We’ve seen hundreds of CBD product varieties and new companies get introduced to the market since 2018, and it’s no wonder; CBD has been a favorite product among consumers with almost $813 million in sales as of last year (2019). With the market heading ever upward in terms of sales and popularity, this year’s projections for CBD gummies alone are looking promising, to say the least. Gummies are tasty, easy to acquire, and simple to use, making them a favorite among CBD users worldwide. They’re potent, too! Here are our projections for CBD gummies and products in 2020.
Leaving the Past Behind
In May of 1971, the Controlled Substances Act went into effect in the United States. This law, signed into the US code by Richard Nixon, aimed to combat a growing drug problem in suburban America by classifying certain substances in accordance with their level of risk or danger. Unfortunately, CBD, as well as the plant it’s derived from (Cannabis Sativa) were listed as Schedule 1 drugs, which is the highest tier of danger/risk. These were lumped together with the likes of heroin, LSD, and other dangerous drugs, and for nearly 50 years, hemp and CBD products remained illegal at the federal level.
In 2018, the Agricultural Improvement Act, or “Farm Bill” for short, was signed into law, effectively removing hemp containing less than 0.3% THC from the banned substances list, along with CBD and CBD derivatives. Since then, we’ve seen an explosion in the CBD market, with companies popping up all over the country and new products flooding store shelves and online retailer sites.
CBD gummies for pain, sleep, and all manner of health conditions have since been introduced, and one thing is for certain: the public seems to love CBD.
A Profitable Market
CBD’s versatility is likely to blame for its enormous success. Preliminary research has shown that CBD has plenty of great effects on the body, and very few negative side effects. In fact, the only real side effects we’ve seen so far are along the lines of fatigue, irritability, diarrhea, and appetite changes. Those side-effects are minor compared to the terrible side-effects that a lot of prescription and OTC drugs can have, and those are approved by the FDA!
To make something clear, the FDA doesn’t regulate CBD products, but it has approved a CBD-based drug called Epidiolex for certain rare seizure conditions. As research into CBD oil for pain and CBD gummies for pain continues, we may see a shift in how we address chronic pain and inflammation.
With so many great benefits, the profits on the CBD market have been in the hundreds of millions, and some projections place the market at around $1.2 billion in the next few years. If the market keeps growing as it has been, this certainly isn’t a stretch by any means.
CBD interacts with the body’s endocannabinoid system, which is responsible for maintaining homeostasis within the body. That being said, there is a myriad of benefits that CBD has to offer the body, from reducing stress and anxiety to helping manage depression and other mental health conditions. On the physical side of things, there are CBD products for sleep and even CBD gummies for pain. CBD offers similar pain-killing benefits to THC, but without the psychoactive effects. This is probably why CBD oil for pain is becoming a popular alternative to both prescription painkillers and medical marijuana.
With such incredible benefits, almost no side effects, no psychoactive effects, and being readily available, the future of CBD products looks bright. With companies like Verma Farms (https://vermafarms.com/collections/cbd-gummies) setting the standard for quality in the industry, we can expect to see a serious improvement in the level of customer service and high-quality products as the market grows; and that’s something we can all get behind.
A recent study showed some promising effects of CBD on sleep, and more research is underway as the funding continues to pour in from all over the country. Companies, government agencies, and the public alike want to know more about CBD and what the extent of its benefits are. CBD gummies for pain will likely continue to soar to the top of the market, as the tasty treats are incredibly simple to use and ultra-potent.
Whether you’re new to CBD products or you’re already well-accustomed to the compound’s awesome effects, it’s important that we all keep an eye on the market and the research coming out of it. Anyone who’s invested in CBD products would do well to remember that no market is 100% secure.
What is for certain is that the public will continue to use CBD oil for pain, sleep, anxiety management, and much, much more. Why wouldn’t you choose a safer, more natural approach to such things as pain management anyway?