From sports medicine to treating the elderly and beyond, CBD is working its way into our everyday lives. CBD burst on the scene primarily after it was discovered that it could be used to treat certain types of pediatric epilepsy. Since then, CBD and hemp have expanded exponentially onto the world stage helping people with pain, sleep, stress, and much more.
Here are five CBD trends that we think you can bet seeing more of in 2021.
New CBD Therapies
An increasing amount of access to CBD has opened up to scientists now that hemp is federally legal. With greater access, scientists are diving deep into the clinical potential of phytocannabinoids in hemp flower such as CBD. As research into phytocannabinoid therapies advances, 2021 is bound to bring us new types of CBD therapies.
Anxiety is a big area where CBD appears to be breaking through. In one study, participants with social anxiety took CBD before public speaking; compared to a placebo the drug significantly reduced stress levels.
In another study, about 50 adults with anxiety took CBD daily for up to three months and experienced a rapid decrease in symptoms – with steady effects throughout the trial.
CBD is finding is why into every part of our lives. If you can smoke it, vape it, eat it, and put it on your skin, why not drink it? CBD beverages are becoming increasingly popular and are expected to nibble into the beverage industry for their relaxing effects.
Every type of beverage you can think of will be spiked with CBD come this time next year. Beer, coffee, tea, wine, water, juice, and pretty much everything else will have CBD in it.
The FDA on CBD
Of course, the FDA at some point has to update its guidance on policy regarding CBD and hemp. Advocates and stakeholders are had been holding their breath for the FDA’s comprehensive new CBD guidance policies since hemp was legalized in 2018. As of late September 2020, The Food and Drug Administration released new guidelines meant to streamline approvals for generic oral CBD medication.
While it’s not the full update the industry is desperately waiting for, it is a sign of things to come for CBD in 2021.
Global CBD Industry Growth
Recent market study reports published near 2020’s end suggest that the global CBD market is expected to grow at around 30.4% annually up to the year 2027. That puts it on track to worth nearly $24 billion globally according to some analysis. As of 2020, the CBD consumer market is at just about $ 3 billion.
While the estimates vary, there’s little argument as to if the CBD and hemp industry will continue to grow or not. As more regions open up their policy to CBD hemp and cannabis, more markets will also open up ensuring the exponential growth of the CBD boom.