As more than 1 in 4 Americans have attempted to treat pain, stress, and anxiety with CBD, the hemp industry is rapidly expanding. By 2024, the industry is forecasted to exceed $20 billion in both revenue and value.
Hemp is a non-psychoactive strain of cannabis sativa containing less than 0.3% THC. In 2018, the Farm Bill authorized hemp manufacturing throughout the United States. This fueled hemp’s gateway to dabble into personal care, industrial applications, food, textiles, and supplements. However, hemp oil is most often used to create CBD, most commonly used to treat the aforementioned in addition to joint inflammation and poor sleep.
While CBD is only proven to reduce epileptic seizures by up to 71%, many users report improved mental health and increased neuroplasticity upon use. Within the past 2 years, American CBD use has broadened across generations, mostly used between ages 18 and 29. CBD products such as edibles, sprays, or vapes are available at dispensaries, retail stores, and online.
Furthermore, the possible medicinal benefits of CBD have prompted many providers to incorporate hemp oil into their healthcare. However, the rapidly changing legislature surrounding hemp creates a constant challenge for growth. The hemp industry is exploding due to the popularity of CBD. Are you ready for the future of hemp?
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