CBD Products Fuel Massive Market Boom

Sales of CBD products are booming right now. CBD, or cannabidiol, is derived from cannabis and is picking up circulation in the health industry.

More consumers are turning to CBD products that tout health benefits, but the regulation of those products is still in a gray area.

The popularity of the chemical compound found in marijuana is skyrocketing, but it will not actually get users “high” because it down not contain the psychoactive ingredient THC.

CBD is being used in a growing number of products from skin care and beauty products to diet supplements, to desserts.

The food and beverage market is seeing some of the biggest growth. There are even CBD cafes that serve CBD infused coffee. Just last month, CNYCentral reporter Brandon Roth spoke with a bakery in Chittenango that sells CBD infused cupcakes.

Market research firm Brightfield Group found the CBD market grew 89 percent over the last year. Sales are expected to soar even higher after the Farm Bill legalized hemp late last year.

Brightfield Group’s Bethany Gomez says, “We expect the CBD market to hit $22 billion by 2022, which will exceed the marijuana market.”

Right now, it is illegal for companies to add CBD to food, drinks, and supplements, but the rules are not being strongly enforced, yet.

However, the FDA says it will go after companies that make therapeutic claims about products, such as marketing them as curing or preventing any particular conditions, because none of those claims have been proven.

Tests also showed some CBD products did not contain the levels of CBD listed on the labels.

Researchers and regulators are still working to catch up with an industry that continues to grow exponentially.

For now, you should be careful. Do some research before you actually buy any of these products and be wary of any health claims associated with CBD products.

So far, only one CBD medication has been approved by the Food and Drug Administration. It is called Epidiolex and it is used to treat two rare forms of epilepsy.

Make sure you check with your doctor before using CBD products because they can interact with some prescription drugs.



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