CBD is without a doubt one of the hot topics in the wellness world right now. Given that is extracted from cannabis, a lot of questions are raised. Whether it’s questioning the legality of CBD, or how safe it is for consumption, amongst many other burning queries. Therefore, the following CBD article will offer up some exciting CBD facts and statistics that will give you a better understanding of how exactly CBD works, and what direction the industry is heading in over the course of the next few years.
CBD is Not Addictive and is Safe to Use
Let’s begin with probably the biggest question of all. As confirmed by the World Health Organization, CBD is not addictive. The reason being that although cannabidiol is found in cannabis, hemp-derived CBD contains less than 0.3% THC, which is the psychoactive ingredient that causes those who take it to get “high”.
One of the more interesting CBD facts is that the WHO has also confirmed that using CBD is perfectly safe. In whichever form you decide to take CBD, cannabidiol is safe to be consumed, provided that it is legal.
Hemp-Derived CBD is Legal in All 50 States
Speaking of legality, CBD that is derived from hemp is legal to use courtesy of the 2018 Farm Bill which legalized hemp in all 50 states. It is important to differentiate hemp-derived CBD from marijuana, which as mentioned contains over the legal amount of THC. This also means that CBD derived from marijuana is only legal in states where marijuana itself is legal.
CBD Comes in Many Different Forms
Consumer reports show that 35% of consumers prefer to take CBD via edible products, which includes cookies, tea, and a number of other food items that have been infused with CBD. Meanwhile, CBD vape juice facts state that 30% of users prefer taking CBD with a vaping device. Many also choose to use drops, sprays, creams and rubs, and even capsules. So needless to say, there are several bases covered for consumers to choose from when it comes to taking CBD products.
CBD is One of Many Compounds in Cannabis
Cannabis is made up of many different chemical compounds or cannabinoids. In fact, over 100 compounds can be found within cannabis, and Cannabidiol(CBD) is just one of them. The only psychoactive compound in cannabis is Tetrahydrocannabinol, which is often abbreviated to THC. Serving as one of the non-psychoactive cannabinoids in cannabis, CBD is often mixed with oils and other products for a variety of benefits.
Out of the people that use CBD, 22% said it helped them supplement or replace prescription or over-the-counter drugs.
Over 60 Million Americans Have Used CBD
The popularity of CBD has certainly soared over the last couple of years since the Farm Bill was passed. There are a few interesting CBD facts & statistics here, with one in seven people now using CBD on a regular basis having tried it. The age groups in which it is used is also varied, with 15% being 60 or older. Meanwhile, 39% of CBD users are in the 18-34 age bracket.
64% of seniors who try CBD say it helped them.
Since stats show that many in the younger age bracket are using CBD, it showcases popularity amongst a consumer-friendly demographic, which could see CBD continuing to soar in the coming years. Technology and services delivering CBD will have to move with these times, with this demographic often choosing to make purchases via the internet on mobile devices.
And 40% of Americans Would Like to Try it
That’s a large portion of the population wanting to try CBD, according to statistics published in 2019. Whilst this doesn’t necessarily mean that they will all become regular users of CBD products, we are likely to see more and more people wanting to try out hemp-derived CBD products for the first time as they become more readily available.
US CBD Market to Hit $20 Billion in Next Four Years
As CBD continues to spread itself across the market, from health and skincare products to food, cosmetics, and even pet products, it is quickly becoming an industry within itself. It is certainly starting to break out on its own and is predicted to have reached $20 billion by 2024.
The Veterinary CBD Market is Set to Skyrocket
So now you have a rough idea of CBD’s usage and popularity amongst people, but what about our pets? There are a number of CBD products available for our furry companions too, with the veterinary CBD market projected to surpass $125 million in the next two years. Studies have shown that there have been beneficial results on dogs, and as research continues so will the growth in popularity of hemp-derived CBD products.
CBD Dubbed as “The New Gold Rush”
This is what many business analysts refer to the rise of CBD as, and they would be right to do so. Market supply and demand continues to rise, which has both positive and negative effects. Whilst it’s great to see the market grow so quickly, it also opens the door for opportunists trying to take advantage of the meteoric rise of CBD.
This is why it’s important to do your research and shop with retailers that have third-party lab-tested CBD products. You will find that many are looking to take advantage of this phenomenon, and will cut corners to make a quick profit. Unfortunately, this means some CBD products can contain unwanted ingredients that could be harmful, so make sure you are shopping with the knowledge that the products have been tested by external sources beforehand to ensure you are getting the ingredients that you are paying for.
So we have a projected idea of where the CBD industry is heading, and it is only going from strength to strength in the coming years. As the market continues to boom, the reach and availability to the general population grow to make CBD products more and more accessible. It is however still important for you to do your research before deciding to start using CBD products. The amount of CBD to consume and what form it is in depends on the individual in terms of what works best, so be sure to ask the necessary question before you do so.
Now that you know your CBD facts and statistics, save yourself a lot of time and money by starting out the right way with a free CBD consultation and personalized product recommendations with a CBD expert at The Mass Apothecary.