NEW BRUNSWICK, NJ / ACCESSWIRE / July 7, 2017 / An organic CBD oil product from a US company has been named as the Best Value CBD by CBDReVu.com, a popular international destination for news and reviews of CBD oil products. For more information about the selection, go here https://cbdrevu.com/.
According to CBDReVu.com, the retail market for CBD oil products is growing rapidly. Some industry estimates indicate that the CBD market should grow to a $2.1 billion in retail sales by 2020. That would represent a huge 700% increase from 2016. In 2015, retail sales of industrial hemp-sourced CBD oils were about $90 million, plus an additional $112 million in cannabis-sourced CBD oils marketed via dispensaries, bringing total CBD oil sales to $202 million in 2016.
Cannabidiol, also known as CBD, is a compound in hemp and cannabis plants that has no psychoactive effect. In order words, CBD, unlike the better-known THC, does not have any intoxicating effects. There is growing evidence that traditional recreational marijuana smokers are increasingly interested in CBD. One large licensed cultivator on the west coast says they have calculated that 38% of marijuana users, as well as non-users, have indicated they want to learn more about CBD oil.
So, the CBD oil market projected to grow dramatically. Entrepreneurs and Wall Street have taken notice and jumped on the bandwagon in an attempt to get a piece of this potentially huge market. According to industry research data, in the state of Washington, alone, there are over 800 CBD products available. This diversity of products, some good and some bad, put consumers in a difficult position as they try to sort out the authentic quality products from the pretenders. Like any other food or nutritional item, consumers want the best CBD oil, but in order to find the high-quality products, consumers must do some homework. All companies market their products as the best, but very few products live up to the hype. Even though many credible commentators, like CNN's Dr. Sanjay Gupta, have said positive things about the potential of CBD and medical marijuana, companies marketing these products often cross an ethics line when they make unproven medical claims. One of the first red flags for consumers that should be a signal to stay away from any product in the nutritional space is when the company makes any medical claims about diseases or conditions that CBD or medical marijuana will help or cure. That's because the evidence to support such claims does not exist. There are other caveats consumers should be alert to.
In addition to the difficulty of sorting through the various products, the regulatory picture for the substance is another minefield. Some say pure CBD oil is perfectly legal, and some say it is not. Most companies ship the product anywhere in the USA, but others do not. Some companies let consumers buy with their credit cards, while others only take cash or Bitcoin payments. The bottom line is that, from a legal standpoint, the whole scenario is very confusing and controversial. But, in the meantime, CBD product sales are strong and growing.
CBDReVu.com is based in New Brunswick, New Jersey, USA, and writes about the emerging legal cannabis industry.