Understanding the CBD Industry
Every once in a while, a product emerges that grabs hold of consumers across the globe. While this doesn’t happen every day, CBD is one of those products. Cannabidiol, known as CBD by most, is a major contributor to the recent surge in enthusiasm that the medical market saw.
Today, CBD is an industry of its own. Moreover, people believe it is on-track to harvest $16.32 billion in the United States alone by 2026. Demand for CBD oil and other hemp-derived CBD products is on the rise, and it’s not too surprising.
Through their research, scientists work to isolate the active chemical compounds of marijuana and hemp. In the past, they focused solely on tetrahydrocannabinol, or THC, which is the psychoactive compound of the plant. However, continued research pointed to the therapeutic potential of the non-psychoactive compound CBD, which is found in hemp as well.
With its lack of a psychoactive nature, CBD enticed a diverse audience, even resulting in CBD products for pets. Dubbed the “Green Rush,” many people began to cash in on this growing market. However, this rush of people trying to market CBD online legally and effectively means the market is crowded.
As you start your CBD e-commerce store, it’s important to understand the rules that come with marketing CBD oil and other products.