The 2018 Farm Bill, which was recently signed by President Donald Trump a little over a week ago, changed the lives of many farmers with more insurance coverage and protection over their crops. Giving them needed security for their land, which was unavailable to them before. The Farmer's now have a means of growing Hemp safely. Because of this, the 2018 Farm Bill is likely to change the Hemp CBD industry forever, affecting the lives of tens of millions of other people who would never know it. This may include you! Here is how.
Within the Farm Bill Hemp was legally separated form Marijuana, and therefore considered its own crop. This will change the entire supplement and alternative health product trends. Although many experts have their own opinion on the Hemp CBD market, all agree that CBD will become a common alternative supplement for pain relief, anxiety, and sleep amongst many other benefits. The reclassification of hemp will lead to more in-depth research studies that will more accurately describe how CBD is so beneficial to people and animals alike. Because there is no doubt about the medical benefits of Cannabidiol, however there is still uncertainty about the exact process of relief.
This increase in medical research, as well as the decreasing stigma surrounding CBD will lead to an industry boom, and mass market growth for CBD products and sales. Which until recently, have been viewed very skeptically. We have already touched on a few benefits and outcomes of the Farm Bill. But based off these facts presented, along with inside information from major manufacturers this is our inside view of what will happen in the near future:
New Product Innovations
With continued investments into the CBD market, ranging from investors to brands itself, this means new pain points for customers will be met, or met better than it is today. This includes new ingredients within CBD products such as CBD Gummies, CBD Topical Creams, and CBD softgels. This may include and not be limited to, Turmeric, Cumin, and Cayenne Pepper for their different uses such as their anti-inflammatory properties (Turmeric) or helping boost metabolism (Cayenne Pepper). Be on the look-out for new CBD products that include these natural ingredients.
More CBD brands
The other side of the CBD breakout, is that more competition is going to arise in the industry. Many people are going to be interested in creating different brands in order to cash in the market. As a consumer, I would be careful who you purchase from. And make sure you purchase from reputable brands in the market.
Cheaper CBD products
Piggybacking off the last point, with more competition comes more saturation. And with increasing saturation comes a market shakeout and consolidation of brands that become bought out by larger more established brands. As these brands consolidate, prices will drop and consumers will be able to purchase CBD products for cheaper prices.
Higher quality CBD products
As brands become larger, this will lead to larger scale manufacturing, which in turn will lead to better products on the market. The quality of products are great now, and will likely only improve in the future.
Fortune companies join the CBD fun
As stated in the beginning, larger brands are hopping on the CBD bandwagon. This includes massive corporations such as Coca Cola, Corona, and The Alkaline company amongst others. Now what is interesting is that all of these companies are predominantly beverage companies. Which leads to...
More CBD beverages
There is likely going to be a very massive craze for CBD beverages, including energy drinks, health drinks, waters amongst many other types of CBD drinks. The possibilities are endless for CBD. CBD can be put in anything, especially drinks where people can reap the benefits of CBD with casual intake of the products. Hint:Look forward to us retailing CBD beverages from qualified brands and sources in the future
CBD in foods, restaurants, everything
Imagine eating a pizza that is good for you, is that even possible? Now it will be. At least partially. CBD is going to be more and more commonplace in foods, restaurant menus, ice cream, lollipops. You name it, CBD will be in it. Of course, for a higher price however, because CBD is not cheap. CBD will be adding a whole new dynamic to the world we know today for the better, which we are excited to see.
More knowledge about the benefits of CBD
In the future, there are likely to be many more medical and educational studies revolving around Hemp and how CBD can be used to help more major issues such as cancer and seizures. The more we learn about the beneficial qualities of cannibidiol, the more we will learn how it can help those with more severe issues such as cancer and seizures. For example, assisting in learning more about the medical qualities of different cannabinoids within Hemp, as there are more than 113 different cannabinoid compounds in cannabis, and each have different medical qualities once isolated. Because of this, once we can distinguish the properties of each one, we can tailor products towards unique solutions to everything from arthritis and possible cancer help. At least in the hopes of studies and technological innovation.
Health, Lifestyle and Wellness trend
Society in recent years has been moving further and further away from pharmacists, pharmaceutical products and pills, moving towards alternative health solutions. It seems like almost everyday there is a new unique health drink, snack, or food that is made to solve a specific problem. These new products are making it easier and easier for people to find alternative health supplements. In fact, the health craze in general has been taking over since athleisure clothing, and Lululemon came to this world.
As an industry on the brink of explosion, CBD is likely to be noticed by the FDA and new regulations for manufacturing will become standard practices. This can only be a good thing, as it brings formality to a once “wild west” CBD manufacturing space. The products are only going to get higher and higher quality for consumers.
Manufacturing prices will decreases
Due to increased production of CBD products, as well as increasing needs amongst customers, the prices of manufacturing CBD will likely go down, which may lead to more deals and exclusives with consumers. Economies of scale could create low prices for CBD products that are for sale in store and online.
The History of Hemp Regulation:
Hemp was used in everyday life
From an historical view, Hemp has been used for a variety of different purposes amongst early American settlers such as newspapers, clothing, ropes, and clothes amongst others. In fact, hemp was the main source of newspapers until fairly recently when power and greed led to the newspapers being made from paper. To demonstrate, the United States Declaration of Independence was signed on Hemp paper. Hemp used to be a staple amongst the American farmer lifestyle, which at one point farmers were required to grow it.
The tides change against Hemp
Then in 1937, the Marijuana Tax Act on sales of Cannabis starting an downward spiral of Hemp popularity and use. And in 1970 the Controlled Substance Act labelled Cannabis as a Schedule 1 drug. In comparison, Heroin and LSD are Schedule 1 drugs. Now, Hemp is finally breaking free from this label to stand on its own away from Schedule 1 classification.
Hemp makes its way back to common use
2014 was a big step for CBD, with the Farm Bill Agricultural Act of 2014 when the Act made legal separation between Marijuana and Hemp, classifying all Cannabis plants grown with more than 0.3% THC as Marijuana and not legal to sell under typical industrial and pilot programs. While all crops grown under this percentage were considered Hemp, and legal to sell in all 50 states. The act also opened the doors for hemp cultivation in the United States, eventually leading to all of the Hemp CBD products we see on the market today such as Oils, Creams, Capsules, Gummies etc… We only expect the number of innovative and helpful CBD to increase two or three times the rate due to this legalization. The future of Hemp and CBD is exciting. As its uses and importance cannot be understated. Hemp CBD will now be popular for health and wellness, giving people medical benefits for Anxiety, Sleep, Muscle and Joint Pain Relief, ADHD, Pet Help amongst many other things. If you would like to learn more about CBD and how it may help you, check out our CBD solution here!