The cannabis industry started to experience major changes thanks to the development of CBD. Most of the useful properties of CBD have not yet been proven. In the United States, where CBD is legalized, it can be found everywhere. Consequently, over the last four years, CBD sales have increased by 40%.Large cosmetic companies, such as Sephora, produce cannabis-based creams.
As the drug moves away from being taboo, more industries are taking advantage of consumer interest in the health benefits of cannabis by designing cannabis-infused products.
TechCrunch reports that American manufacturers of food, medicine, cosmetics, and other products have been increasingly adding cannabis to their products.
The cannabis industry has begun to experience a number of major changes thanks to the development of CBD.
Manufacturers have learned to separate the two major chemicals in marijuana: THC (tetrahydrocannabinol) and CBD (cannabidiol).
Non-psychotropic CBD suppresses pain and reduces anxiety without the effects of drug intoxication.
The absence of intoxication when using CBD made cannabis more attractive. So, consumers can get rid of anxiety or pain and continue to function normally.
Most of the useful properties of CBD have not yet been proven by scientific research but by independent experts.
Just a handful of studies suggest that cannabis is capable of treating glaucoma, epilepsy, and anxiety. Despite this, consumers are ready to buy various CBD products, starting with food, ending with cosmetics, in the hope of using them to cure insomnia, headaches or to simply help them relax.
CBD is legal in the US, as such cannabis-infused products are everywhere. Consequently, over the last four years, CBD sales have increased by 40%.
Large retailers sell candles and cannabis oils. Restaurants can buy coffee and cocktails with marijuana. Large cosmetic companies, such as Sephora, produce cannabis-based creams.
The US Food and Drug Administration (FDA) and independent experts have expressed concern. Some companies make unsubstantiated statements about the effectiveness of cannabis products.
Also, other companies add less CBD than the label says, making the product untrustworthy.
The Farm Bill may have legalized hemp and CBD but there are still few regulations governing quality and companies making unreasonable health claims.
This means it is important that CBD companies retain a high level of transparency.
The perfect example of this is Veritas Farms Inc (OTC: VFRM). Veritas means truth in Latin and the company sticks by its name.
It operates a 140-acre industrial hemp farm in Pueblo, Colorado, and makes it simple for consumers to verify the quality of their products via innovative QR code packaging.
In Q2 2019 Veritas generated more than $2.9 million in total revenue and that is a 500% increase since Q2 2018.
In addition, their gross profits reached $1,523,413 and thanks to great results, they managed to reduce the liabilities by over $1.3 million.
This kind of rapid growth demonstrates the huge potential of the North American CBD industry. Particularly for companies that are willing to go above and beyond in order to provide a quality product for their customers.
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(Featured Image by Laryssa Suaid)
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