Last year was capped off in a positive light when it comes to CBD, the Farm Bill was passed which means that CBD and hemp are federally legal. It is estimated that the CBD market will skyrocket to an estimated $22 billion dollar by 2022, besides incredible market growth there are tonnes of other benefits that are going to be reaped by the passing of the Farm Bill in 2019 this article is going to go over some pretty important things to look forward to in the coming year.
It is estimated that more CBD based products will be available to consumers, with the societal acceptance of CBD and the benefits it can offer, there will soon be a demand for these products to be in the chains we shop at every day, however, it will take some time to meet the demand regardless, companies will soon offer a wider range of CBD based products to meet the need. You could even possibly see CBD products on the shelves of big retailers we shop at every day.
With the removal of CBD from the Controlled Substances Act, there will be fewer restrictions when it comes to the realm of CBD. Most of the information concerning CBD is preclinical which, consists primarily of animal testing but the only clinical research done so far on CBD was in regards to testing its effectiveness when it comes to pediatric forms of epilepsy back in June of 2018. This coming year could potentially be a big year in Cannabinoid research to see the true potential of CBD and what it can do for us.
A Good Manufacturing Practices certificate indicates that a company operates at or above the regulatory requirements put in place by the FDA for the given industry. There are many CBD based companies that already have this certification but, many more are planned to be given out in this coming year.
2019 is the year where hemp and the plant it comes from, should be accepted in society, it's a plant and can solve problems that we are staring at and scratching our heads trying to figure out a solution. There are many things in store for this industry and this is the year to get them done.