Lately, we’ve seen a huge amount of public and media attention on the commercial potential of a certain five-fingered plant. Mary Jane, cabbage, blaze, aunt mary, pot, ganja: you can take your pick of the 100+ other names identified by the US Drug Enforcement Administration.
Yes, we’re talking about cannabis. Traditionally, this plant hasn’t enjoyed a particularly great reputation, but with a growing number of American states legalizing cannabis for commercial production and private use, all of that may be about to change.
In this article, we’ll examine the continuously-growing commercial potential for Cannabidiol products, as well as taking a look at some of the reasons why brands should hop on this particular train.
CBD is hitting some very high numbers
Cannabidiol (CBD) is the legal and non-psychoactive ‘cousin’ of THC, the chemical responsible for marijuana’s psychological effects. Lately, CBD has conquered industry after industry, from food and beverage, to health and beauty, and even some more, shall we say private markets.
Following the gradual increase in the availability of CBD products over the last five to ten years, the CBD market has exploded. In fact, a report released last autumn by the Brightfold Group predicts that it might hit $22 Billion by 2022 in the U.S. alone.
Given the entire U.S. organic food market is estimated to reach $70.4 Billion by 2025, this is a mind-blowing figure.
Even though further research is needed to confirm all of the benefits linked to CBD, and though the FDA is still working on guidelines to regulate the distribution of CBD products, there’s nothing stopping entrepreneurs innovating with this miraculous substance.
About Wellness BioSciences Rx (WBRx)
Wellness BioSciences Rx (WBRx) is a global innovator in the delivery of science-based wellness consumables in partnership with health care providers directly to their respective patient base. Our products specialize in the development of the highest grade 100% USA-grown hemp oil rich in CBD, CBDA, CBG, CBN, CBC, and terpenes. WBRx was founded by Barry Cocheu and Sean Baker.