Legalization removes these barriers and is expected to provide a boost to the U.S. hemp industry, which was previously on track to grow to a $2 billion market by 2022 prior to the Farm Bill's passage. According to the Brightfield Group, though, legalization would result in a $22 billion hemp-derived CBD market by 2022, which excludes the many other types of hemp-derived products on the market. To put that in perspective, the entire domestic cannabis industry (which includes not just hemp, but also cannabis and all its derivative products) was projected to stimulate $23.4 billion in consumer spending by 2022. That means if the Brightfield Group's estimates are accurate, hemp-derived CBD alone could double the projected market value of the entire cannabis industry.
CBD(Cannabidiol) is a cannabis compound that has significant medical benefits, but does not make people feel “high”. The fact that CBD-rich cannabis is non-psychoactive (as opposed to a THC dominant strain) makes it an appealing option for patients looking for relief from inflammation, pain, psychosis, seizures, spasms, and many other conditions without feelings of lethargy or dysphoria. Our full spectrum CBD Oil is CBD-dominant!
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Returning to our CBD article, Dr. Jean Talleyrand, founder and Chief Medical Officer of MediCann in Oakland, California, and co-founder and Chief Medical Officer of The Clinical Endocannabinoid System Consortium in San Diego, California, emphasizes that any “product should be evaluated for its packaging, shelf life, and variance,” as well as third-party testing, which will show strength and purity.