What’s fueling the cannabidiol craze?
Cannabidiol (CBD) products—from coffee, juice, chocolate, candies, skin care, pet food, creams, etc.—are turning up in major retailers nationwide and dispensaries across different states. There could only be one word fit to describe the craze: it’s “wild.”
That’s according to Bethany Gomez, managing director of research firm Brightfield Group, which found that the CBD industry was worth more than $620 million in 2018, growing to $22 billion by 2022.
Even with still confusing laws surrounding the legality of CBD, more states are legalizing both medical marijuana and recreational marijuana. With that said, it is interesting to know the people who are fueling the CBD explosion.
CBD is a hit for retirees
According to one research from Brightfield, 40 percent of CBD users are above the age of 40. One of them is Stephanie Camillo, age 64, who used to take Vicodin daily to manage her chronic foot pain which she developed after decades of working as a deli manager at a grocery store. Camillo had foot surgery and constant steroid shots, but nothing helped —until she took CBD. After taking CBD regularly, she said there was no turning back from there. In fact, she rarely goes to the doctor anymore for her foot pain.
Lois Raynow, age 78, on the other hand, uses CBD products to manage her arthritis, sleep comfortably, and relieve her anxiety. Just like Camillo, no other treatment and drugs have brought relief from her ailments. Then, she tried CBD. She then recommended CBD to her 43-year-old daughter who also developed arthritic pain as old age sets in.
CBD products becoming a favorite for pets
Raynow has even had her nine-year-old labradoodle use CBD products. Another study from Brightfield also identified a growing number of pet owners using CBD to manage their pets’ anxiety, pain, and seizures. Sales of CBD pet products are estimated to be worth $1.16 billion by 2022, up from the $32 million sales in 2018 and $8 million in 2017.
However, there is no known therapeutic benefit of CBD for pets. Even the American Veterinary Medical Association refused to take a stand on marijuana products for pets.
CBD is all the craze among wellness enthusiasts
Despite the lingering vagueness on CBD health benefits, many people are looking to include CBD into their wellness regimen, according to a separate study from High Yield Insights. Nearly 40 percent of American adults age 21 and above said they are willing to try CBD under the right conditions. Of that, 64 percent are 35 years and older, 56 percent are females, and 79 percent have college experience.
To be motivated to try CBD, 42 percent said they should have convenient access to the products; 44 percent said they need to read unbiased research, and 34 percent said they would like to have a physician’s recommendation.
Although, the legality of CBD products remains to be in the gray area, given all the overlapping laws between states and the federal government. Before the passage of 2018 Farm Bill, the lawfulness of CBD, whether derived from hemp or marijuana, depends on the state laws. However, after December 2018, when hemp was legalized at the federal level, agencies like the Food and Drug Administration Board has earned the rights to regulate CBD even in states where CBD used to be outright legal.
The FDA basically bans infusing CBD to any products ingestible by humans, most especially in health supplements where manufacturers claim therapeutic benefits. The federal agency is extremely concerned that people who needed medical attention would somehow seek relief from CBD product with unproven health claims. After all, even with the widespread information about CBD’s health benefits there has yet a concrete study that ultimately declared or proved such benefits.
Still, FDA has approved a CBD-based drug called Epidiolex. It is used for the treatment of seizures for patients two years of age and older who are suffering from Lennox-Gastaut syndrome or Dravet syndrome.
Whatever the case may be, it cannot be denied that more people are willing to include CBD in their daily lives. This should be a sign for federal agencies as well as state officials who are reluctant about CBD. If a concrete scientific study is what lacking for authorities to fully declare CBD’s therapeutic benefits, then maybe it is the right time for the government to finally invest in one.