In 2018 Congress passed a bill known as the “Farm Bill”, where 0% THC-CBD products have become recreationally legal in all 50 states in the U.S. One year later, we’ve seen the CBD market become one of the most promising markets for both healthcare and investing, with more and more competitors entering the space each day.
In the last year alone, the market has grown a whopping $219 million dollars and there are no signs of it slowing down. Some experts have gone on record saying the market can expand upwards of 700% by the end of next year. So, what’s with all the attention? Why has CBD Topicals moved away from THC to CBD markets? What made this seemingly unknown drug blow up in the past year?
What is CBD?
Cannabidiol, or CBD for short, is a non-psychoactive chemical found within the hemp plant and belongs to the same family as Tetrahydrocannabinol (THC). Though THC and CBD are related, the two drugs vary immensely. While CBD is used as a long-term, non-psychoactive medicine, THC is more often used as a short-term, psychoactive drug.
This means that CBD experiences many of the same benefits as traditional marijuana, but does not put the individual into a psychoactive state of mind. Some benefits include, but are not limited to, the suppression of seizures, psychosis relief, and additional help for your body to combat tumors and cancer cells in some cases.
Rapid Market Growth
As stated earlier, many market experts believe that the CBD market will undergo rapid expansion over the next few years. One source by the name of The Hemp Business Journal even claimed that the market will grow from its current $390 million market capitalization to $1.3 billion by the year 2022. That would make CBD one of the most rapidly growing non-technology markets in the country.
Even the retailers are picking up on the CBD wave. This year alone CVS, Walgreens, and many other small retailers have started to sell CBD products. The financial gain is simply too attractive to these retailers, especially when CBD helps patients immensely, leading to repeat sales. So far, CVS and Walgreens have been more than satisfied in their trial run of offering CBD and they expect sales to only grow more rapidly in the coming months. One of their next potential CBD clients goes by the name of UrthLeaf and representatives at each store seem ecstatic about this company’s potential.
UrthLeaf is The Investment to Make
One of the newest players in the CBD market, a company named UrthLeaf, has already begun to make huge waves with its unique products and branding structure. UrthLeaf is a CBD company based out of Los Angeles, California that is a great choice for investment right now, as it has huge potential to grow in the next year. Although UrthLeaf is a relatively new company, the founder has a proven track-record in business and a business model unlike any other competitor in the market.
The company represents itself to be a lifestyle and medicinal company rather than a traditional brand. This approach has proven to facilitate repeat business, especially since UrthLeaf maintains a customer-oriented business model. They truly believe in the products that they are offering to consumers and build real relationships with their patients to provide real help. The team has gone as far as reaching out to individual patients and create custom products for users that have had difficulty using their existing products.
For more information or to purchase products, visit them here.