasing in popularity. Today in America, it is estimated that 7% of all Americans use CBD. This is comparable to 19.6% of Americans who consider themselves tobacco users. This is a relatively large number when taking into consideration the fact that with around 3.3 million Americans using CBD despite the regulations in place against CBD.
One of the primary uses for CBD is to treat depression, which is one of the most underdiagnosed conditions in the country. For many, there is no medication besides CBD that can effectively manage their condition and allow them to feel that they are unaffected by their anxiety. The fact that in even some cases, CBD has shown a decrease in anxiety, is extremely promising. This will also most likely lead to many new CBD users in America, as there are an estimated 40 million people suffering from anxiety in America whether it goes diagnosed or slips through the cracks.