CBD “Gold Rush”: Growth in the CBD Hemp Market

It is well-recognized that more research into hemp-derived CBD products is needed. According to a Mayo Clinic report, there is a “growing body of preclinical and clinical evidence to suggest that CBD oils may hold promise for treating conditions such as chronic pain and opioid addiction. But few clinical studies on the safety and efficacy of CBD have been reported, and more research involving humans is needed before health care providers can say definitely that they're helpful and safe, according to Mayo Clinic researchers.”

Despite the unknowns, the CBD market continues to grow.

One report by  MedGadget, the CBD market: “The global CBD market was valued at USD 3,088.51 million in 2018, and the market is estimated to grow at USD 2,207,162.54 Million by 2026 and is expected to register a CAGR of 125.58% during the forecast period from 2019 to 2026.”

David Connan of A.T. Kearney, identified several changes, including:

“There will be a whole host of CBD products entering the market as the 2018 Farm Bill makes hemp-based CBD legal in all 50 states. However, individual states may choose to restrict or limit access, making it difficult for national distribution.”

He added,

“And since there are no clinical trials yet, the FDA [Food and Drug Administration] will restrict any health benefits claims. It will be another case, like nutritional supplements, with lots of loyal users but incomplete medical evidence,” he continued. “Also, flavor profiles are still an issue due to the difficulty getting water-soluble cannabinoid oils.”

Ultimately, Donnan suggests that it is best to understand that there is a lot of initial hype, which will likely settle down.

All information is for general informational and educational purposes only. Nothing should be interpreted as legal or wellness advice.