Change doesn’t happen often, and it usually doesn’t happen quickly. For some of us, we get so stuck in our everyday routines that it’s hard to notice any change or even to realize how fast a particular thing is changing.
If you haven’t been following the marijuana industry, you really need to start. There’s a lot changing about the industry. The fact that marijuana is an industry at all is a huge change!
Talking about marijuana or cannabis is no longer a hush-hush topic. Everyone is opening up to the industry and what it has to offer, and that’s because it has a lot to offer.
Health Care Experiences Change Because of Marijuana
Medical marijuana has brought relief to patients who otherwise felt like they’d never live normal and pain-free lives.
A recent survey in California found that 92% of medical marijuana patients said medical marijuana alleviated symptoms of their serious medical conditions, including chronic pain, arthritis, migraine, and cancer.
The Public Health Institute partnered with the Centers for Disease Control and Prevention (CDC) to produce these types of statistics about medical marijuana.
One thing these researchers found was that the study’s results supported the idea that medical marijuana is used equally by many groups of people and is not exclusively used by any specific group.
The stigma of marijuana is quickly disappearing, and that’s redefining the entire nation. It’s changing not only the lives of people suffering from medical issues but also our culture.
Have you heard of cannabidiol, more commonly known as CBD? Well, CBD is the concentrated liquid extract of the marijuana plant, Cannabis sativa. The other cannabinoid you’re probably familiar with is THC (tetrahydrocannabinol). THC is a psychoactive compound in marijuana. Generally, this is the compound people look for when they want a product that’ll give them a “high.”
Unlike THC, CBD isn’t linked to psychoactive effects, and because CBD isn’t associated with these effects, CBD products without THC are legal to sell and consume.
Which is why you’ve probably seen a wide variety of products being sold that contain CBD or CBD oil. These products are starting to become more socially acceptable and very popular.
In 2016, Forbes reported that CBD products are expected to be a $2.2 billion industry by 2020. That’s right — in only two years, CBD products will account for $2.2 billion, if not more.
Changes in our society and in the marijuana industry are happening right now and are rapidly transforming our future.
Cannabis Is Changing Our Culture
CBD has become one of the most popular ingredients in high-end products. It now can be found in coconut oil, body lotion, face serum, olive oil, bath scrubs, cold brew coffee, lip balm… the list goes on.
CBD has gone mainstream. It’s even caught the attention of soft-drink maker Coca-Cola. The company is “closely watching” the market for drinks infused with cannabidiol (CBD).
In a statement last month, the company said:
Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.
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If one of the most globally recognized soft-drink companies is exploring how to incorporate CBD into its products, I think it’s safe to admit that the CBD and marijuana industry is set to be one of the most influential industries of our future.
Researchers are still studying and determining the effects of CBD. Some of those studies are suggesting that it can help treat inflammation, pain, anxiety, and seizures.
There is still some controversy around CBD because of inconsistent cannabis regulation at the federal and state levels in the U.S. However, over the past few years, legalization has been growing.
As of right now, the Food and Drug Administration (FDA) hasn’t approved any CBD products except for an epilepsy drug called Epidiolex. However, state laws are changing all the time as medical studies keep popping up.
Cannabis Is Shifting the Food and Beverage Scene
Jonathan Eppers, CEO of CBD drink brand Vybes, turned to CBD after going through “debilitating anxiety” while stepping down as CEO from rental housing startup RadPad around two years ago. CBD oil helped him tremendously, and he wanted to open others up to the kind of relief he got from the chemical.
He started to watch market trends, then began talking to hemp farmers, and that’s when he decided to launch a beverage company that would incorporate his favorite chemical, CBD.
Eppers projects Vybes will produce 1 to 1.5 million bottles this year and already has hundreds of retailers selling the drinks across the country.
The CBD food market is rapidly expanding, which is why it’s time to start paying attention to what’s going on in this and other markets involved in CBD and marijuana to begin earning your future fortune.
Embrace what these industries have to offer because it’s going to be life changing.
Until next time,
Monica Savaglia
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.
