The CBD industry is booming, and the effect on income is in a class of its own. While every industry has its hurdles, CBD is having a positive impact on millions of users and many people may be wondering what is in store down the road. With a wide range of CBD products currently offered, sales are expected to grow and diversity will increase as well. In this article, we will discuss the impact that CBD is making on the economy.
What is CBD?
While just about everyone has heard of CBD, there still may be a select few who aren’t exactly sure what it is. CBD or cannabidiol, is an active ingredient in cannabis. Derived from the hemp plant, it is manufactured in a laboratory. CBD doesn’t contain tetrahydrocannabinol (THC), which is the ingredient in the marijuana plant that produces a high, so it is not considered to be impairing. It is marketed in products such as cosmetics, gummies, capsules, oils, and foods, and is used for a variety of reasons. Millions of people find relief from insomnia, anxiety, and pain from using CBD on a daily basis.
What to Know About the Impact CBD is Making on the Economy
So, what type of impact is CBD making on the economy? Currently, there is a huge market for CBD, and it is only expected to grow significantly in the future. Four years ago, sales were well over $4 billion, and within the next few years, are expected to grow to over $15 billion annually. Once big-box retail has access to selling CBD, sales are expected to soar even higher. The sales as well as the increased diversity of products should have a positive impact on supply chains, and the price of materials should grow as long as demand is on the rise.
What Else to Know About CBD
It is important to know that CBD is considered to be safe and effective. It is currently being studied as a treatment option for many diseases and conditions, including epilepsy, Parkinson’s Disease, schizophrenia, diabetes, anxiety, and multiple sclerosis. Since it can’t produce the “high” that THC does, it is safe for anyone to use, and is extremely therapeutic.
Many people may not know that CBD affects two main cannabinoid receptors in the body, The CB1 and the CB2. While the CB1 is located in the brain and nervous system, the CB2 is located in the immune system cells, gastrointestinal tract, and peripheral nervous system. By activating these receptors, conditions can be treated and positive effects can be felt, making CBD a great choice for anyone who feels that they have the need. To this day, millions of people have used CBD to relieve the symptoms of depression, lower intestinal inflammation, and lower blood pressure, and also is a wonderful option for those who suffer from PTSD. Overall, CBD has an amazing impact not only on the economy but on improving the lives of all who use it.
