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CBD Oil market growing quickly
by Jennifer Kopf

Julio Perrone turned to CBD oil several years ago to improve his focus, relax his edginess and improve sleep.

Brittany Ditzler credits a CBD tincture with relieving some of her anxiety and depression symptoms.

Jill Good-Miller has used a CBD product externally to help alleviate chronic pain.

CBD Oil Market to Hit $22 Billion


Those three letters — which stand for cannabidiol — are quickly becoming big business. The United States market for CBD, a compound derived from hemp, grew by more than 80 percent last year, and industry analysts say it could hit $22 billion by 2022.

But what can it really do? What are the legalities surrounding CBD use?

And, if you’re itching to try CBD products, what can you expect?

What is it?

CBD stands for cannabidiol, a compound found in the cannabis plant. Both hemp and marijuana are a species of cannabis plant, but that’s where much of the similarity ends.

In Pennsylvania, CBD products bought over the counter that don’t require a prescription must be derived from hemp plants. They also must contain 0.3 percent or less of THC, the cannabis compound that, at much higher levels, gives marijuana users that “pot high.”

That means, advocates say, that you’re going to get relief from symptoms with zero psychoactive effects.

Interest in CBD has been increasing over the past year or so, says Jill Good-Miller of Rhubarb’s Market in Lancaster, and the availability of products containing CBD “has come on very swiftly” in the past few months.

A big boost: two farm bills that loosened limitations on growing hemp.

The 2014 Farm Bill, under President Barack Obama, allowed research institutions and state departments of agriculture to issue research permits for growing hemp, within limits. The 2018 Farm Bill removed hemp — and products such as the CBD oil which can be derived from hemp — from the Controlled Substance Act list of illegal drugs.

MARIJUANA VS. HEMP

What, exactly, is CBD?
The acronym stands for cannabidiol, a compound — or cannabinoid — found in cannibis plants. Both hemp and marijuana are species of cannabis found in the Cannabis sativa family.

But hemp and marijuana are not the same thing. They have differing levels of chemical compounds, for one thing. There are more than 100 known cannabinoids in cannibis plants. Two of the most commonly known are THC, the compound that gives marijuana users the telltale “high,” and CBD.

Hemp contains a low level of THC — less than .3 percent — a level that’s set by federal and state law. Marijuana’s THC levels are much higher.

Hemp does, however, contain higher levels of CBD, found mostly in the plant’s flower. And that’s the compound that CBD oil advocates tout as being helpful for conditions ranging from anxiety and depression to chronic pain.

“Some researchers have been holding off” on hemp studies, Good-Miller theorizes, because of uncertainties about whether restrictions would be reinstated. Now, she expects more work to be done on investigating CBD as well as other cannabis compounds.

Rhubarb’s, which carries natural and organic groceries and supplements, has been inundated by offers from companies selling CBD products, Good-Miller says. It’s also been inundated with customer requests: In 2018, products containing CBD were, by far, the store’s best-selling items.

Read more at lancasteronline.com

Want to be part of the CBD Oil Boom? Go to:
HemperorMN

 





 
 

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