CBD Progress In 2020
2020 might have been one of the most eventful years yet for the CBD industry since the Farm Bill removed hemp (from which CBD is extracted) from the list of controlled substances in 2018. This year included an influx of new products and attempts for additional regulation. This may end up being more beneficial for consumers in the long run, with potential efforts leading to the standardization of and transparency in the entire CBD manufacturing process from sourcing suppliers to labeling packaging. As seen here, this is one example of recent state level initiatives.
In addition to forms of regulation and statements from the DEA, PR newswire shares that many CBD companies saw an increase in sales this year, and that there is a predicted growth rate of 31.9% for 2020 and some years to come. Given time to work from home and better prioritize self-care, it seems evident why CBD has become a common ingredient in the everyday lifestyle routine. The stress of the pandemic could also have directed more and more individuals towards a natural alternative for reducing anxiety over traditional pharmaceutical drugs.
In fact, this human study found that, “CBD’s efficacy in reducing anxiety behaviors relevant to multiple disorders, including PTSD, GAD, PD, OCD, and SAD, with a notable lack of anxiogenic effects...had minimal sedative effects, and an excellent safety profile.” This encouraging find also indicates the need for further analysis and studies, to discover all of the potential benefits CBD has in treating anxiety disorders.
On the other side of CBD, for topical use, Businesswire sheds light on the importance of “personal well-being which also includes skin care regimes” for many U.S. consumers. This trend is accredited to an increasing amount of disposable income and higher standard of living. In addition, new studies show that CBD applied on the skin isn’t just used for inflammation caused by overuse, but could also improve skin clarity along with anti-aging properties. The need to address overall wellness was also found in European markets, with the expansion of a global e-commerce market with CBD products more readily available with legalization in most countries.
Interesting CBD statistics found in this article share that “the most common uses are for pain relief (64%), anxiety (49%), and insomnia (42%) (SingleCare, 2020).” This same survey found that “one-third of Americans have used CBD” and “64% of U.S. adults said that they were familiar with CBD and/or CBD products.” To learn more about CBD and the recent study from U.S. adult residents, read more here.
*The statements made in this article have not been evaluated by the FDA. Any products recommended are not intended to diagnose, treat, or cure any disease.