During this time, both the FDA announced that it had approved the “first drug containing cannabidiol” for epilepsy and a spokeswoman for the DEA, commenting generally on the agency’s reported seizure of hemp destined for a CBD oil manufacturer in North Carolina, said that “as far as the federal government is concerned, CBD oil is illegal.” That’s two federal agencies that both have the word “drug” in their names appearing to contradict each other, mere weeks apart. So suffice to say, it’s cloudier than a Cheech and Chong cast party right now.
Federal law first loosened in 2004 when the Hemp Industries Association challenged the Drug Enforcement Agency (DEA) on a proposed rule that would have prohibited the import of hemp seed and oils for processing and manufacturing in the U.S. The Ninth Circuit Court of Appeals struck down the DEA rule, allowing manufacturers to continue importing hemp for the creation of finished products like hemp-based foods, beverages and topicals. Although the decision allowed many product manufacturers to continue operating their businesses, the domestic cultivation and harvest of hemp remained prohibited. It wouldn't be the last time the Hemp Industries Association pushed back against the DEA.
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Some of those products, which don’t include the CBD amount on their label, market themselves as “whole plant” or “full spectrum” hemp products, or say they are rich in other compounds from the plant, such as various fatty acids. Though it’s possible that those other compounds provide additional health benefits, that’s still uncertain. In those cases, you could check the COA, if they have one, which should list how much CBD or THC they contain.
Thanks Barbara, This is really helpful. Unfortunately, I have read another review that stated they hadn't been paid either and they had a difficult time getting support. The first red flag was that they state that CBD oil is legal in all states. It is not. Yikes on Trump support too. Although I have not seen any internet research to support that statement, it puts a sour taste in my mouth. Thanks!
The Hemp Industries Association (HIA) reported total U.S. retail sales of hemp products of nearly $700 million in 2016. HIA claims that U.S. hemp retail sales have grown by about 10% to more than 20% annually since 2011. Mostly, this growth is attributable to sales of hemp-based care products, supplements, and foods. Together, these categories accounted for more than two-thirds of the value of U.S. retail sales in 2016.
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.
Dispensaries may sell a variety of “CBD-rich” products that are high in CBD and relatively low in THC, including oils, tinctures, topicals, and vaping liquids. They may even sell buds or flower from marijuana strains that have been bred to have very low levels of THC, says Michael Backes, author of "Cannabis Pharmacy: The Practical Guide to Medical Marijuana" (Black Dog & Leventhal, 2014). For example, the strain “AC/DC” can be just 0.5 percent THC, barely above the cutoff allowed for CBD from hemp and much lower than the 20 percent or higher THC concentration typical of most marijuana strains, Backes says.
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For products made with CBD from hemp, even Colorado doesn’t require testing of the finished product. So any COA for those final products comes from testing the company arranged on its own. Though not all manufacturers take that step, many do, Lanier says. That includes even some companies that use imported hemp, such as CV Sciences, which makes Plus CBD Oil from hemp grown in Holland.
To summarize, we would say that HempWorx CBD oils are pretty standard in terms of effectiveness, and perhaps even a good value in terms of price compared to some of the more popular brands in the US. While they’re probably not the best we’ve ever had, they’re by no means the worst either. And of course, the company offers fast, reliable shipping to all 50 U.S. states.