Cannabidiol, commonly abbreviated as CBD, is the second-most-popular extract of cannabis and the plant’s most popular therapeutic compound.
Unlike its cousin, tetrahydrocannabinol (THC), cannabidiol doesn’t induce any euphoric or intoxicating effects. That makes it easy for users to establish their ideal doses and track their recovery progress from whichever medical condition they’re trying to treat.
Besides its potent medicinal properties, CBD also happens to be one of the most lucrative sectors in the industries. The following are some of the reasons you should consider investing in the booming CBD industry.
1. CBD has Plenty of Medicinal Benefits
Several years after American chemist Roger Adams first isolated CBD in the early ‘40s, the compound was mostly lauded for its analgesic effects. But as time went by, scientists were able to discover anxiolytic properties in cannabidiol.
Today, medical researchers believe that CBD might also contain antioxidant, antibacterial, antifungal, anti-inflammatory, antidepressant, and antispasmodic properties. With such a long list of health benefits, it’s safe to predict a steady rise in cannabidiol-based products’ popularity. And that will translate into a growth in the CBD industry.
However, remember that CBD will only work for you if you purchase the product from accredited suppliers. Over the years, Lazarus Naturals has committed itself to supply high-quality CBD products at reasonably affordable prices.
2. There are Various Sectors to Invest In
Another major reason you should consider taking your chances in the CBD industry is that there are plenty of sectors you can invest in. You can enter the industry as a grower, in which case you’ll focus on cultivating cannabis plants.
Note that while all cannabis plants produce significant CBD quantities, your best bet would be to opt for hemp variants. Hemp plants give higher yields of CBD and lower THC yields compared to other variants of the cannabis plant, such as marijuana.
Other ways you can enter the CBD industry include as a;
- Processor/manufacturer of CBD products
- Retailer or vendor
- Stockbroker focusing on cannabis-related stocks
- Consultant (such as working as a consultant on the health benefits and legal status of CBD products)
- Promoter of CBD-based products
- Venture capitalist
3. There are Numerous Products to Trade In
So, there are several ways to invest in the CBD industry. As you shall find, many startups prefer entering the industry as retailers.
It’s reassuring to note that there are still plenty of products you can deal in as a CBD vendor. You’re probably already acquainted with CBD oil tinctures.
In addition to selling CBD oil, you can also deal in;
- CBD vape juice and other vape-related accessories
- CBD-enriched cosmetic products
- CBD edible products, including baked goods, gummies, CBD-infused teas, etc
- Encapsulated CBD products.
What’s more, various other industries are jostling to incorporate CBD into their products. For instance, the petcare industry now teems with CBD-infused pet food, which translates into an even wider variety of CBD products you can sell.
4. You’ll Have Clients from All Walks of Life
Many people think of cannabis as an entirely recreational herb. But as we’ve seen, the plant produces numerous therapeutic extracts like CBD.
One of the best things about CBD is that it’s popular with people from all walks of life, ranging from the young and old, sick and healthy, etc. You can even target your CBD products to both medical and recreational cannabis users.
For recreational users, there are special types of CBD products known as full-spectrum CBD. These are products that contain CBD, the psychoactive THC, and a host of other compounds. The cannabinoids in full-spectrum products work synergistically to deliver compounded benefits known as the entourage effect.
5. CBD Enjoys a Higher Legal Backing
The DEA classifies cannabis and all its derivatives as a Schedule 1 drug, which implies that cannabis remains illegal at the federal level. However, the situation isn’t as gloomy as it sounds.
CBD enjoys higher legal approval across various states in the U.S compared to the psychoactive THC. That means less paperwork is required while setting up a CBD business.
Even better, the passage of the 2018 Farm Bill was a major milestone in the CBD industry. The new law made it legal to cultivate, distribute, or consume CBD products as long as those products contain no more than 0.3% THC.
6. The Industry is Bullish
The CBD industry has witnessed steady growth over the past couple of years and the industry is showing no signs of letting up. Predictions by industry analyst BDS Analytics indicate that by 2024, the U.S CBD market might exceed $20 billion in sales.
In fact, those projections may be revised upwards, considering that the COVID-19 pandemic didn’t badly hit the cannabis industry. On the contrary, the industry registered a tremendous performance compared to various other global economic sectors.
That achievement was mainly attributed to lobby groups’ concerted efforts to enhance accessibility to cannabis products amidst the pandemic.
Evidently, there are numerous reasons why investing in the booming CBD industry would be a great choice. Just remember that the legal status of CBD is an ever-changing landscape. So, strive to keep abreast of all the latest industry developments, particularly those that touch on CBD legality and other cannabis-based products.