CBD products are gaining popularity and a new bill in the United States seeks to exclude the HMP from the legal ban on cannabis, according to a new report that will bring the US CBD market to $ 22 billion within four years .
For years experts have speculated that if the legal cannabis industry continues to expand at present, the US legal cannabis market will reach $ 20 billion by 2020.
The CBD market is expected to reach $ 22 billion by 2022, according to a new research report.
CBD, the non-sterilizing ingredient in cannabis, has become particularly popular in recent years due to its ability to soothe and relax, as well as research to help a variety of health problems such as epilepsy , depression , schizophrenia and even treatment of certain types of cancer .
Because this special molecule provides all of the above benefits without the sattella associated with cannabis smoking, it is relevant to a wider audience of consumers who do not necessarily want to get stoned from THC .
CBD can indeed be produced from industrial cannabis plants with a very small percentage of THC - but federal law in the United States does not distinguish between conventional cannabis and hamp and ban both, which means that the CBD market is currently operating in a legally gray area.
Despite legal restrictions, it is estimated that the US CBD market is expected to reach $ 591 million by the end of 2018.
But what is expected to change the picture is a new bill that receives surprising support from Senate Majority Leader Mitch McConnell and seeks to exclude industrial cannabis from the US ban on cannabis - which would remove the legal restrictions from the CBD industry.
Under the new bill, approved in the Senate a few weeks ago, the definition of "marijuana" under US drug laws will be modified to exclude cannabis plants containing less than 0.3 percent THC. If the bill is finally approved, experts estimate that the market value of the CBD industry is expected to grow 40-fold in the next four years.
"I've been researching markets for years and I've never come across such a crazy market," says Bethany Gomez, research director at Brightfield Group , which analyzes the economic potential of the cannabis market in the US and published the report.
"What we saw this year was an explosion of the market - with a wide range of products such as facial masks, skin lotions, and bodybuilding supplements - all of them pure CBD. People buy it for their grandmother's arthritis, and women buy it for menstrual cramps, "she adds.
According to the company's economic analysis, which is published exclusively in Rolling Stone , the CBD market is expected to expand from all directions - but especially from the direction of the large pharma and retail chains such as Walmart, which are waiting for the legal status to be launched Of their own CBD products.
"Until a few years ago, Hemp-based drugs were considered a health trend without scientific basis," says Gomez. "But now there is much more research and serious companies are entering the field. CBD concentration in products is increasing, and with them, their efficiency. "
"In the end, it will lead to a situation in which consumers may prefer over-the-counter CBD drugs over prescription drugs to anxiety or chronic pain," she concluded. "That's all that's good at cannabis, only without the disadvantage of getting high."
In December 2017 , the World Health Organization announced that CBD had significant medical benefits and determined that it was not dangerous to use. In June this year (2018), the FDA approved for the first time a CBD-based drug for the treatment of epilepsy.
But while there are certain countries where CBD products are already legally recognized, in countries such as Israel and the United States, the legal status of cannabidiol is still vague.
A recent report by Bright field published at the end of 2017 found that the market value of legal cannabis worldwide is expected to reach $ 31 billion by 2021.