The final concern to address - was the market high growth with not much competition or was it slow growth with a lot of competition or somewhere in between? This was easy and compelling to determine. One look at Google trends showed the clear demand for these products seen in graph below. Another credible source, Forbes, predicts growth of the cannabis industry to be over 700% by 2020 - in fact, no other industry is growing faster. I also looked at the competition and compared the quality of products, their pricing, marketing, etc. and found that HempWorx was a clear leader. But what about competition - was it saturated or was their room to get in and make it work? Using a variety of metric tools, I figured out that it was definitely still quite early to be venturing into this market and the opportunity for growth without a lot of competition will be available for quite some time.
Cannabidiol and cannabidiolic acid work by binding to various receptor targets throughout the central nervous system and the rest of the body. Acting at these receptor sites, it exerts influence on the metabolism of various neurotransmitter systems. It seems like ‘snake oil’ that one compound can have all the beneficial effects listed above; however, cannabinoid receptors exist throughout the nervous system and it is known that such a ubiquitous receptor must be involved in nearly everything the nervous system does, just like serotonin and dopamine receptors. Dopamine affects pleasure, but also pain. Anxiety and also relaxation. Heart contraction and blood pressure. All of these systems are integrated so cannabinoid receptors will indeed have effects on all of these systems and exogenous cannabinoids from plants can definitely have therapeutic effects which are extensive.
Says Dolgin, who worked with state legislatures to help get the bill passed: “What we brought to the table is that we treated hemp as a big agriculture business, not as a few plants in a greenhouse like marijuana.” Justh adds, “For hemp to take its greater place in the agricultural landscape, it needs to be seen as a commodity.” Dolgin sums it up: “We’re very bullish about the food aspect of hemp. It’s right for an American farm to dominate that market, especially in the organic space.”
Barroso, 48, became interested in CBD after being introduced to it by a friend in Colorado. He had long taken painkillers for a crushing football injury he sustained when he was 23. When his real estate business collapsed during the financial crisis, he invested in a pain-management clinic. Barroso describes that decision as "the worst thing ever," as he soon became addicted to opiates. Then his friend suggested he try CBD gummies, which helped him stay clean.
HempWorx CBD is an interesting brand that has no issue with transparency in terms of how they operate as a business, and where they source their raw hemp plant material from. Also, one of the main things that stands out to me as that they’re one of the only companies I know of that offers specific dosing guidelines for a range of serious medical conditions. This is a bit odd, however, as they also make it clear that CBD is not approved by the FDA as a medicine, and thus none of their products are designed to “treat, cure, or prevent” any disease.