CBD has seen a huge surge in popularity. People have begun to turn to cannabis oil for pain in huge numbers, and CBD cream has grown exponentially in popularity. CBD now comes in a wide vary of forms: hemp oil for pain, capsules, CBD cream for pain management, and so many more options.
But what is the history behind this huge CBD boom? When did cannabis oil explode onto the market?
Where was the market two years ago?
The stigma against cannabis and cannabis-derived products has been dwindling in the wake of the waves of legalization. As this happened, more opportunities opened up for producers to market products to a wider audience. Now, options like cannabis oil for pain leave consumers the option to choose the effects they desire. More research is being conducted daily on the health effects of CBD, and the market across the U.S. is booming. Consumers are interested. Many have started to buy CBD oil for pain online, and others have joined CBD pyramid schemes or started small businesses of their own.
With stigma gone, many want to explore this health avenue that might have previously been closed or walled off by a bad reputation. As alternative health methods become increasingly mainstreamed, CBD pain solutions not only fit right in with the crowd but push the march of alternative remedies and cannabis legalization onwards.
What’s happening in hemp production?
2018 was a pivotal moment in CBD legislation. With the passing of the Farm Bill, hemp production was no longer regulated as a controlled substance. Simultaneously, the FDA has been pushing to keep up with studies and regulation of CBD, especially as it comes with health claims. This is a booming market, and it’s creating job opportunities across the spectrum: in government, agriculture, manufacturing, medicine, scientific study, and more.
The future of the market
All these factors set CBD and cannabis oil for pain up for a huge market boom. According to a study conducted by the Brightfield Group–a consumer leading research group–the CBD market is set to potentially grow from its current $1 billion to $23.7 billion by 2023.
This creates unique business opportunities. It builds unique bridges between farmers and investors. Many farmers are devoting more land to the production of this promising cash crop, and the market continues to climb.
Such a booming infrastructure creates unique opportunities for consumers, as well. Gone are the days of ducking out to a street corner to get your medicine from a man in greasy overalls. Instead, you can buy CBD online from the comfort of your home, never engaging in illegal activity.
Will this boom and bust?
The outcome of this Wall Street CBD boom depends on a variety of factors.
First, it depends on standardization. A new market is exciting for consumers, and as such many consumers are willing to wade through different labels and do a little bit of investigation for themselves.
However, if the CBD market does not continue to standardize, consumers will likely tire of continued swarms of different CBD products on the market, and they will no longer want to put effort into investigating the legitimacy of different CBD suppliers. Consumers will suffer from a new kind of CBD market burn-out, and Wall Street will experience this burn-out acutely.
If the CBD market successfully continues to standardize, further success will depend on scientists and medical experts continuing to investigate the many health benefits and effects of CBD. This factor is related to but separate from regulation. With all the money currently in the market, it shouldn’t be challenging to continue to fund investigation and help show consumers the incredible benefits of CBD.
Additionally, the CBD boom depends on suppliers continuing to develop incredible products and market them successfully.
CBD and the future of Wall Street
It would be remiss and, frankly, arrogant to suppose one could predict the future of any market for absolute certainty. Thousands of financial analysts work on such topics daily, and, as almost any analyst could tell you, markets are inherently interdependent beasts. If one huge aspect of the market crashes–housing, for instance–then the market for another product or service can be adversely affected.
However, with the growing science and standardization surrounding CBD products and with extremely promising market predictions, CBD is likely to be an excellent option for investors and health-conscious consumers for years to come. If you want pain relief from a product that won’t slow you down or make you dependent, fill out Revelium’s contact form or call today at (360)-200-7417.