What Will Happen with CBD Hemp Oil Market in 2019 and for Many Years to Come?
The year 2018 brought a lot of progress regarding the legality of hemp-based products. With the federal government backing down from their attack on the CBD and hemp industry, CBD was allowed to take its rightful place as a legal substance. For many years, CBD was thrown in with marijuana. Despite CBD not containing the THC that marijuana has, it was very much shunned by the government and by much of the public population.
The Farm Bill removed cannabis products containing zero THC from the Controlled Substances Act of years ago. This Bill is likely going to impact 2019 by changing growth practices. As this market has been progressing steadily in recent years, this Bill will set up for some significant changes in 2019 and 2020. While it has taken some years to get to this point, hemp being removed from the 1970 Controlled Substances Act acknowledges there is some great benefit to incorporating hemp and CBD into your daily lifestyle.
Many states within the U.S. have begun to allow commercial growing of CBD. It will hopefully continue into 2019 and beyond. Let’s take a closer look at what the future holds for CBD in the year 2019.
What Effect Will CBD Have on the Market in 2019?
In 2017 and 2018, the hemp market doubled in the United States alone. With recent legislature changes, it is looking like this growth will continue over the next few years. Hemp is a very beneficial and healthy crop. Being able to use CBD for a variety of ailments and health issues is what has helped push CBD into the legal market.
You can now obtain CBD oil, extracts, tinctures, topicals, and many other products. While cannabinoids greatly help our body and balance a variety of bodily systems, it would be aggressive to say that CBD is set to take over the supplemental and holistic market in 2019. States are not required to push the production and sale of hemp. Many states still frown upon it, and many states are still banning the production and sale of hemp. Until the majority of the United States is on board with CBD, the market will still be limited to a certain extent.
How the FDA is Involved
The FDA may start to have more involvement with the hemp market this year. It could be both beneficial and restrictive. The FDA has the right to seek participation, but this could lead to tighter restrictions being placed on products that are being sold. The Food, Drug, and Cosmetics Act is what would have the most significant impact. FDA can shut down some companies and brands if they cannot comply with requirements FDA. It would leave behind the best CBD oil on the market. In essence, this would help the market and keep out non-legitimate growers and sellers.
The Farm Bill of 2018 also provides authority regarding hemp production when USDA approval has been sought out. There needs to be some USDA involvement to keep things controlled. Producers need to provide information about the place of growing hemp, the THC content and so on. Currently, Law does not accuse of criminal level growers and producers that exceed this limit. There are corrective action plans in place though. Supervisory authorities can prohibit you from producing hemp products for up to five years if you violate legislation three times.
How CBD Can Equate to Profits
It was a great push for the best CBD oil on the market when The World Health Organization issued a statement expressing their support for CBD. They feel that CBD has potential without causing any kind of harm or risk to the person consuming it. You even have the pharmaceutical industry working with investors to produce legitimate drugs for patient consumption.
Epidolex was the first CBD prescription that came out in the summer of 2018. CBD Market analysis information being conducted by industry experts is predicting that the CBD market could increase by three billion dollars in the next five years time.
If you are interested in potential CBD market involvement
If you are interested in potential CBD market involvement, now is the time that you would want to get involved in one way or another. Changes in legislation will cause the market to grow exponentially in the coming years. A good deal of money is available in this market in 2019 and on, whether you are looking to grow, manufacture or sell.
Cannabidiol is a product that is going to equate to profits, but you’ll also have the opportunity to help people thanks to its health benefits. With the market already having doubled in the past few years, it is time to think about how you can become involved in this market soon.
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