Hemp based CBD - acceptance is on the rise ..............
CBD Surges Into Mainstream With New Products, Celebrity Endorsements and Emerging Consensus about Benefits
23 hours ago by CNW Group
Analysts at Brightfield Group see CBD (cannabidiol) gobbling up a sizeable chunk of a projected $100 billion nutraceuticals 2022 U.S. market.
As CBD moves into the mainstream, opportunities are likely to grow exponentially for a variety of companies, including …
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) just received a cultivation license from Health Canada for its facility in New Brunswick.
An Established Wellness Ingredient Goes Mainstream
The recent passage of the Hemp Farming Act in the 2018 U.S. farm bill made hemp an ordinary agricultural commodity, swinging open the door for hemp-derived CBD.
The industry is seeing everyone from A-list celebs at the Oscars to noted medical professionals such as American neurosurgeon Dr. Sanjay Gupta extolling the therapeutic benefits of CBD.
Already incorporated into to a wide variety of functional foods and beverages, CBD has also started to show up in coffee and cocktails, with specialty CBD drinks joining the menus at bars and coffee shops across America. Many users swear by the efficacy of CBD to combat ailments such as anxiety, sleeplessness or physical pain.
With mounting therapeutic credence and a raft of celebrity endorsements, its little wonder that CBD has exploded into the mainstream.
Product developers have been scrambling to incorporate cannabidiol into every kind of consumer product imaginable, from health and beauty items for the skin to tasty treats for the family pet.
The accumulating evidence for CBD's health benefits also owes a great deal to watershed achievements such as Epidiolex, a CBD-derived anti-seizure medication that has been through numerous clinical trials, becoming the first FDA approved cannabis-based drug utilized to treat severe forms of childhood epilepsy.
There's an emerging consensus among consumers that CBD has broad ranging medicinal benefits with the ability to treat something as serious as epilepsy yet also safe enough to be used for daily aches and pains or address a myriad of anxieties and ailments.
This awareness, combined with the rapid proliferation of CBD consumer products ranging from vape pens to functional foods, has led to a veritable grassroots market revolution.
Any lingering stigma or confusion between CBD and THC is rapidly eroding, particularly
with the likes of homemaking legend Martha Stewart now providing her knowledge of consumer products to CBD developers.
And household names such as Kim Kardashian, Olivia Wilde and Jennifer Aniston are also going on record as having enjoyed the health benefits associated with their personal consumption of CBD products.
Growing Consensus about Healing Power of Plants.
Industry Seeing Retail Renaissance in Consumer Products
King Recharge offers fractionally distilled CO2 extractions in exceptionally clean and sophisticated blends that utilize proprietary terpenes in order to deliver a full, robust flavor profile. Sativa, Indica and Hybrid, as well as two limited-edition Sativa flavors (watermelon and bubble gum), are currently available.
Many analysts are saying that the CBD rush is just getting started. One recent estimate indicates that the CBD market alone could eclipse the entire remainder of the cannabis market combined. Wildflower is making all the right moves to capture an outsized share of the CBD bonanza.
A Rising Tide Lifts All Boats
Other companies are recognizing the potential profit CBD may provide.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED)
predicts the new facility in Fredericton, New Brunswick, will produce more than 5,000kg of cannabis annually, with first harvests expected to become available to the market within six months. In addition, the company expects to create more than 130 jobs at the plant.
"New Brunswick has emerged as a leader in the legal cannabis sector, and the province is an excellent place to do business," said co-CEO and Canopy Growth chairman Bruce Linton.
"We will leverage our existing operational expertise to ensure we support the needs of our customers while making a meaningful contribution to the local economy primarily through new job creation."
With the 2018 Farm Bill thrusting hemp-derived CBD into the limelight, the broader industry likely stands to experience a rising tide that will lift all boats.