Over the past couple of years there has been a large amount of media interest and public attention on the commercial profitability of a certain plant with five finger leaves – cannabis. It is also sometimes referred to as blaze, Mary Jane, aunt mary, cabbage, ganja, pot, and several others as identified by the FDA.
Previously this plant has not had a very good reputation, with it being linked with gang crime and violence. However, an increasing number of states in America have started legalizing the plant recently for both private use and commercial production due to the many health benefits that it has. This will undoubtedly see the bad reputation that cannabis once had, reversed.
A Growing Market
Cannabidiol or CBD as it is more commonly known is a chemical that is found inside of the cannabis plant. This particular chemical is completely legal due to the fact that, unlike THC, it does not have any psychoactive properties. It is THC that is responsible for giving users of cannabis the feeling of being ‘high’. Because of the apparent health benefits of CBD it has gone on to conquer a number of different industries, including beauty, health, drink, and food.
As CBD products have become increasingly more available, the CBD market has really boomed. In fact, the latest estimates predict that by the year 2022, the CBD industry will be worth some $22 billion.
This is a significant figure given the fact that the American organic food industry is set to be worth $70.4 billion by the year 2025.
Despite the fact that much more extensive research is required in order to categorically confirm the medical benefits of using CBD, there is nothing stopping a private label supplier from getting in on the act and from even innovating within the industry. This is made even easier given the fact that the FDA is yet still to produce any guidelines regarding regulations surrounding the distribution of CBD based products.
What seems like a rapid and over night success has seen some people compare CBD with the rise of the crypto currency bitcoin back in 2016. In fact, there are some who have called it the latest avocado on toast. The rising popularity of CBD products was displayed by the inclusion of them in the goodie bags given to attendees at the Oscars. As a result, a number of famous celebrities, such as Mandy Moore and Martha Stewart, have gone as far as to endorse CBD.
The popularity of CBD is evident from 35,000 plus shares that a recent article in the New York Times had. The virality of the article was in part due to the high praise that CBD received from the author.
What CBD Does
In the cannabis plant there are over 113 different chemical compounds, with CBD being just one of them. Unlike THC, CBD does not induce any sort of psychoactive reaction in a person when consumed. It actually appears to have a number of medical and physical benefits, including boosting cognition, improving sleep quality, reducing stress and anxiety, and reducing inflammation.
In addition to these things, it is also said to improve skin health and appearance, as well as stopping acne and the signs of aging. With all of the benefits and properties, it is no surprise then that it has become seen by many as a cure for many of the burdens that come with modern life.
The latest clinical trials have concentrated around the use of cannabis for the purpose of fighting against chronic illnesses, such as epilepsy and cancer.
Because of the popularity of CBD, a new type of well being industry is emerging, thus creating an opportunity for profit for not only providers of health products and services but also for brands centred around wellness. This has seen a completely new type of consumer being exposed to cannabis for the very first time.
Users of CBD products could not be any further away than the typical smokers of cannabis, as portrayed in the movies. They do not wear hippy clothing and they most definitely do not get the munchies from consuming it.
Those people who do turn to using CBD products do not do it in order to achieve a high. In contrast, they are actually wanting to improve their cognition, improve particular ailments, to become more related, or to look younger.
A lot of the excitement surrounding CBD comes from the fact that it is so versatile, which is one reason why it is used in a wide variety of industries. Its properties and benefits not only appeal to those businesses within the health sector but also those in the beauty industry or in the food and drinks industry.
Because of the various applications that CBD can be used for, it has inspired so many entrepreneurs or cannapreneurs as they are sometimes referred to as, to produce a wide range of different products, including CBD infused pet treats, skincare and beauty products, bath bombs with CBD inside, and CBD infused coffee.
It is no surprise then that the company that owns Corona beer invested in the region of $4 billion in a cannabis based company called Canopy Growth. It has also been touted that Coca-Cola may even pair up with a company called Aurora Cannabis to produce some sort of CBD based drink. Starbucks have also been mentioned about getting into the space also.
It is clear to see then that e commerce businesses that involve CBD are booming. This is why traditional retailers like CVS and Sephora have cleared some shelf space in their stores that will be dedicated specifically for CBD based products.
The latest Google Trends data shows that there has been a huge increase in the number of searches being made about CBD over the last 12 months. This upward trend is even more prevalent when examined over a 5 year period.
It is in the United States of America where this trend is the most noticeable, with searches for the CBD brands, Ignite and Happy Tea have gone up dramatically. Although most prevalent in America, this is actually a worldwide trend, which shows no signs of slowing down any time soon.
During the same time frame, the Google searches for cannabis and marijuana remained constant, showing that CBD is actually generating a following all of its own that is completely different to that of the plant which it is derived from.
Over the course or the last year, there were some 3.8 million searches made in the English language for CBD. About half of these were made in the United States of America, where there has been quite a bit of media buzz surrounding CBD. This has been echoed on social media platforms, such as Twitter and Instagram.
On the social news platform, Reddit, there is an entire community of over 66,000 subscribers that is solely dedicated to everything CBD. On there users discuss a whole range of different topics, as well as asking for advice, and seeking reviews.
When examining the demographics of CBD use, it is clear that it is searched for by both men and women equally. The demographics also show that there is a keen interest for CBD amongst older members of society – something that is unusual for things that are trending and being hyped up by the media. However, this is likely to be due to the many health benefits that the substance has.
CBD has shown to be a relief for a wide range of illnesses and conditions relating to old age. With an increasing number of silver surfers now populating the world wide web, more and more brands are seizing on this new opportunity.
Whilst the preceding decade of wellbeing focused around hot yoga (Bikram yoga), high intensity interval training (HIIT), and Cross Fit; the next will centre around self care and products that can be used to help people relax and become more chilled out.
This statement is particularly true for those individuals aged between 25 to 45, i.e. millennials. It is exactly these people who are most vocal about the benefits of using CBD.
Although as it currently stands, the social media accounts of the leading CBD brands do not quite have as large a following as the leading food and / or beauty brands, it is only a matter of time until they are just as big or even bigger.
The recent years have seen CBD go from a niche counter culture product to today where it is in something of the mainstream of society. However, this has also seen conflicting opinions of it become more prominent, with the more conservative types still opposed to CBD due to its links with illegal drug use.
That is not to say that there is no potential for new or even existing brands to develop products and a presence within the market place and make handsome profits from doing so.
Do you have a news tip? Call us at (661) 298-1220, or send an email to email@example.com. Don’t miss a thing. Get breaking KHTS Santa Clarita News Alerts delivered right to your inbox. Report a typo or error, email Corrections@hometownstation.com
KHTS FM 98.1 and AM 1220 is Santa Clarita’s only local radio station. KHTS mixes in a combination of news, traffic, sports, and features along with your favorite adult contemporary hits. Santa Clarita news and features are delivered throughout the day over our airwaves, on our website and through a variety of social media platforms. Our KHTS national award-winning daily news briefs are now read daily by 34,000+ residents. A vibrant member of the Santa Clarita community, the KHTS broadcast signal reaches all of the Santa Clarita Valley and parts of the high desert communities located in the Antelope Valley. The station streams its talk shows over the web, reaching a potentially worldwide audience. Follow @KHTSRadio on Facebook, Twitter, and Instagram.