WHERE IS THE HEMP INDUSTRY AT TODAY?

THE LEGALITY OF CBD

For a little background on the legality of CBD, if derived from the hemp plant, it is legal in 47 states. There are only 3 states where CBD is considered illegal, as each state does have the authority to make its own determination on CBD. To see a map of the legality in all U.S. states click here. The 2018 Farm Bill removed CBD with up to 0.3% THC from the list of controlled substances, but CBD cannot be classified as a dietary supplement. Product labeling restrictions remain in place as well.

GLOBALIZATION

According to Forbes, there will be a continued trend toward legal globalization of cannabis and the demand for CBD will continue to increase, expected to rise to $2.1 billion in 2020. Even Puerto Rico’s Department of Agriculture announced that they are committing to planting 10,000 acres of hemp plants this year.

HEIGHTENED STANDARDS

There is heightened concern for CBD quality and transparency. Consumers are becoming more educated on CBD testing, ingredients, and production. Sometimes the exact amount of CBD in a product is unknown or the information is not readily accessible.

At The Happy Labs we have a “locate your batch” link that takes you directly to the information for each batch so you know exactly what is in each product you order.

You’ll want to make sure that you can view the potency of the CBD product stating what percentage of cannabinoids are found in the oil. Some products can be labeled as only hemp oil instead of CBD which can be confusing, as hemp oil is what is extracted from the seeds of the plant and CBD from the stalk, leaves, and flowers. Both of course have health benefits, explained further here.

MEDICAL RESEARCH

In the U.S. there are restrictions that limit the amount of research on cannabis and the effects on the body, but here is an upcoming study on the effects of CBD on the mind’s creative flow.

Other countries have taken the lead in the number of studies performed and Israel stands at the forefront of cannabis research. Raphael Mechoulam at Hebrew University conducted studies starting in the 1960s.

More recently, in 2017, the School of Pharmacy at Hebrew University conducted research on the effects of cannabis on pain, cancer, and even immunity. That same year, the Multidisciplinary Center for Cannabinoid Research was founded.

PRODUCT DIVERSIFICATION

As the market for CBD grows and evolves, companies are getting more creative with product offerings and ingredients. Combining other healthy plants and vitamins with the properties of CBD creates an even more effective and multi-faceted product. For example, pairing CBD with melatonin provides excellent anxiety relief and is a natural sleep aid. To learn about all of the amazing ingredients in our products at The Happy Labs, please see our Health & Wellness Dictionary: Plants + Vitamins + CBD.