What used to be a taboo product is now being viewed as a powerful substance for a number of major health concerns. It has become so big that governments of powerful nations have begun or already included the cannabis industry into their federal laws. According to Forbes, the demand for hemp CBD oil merchandise is strongest in places where marijuana is difficult to buy.
The time is ripe for the cannabis industry to flourish. For years, advocates have been fighting for its acceptance among the general consumer, and for good reasons. More than the recreational high, the medical value of the cannabis plant is nothing short of remarkable.
Cannabis is known to address nausea and vomiting, help with sleep disorders, treat depression, control seizures and even keep chronic pain at bay.
The global demand for cannabis is shaping the way we look at the emerging market
Once a taboo product, cannabis is now powerful substance for a number of major health concerns. It has become so big that governments of powerful nations have begun or already included the cannabis industry into their federal laws, covering cultivation, production, distribution, and retail of cannabis products.
In Canada, for example, the full legalization (both medical and recreation) has just been implemented. Canada believes that, by making cannabis legal, they are creating a secure channel for the growing industry and helping curb its illegal market to keep both the industry and consumers safe.
According to data gathered by Viridian Capital Advisor, the marijuana industry raised as much as $4.3 billion by the end of July. The projected earnings are $8 billion, which is more than double from the $3.5 billion earned in the year 2017.
Hemp CBD oil and marijuana
Of course, since the cannabis plant is a Class 1 illegal substance under the Federal Law, access and usage of this miracle plant has been very difficult. The introduction, however, of cannabidiol (CBD) as CBD oil has allowed people access to the medical benefits of the cannabis plant without the risk of getting high.
CBD is one of the compounds of the cannabis plant, but unlike the more popular tetrahydrocannabinol (THC), it has no psychoactive effects that make the cannabis illegal. CBD can be derived from both marijuana and hemp, although hemp is easily more accepted in most states as it contains a minute amount of THC (around 0.3 percent).
According to Forbes, the demand for hemp CBD oil merchandise is especially strongest in places where marijuana is difficult to buy (marijuana is legal only in nine states).
Among the sales, data company Brightfield Group said that 64.5 percent comes from online sales, then 17.8 percent are from smoke shops. The rest, 9 percent, is made up of dispensaries and doctor’s offices who are allowed to prescribe the substance to their patients.
This growth translates to 55 percent compound annual growth rate over the next five years.
The popularity of CBD
The CBD market has exponentially grown in the past couple of years. It is the result of a number of important uses in both health and industrial purposes.
But before getting into the business of CBD, it is best to know more about the substance. Here are some things to consider:
- CBD raises serotonin levels. Based on this infographic from The Best CBD Oils, taking CBD affects the serotonin levels. CBD helps inhibit fear and anxiety, which proves useful for people with mental or anxiety disorder.
- It also helps control blood pressure and keeps cortisol—a compound related to stress—down.
- CBD helps people sleep. Intake of CBD (as an edible, tincture or as e-liquid) can help a person who has a hard time sleeping. Taking CBD improves deep sleep, allowing patients to sleep longer without interruption.
- CBD also helps curb drug addiction. People living with chronic pain often turn to opioids for relief. Although it works, the strongest painkillers in the market often lead to addiction.
- By taking CBD as an alternative to painkillers, there’s very little chance to get high. Especially if it is CBD from hemp.
Where to start with a CBD business
Now, if you’re one of those serious about having a CBD business and have started the process to enlist a new business, then it is best to find the right partner that can help you establish the business of CBD.
White Label Liquid Inc. (OTCMKTS:WLAB) is one company that people can rely on when starting a CBD business. An ISO-certified company, White Label Liquid offers business solutions for people who are planning to get into the CBD market. Businesses looking for a capable partner should know that WLSI can help in manufacturing, distribution, and improvement of product quality.
Thanks to its state-of-the-art facilities, the company can provide businesses with everything it needs to launch. White Label Liquid’s developers and engineers are experts when it comes to developing a diverse lineup of products. They only need two weeks to complete CBD products with a distinct flavor, labels, and packaging.
Aside from CBD products, White Label Liquid can also produce e-liquids. Most importantly, it can help budding enterprises come up with a plausible marketing direction in terms of supply.
These are just a few things you need to know about CBD. Of course, if you’re looking into getting in this viable business. It might be hard to penetrate the market at first. Even though, with partners like WLSI, expect a big payout in the near future.
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