To hear some people talk about CBD, you would think that every one of us would be stockpiling this miracle substance. But while there is no doubt a lot of hype surrounding CBD, it does undeniably offer some health benefits for users. In fact, scientific research is rapidly confirming many of CBD’s most important purported benefits. Coupled with the growing anecdotal evidence of CBD’s benefits, this seems like a great time to be getting into the CBD market.
But what exactly is CBD and does it justify the current and growing level of interest? Let’s take a look at both questions.
What is CBD?
Cannabidiol is one of the many substances found in the cannabis plant. Unlike THC, the cannabinoid that causes the recreational effects of marijuana, CBD is present in both male and female cannabis plants. The male cannabis plant, called hemp, doesn’t contain any THC and, therefore, doesn’t produce psychoactive effects when smoked.
Until the end of 2018, when hemp was legalized at the federal level, CBD had to be made synthetically. Now that hemp can be legally grown across much of the United States, many previously-hesitant businesses are leaping at the opportunity to cash in on the growing interest in CBD.
How Do People Make Money From CBD?
There are a couple of different ways that businesses can make money from CBD. First, there is consumer retail. These are the people who sell CBD directly to the end user and they represent the end of the supply chain. These stores are supplied by wholesalers.
Wholesalers, also known as distributors, buy CBD in large quantities, which affords them a substantial volume discount. If you’re curious, here’s a CBD distributor that has written a helpful article on the subject.
Finally, there are businesses who grow and process the hemp, extracting CBD oil. There are also some businesses that grow hemp and sell it to other businesses to be processed into CBD. Similarly, some businesses who extract CBD oil from hemp will then sell the processed hemp for various other processes that don’t require CBD.
How Big is the Market?
The CBD market is currently undergoing a period of rapid growth. Even in states where marijuana is legal for recreational use, CBD is still a popular and desired product. Selling CBD online is as easy as building an online storefront, bulk ordering some CBD, and then promoting your business using the right channels.
There is definitely money to be made here by successful businesses. Interest in CBD has skyrocketed in recent years, mirroring the growing acceptance of cannabis in all its forms. Growth of the market is projected to continue well into 2020, and no doubt beyond. With so many people all rushing into the market at the same time, that projected growth will be spread among a large number of businesses. It seems likely that the market will ultimately coalesce around a few big players who will then hoover up the most significant competition. However, for now, there are plenty of opportunities for individuals and independent businesses.
CBD is no doubt a valuable substance with a great deal of potential. Doctors, dentists, vets, and other healthcare workers are increasingly finding that CBD can provide benefits to their patients. We are still just beginning to understand the underlying science. What we do know is that the purported benefits of CBD are increasingly proving to be true.
It is inevitable that the market will eventually plateau when it reaches its maximum size. When that will be is hard to say right now, but it seems likely that we have at least a few more years.
Written by guest blogger, Jessica Peters.
“Jessica Peters is a freelance writer from Melbourne who blogs about health and fitness. Jessica is an avid traveler and regularly crosses the globe to learn about other cultures while blogging from her laptop.”Disclosure: This blog may contain affiliate links. If you make a purchase using one of these links, I may earn a small commission at no cost to you. All opinions are strictly my own and do not reflect the company or product I am reviewing. Disclaimer: Sweet Honeybee Health and its owners are not medical professionals. Content on this website is intended for informational purposes only. I research and write on numerous health topics and companies. Do not use the information you find on this site as medical advice. You are encouraged to seek the advice of a medical professional prior to trying any health remedy, no matter how safe or risk-free it may claim to be. This blog may contain posts by guest bloggers. These posts may not reflect the opinion of sweethoneybeehealth.com or any affiliates that are posted or mentioned on this page. CBD Disclaimer: While some CBD products contain THC, there are many that do not. If you have question about the content of CBD in a product, contact the CBD company for these questions. Reputable companies should have no more than 0.3% or less THC in their product and this should not produce any psychoactive effects.