In 2013, it was “selfie”; in 2018, it was “toxic”. A real contender for 2019’s word of the year, however, could be “CBD”. Cannabidiol, a non-intoxicating component of the cannabis plant, is everywhere and some are touting it as the miracle drug du jour.
An analysis from U.S.-based Cowen & Co. indicates almost seven percent of polled U.S. citizens are already using CBD as a supplement in one form or another—tinctures were most popular at 44 percent, followed by topicals at 26 percent and beverages at 19 percent—even though it remains classified as a narcotic. Despite restrictive regulations, the global hemp CBD oil market reached US$950 million in sales and this number is projected to grow to US$2.5 billion by 2026. “Increasing production and legalization on the sale of cannabis in Canada is projected to fuel the hemp-based segment of the market in North America during the forecast period,” adds the report issued by Transparency Market Research.
Given the anticipated growth, it only seems prudent that regulators around the world are trying to catch up.
Read my full post at TheGrowthOp here https://www.thegrowthop.com/cannabis-health/cannabis-cbd/opinion-is-cbd-the-word-du-jour-for-the-cannabis-industry-and-beyond
