According to a recent study, 62% of Americans are in favor of legalizing marijuana.
CBD and THC use is becoming more widely accepted across the globe, which is why the industry is booming. CBD sellers are popping up in storefronts and flooding the internet.
But what exactly caused this spike in CBD use and is the market upswing here to stay? Read on to learn more.
No Longer Viewed as a “Gateway Drug”
The drug industry has changed significantly in the last few decades. Sadly, more serious and deadly drugs such as heroin and methamphetamines are more prevalent now than ever before, causing thousands of overdoses annually. The number of preventable drug overdoses has risen 450% since 1999. Opioids and the above-mentioned drugs were responsible for a vast majority of these overdoses.
People once believed that marijuana was the gateway drug to other more serious drugs. Users would try marijuana and quickly become bored with its effects, searching for a better or stronger high. But there’s no proven evidence that this is the case.
Marijuana is often used for medicinal purposes and the cannabis counterculture is on a major decline. Even those users who smoke it for recreational purposes often do so in very low doses and to relax and reduce stress or anxiety. Treating chronic pain and insomnia are two other popular uses for marijuana.
And without THC, CBD doesn’t offer psychoactive effects, which is why it’s rarely used for recreational purposes. CBD is often viewed as a natural herb and used for alternative medicine only. How could something so harmless be considered a gateway drug?
More Widely Accepted
As more and more people discover the benefits of CBD and THC for treating countless ailments and illnesses, it’s becoming more widely accepted. People who once viewed marijuana as “pot” or “weed” smoked by lazy teenagers and drug addicts are now viewing it as a positive addition to the medical profession. And for good reason.
CBD has been proven to treat many medical conditions without psychoactive effects. These include, but are not limited to:
- Chronic Pain
- Chemotherapy side effects
- Neurological disorders
And because of its many benefits, CBD is being legalized across the United States at a rapid pace. Marijuana is also used for medical purposes but because it contains THC, it’s not as widely or easily accepted.
Although each individual state reserves the right to legalize both substances under state law, both CBD and THC are still considered controlled substances and illegal under federal law.
In 1996, California became the first state to legalize marijuana for medical use, which inspired many other states to follow suit. In 2012, Washington and Colorado became the first two states to legalize its recreational use. This trend in legalization is evidence that the use of CBD and THC is on the rise.
The Cannabis Industry is Run Like a Business
Now that CBD and marijuana use is more than just a bunch of friends smoking a joint in their parent’s basement, those interested in breaking into the industry need to run their businesses as such.
The cannabis industry is run like any other business and needs the right foundation, inner workings, employees, and structure. The cannabis industry offers more job opportunities than ever before. From growing, cultivating, extracting, and selling, it takes many different facets and talents to run a successful CBD business. These are all clear signs that growers, sellers, and consumers all take the industry very seriously.
Not only that, but those employees working for the cannabis industry are well-versed and highly educated. Many have environmental agricultural degrees or other experience in farming and growing. Business degrees are also helpful when it comes to pricing products, advertising, developing marketing plans, and competing with other sellers.
Thinking Outside the Box
Even within itself, the cannabis industry is breaking out and expanding to several different markets. One reason being, the need to appeal to all different types of users. Not all consumers are the same or purchase CBD for the same reasons.
Products are also changing and evolving. CBD and THC come in several different forms from oils, pills, and ointments, to gummies and tinctures. And each require their own form of advertising, crafting, packaging, and distribution.
What once was a small business operation has taken on a life of its own. One CBD business may have several different departments including management and production.
Another sign that the industry is on the rise in the number of cannabis trade shows across the country, each designed specifically to offer business owners and attendees exactly what they need. Cannabis shows cover a wide range of topics including cultivation, branding, packaging, and investing. Interested parties can actually invest in stocks in the cannabis industry but should check pot stock prices first.
Use Technology Wisely
The cultivation and extraction of CBD and marijuana is a highly scientific and technical process. This is especially true when it’s being done on a large scale, which it often is in terms of big players in the cannabis industry. Although germinating cannabis seeds is still done at the basic level, many companies are welcoming the help of technology in the cultivation process.
The days of hand-picking cannabis buds are long gone. While some believe this is still the best, “purest” method, it’s extremely time-consuming and expensive. Investing in a cultivation or trimmer machine is money well spent for most business owners. Although it may require substantial funds upfront, in the long run, using machinery will save companies thousands, or even millions, in labor costs.
And automation doesn’t stop at trimming. Automated machines can help companies more efficiently package and irrigate products. Lowering the cost of production is a major selling point for those in the cannabis industry and may help streamline the process.
The use of CBD and THC for both recreational and medicinal purposes is on the rise. As people learn more about their many benefits, they’re petitioning for changes in local and federal regulations. CBD is in high-demand and the entrepreneurial spirit is alive and well.