CBD Oil in 2021
Without a doubt, CBD products continue to grow in popularity and are becoming more widely accepted. Maybe you have just heard of CBD or perhaps you have used it for years. The CBD industry has recently evolved and grown in popularity and there are now a wide variety of products available depending on what you need and your budget. However, this was not always the case.
In this article, we’ll take a look at how CBD has evolved over the years and some upcoming trends for 2021. Continue reading to learn more!
A Brief History of CBD
Hemp has been used for centuries in natural medicine and as a versatile building material. That changed in the 1900s in the United States. In 1937 the Marijuana Tax Act was created which banned all marijuana and hemp production throughout the United States. These plants were still grown illegally but not in the public eye as they are now. In the 1940s cannabidiol, known more commonly by its abbreviated name CBD, was discovered and isolated in the 1940s. Due to the strict regulations research around it remained limited. Fast forward to 2018, the Agricultural Improvement Act provided regulations for the growth and cultivation of hemp.
CBD and The Consumer
Times have changed and so has the taste of the average consumer. Today more than three-quarters of U.S. adults favor legalizing the medical use of marijuana according to a recent survey. In the UK alone it is estimated the CBD market will reach 1 billion by 2025. Over the years both the CBD industry and the way public opinion towards it has greatly changed.
Had the average consumer been asked ten years ago if they had tried or would want to try CBD they may not have even known about it. However, now it is quite common in health products, supplements, beauty products, and even in food. It’s interesting to look at how this transition has come about.
Trends For CBD Oil In 2021
According to the Brightfield Group, a market research firm specializing in cannabis, the company expects the CBD market from just hemp to grow to $22 billion by 2022, up from $327 million in 2017. It continues to be a very popular product and is a part of an expanding market.
There are also predictions that fewer brands will be available on the market due to the higher standards as more regulations come into place such as those from the FDA. It’s predicted that a wider range of CBD products will become available beyond the classic drops, capsules, or creams.
More and more research will continue to become available related to the benefits of CBD and how it promotes well-being and balance in the body and a sense of relaxation. A continual increase in education and awareness is expected as consumers look to further understand what they are putting in their bodies and search for the highest quality.
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