A non-psychotropic substance contained in hemp, have recently gained huge popularity in the U.S., becoming a billionth industry. BBC Capital is researching the legislative, scientific and commercial aspects of this phenomenon.
Electronic cigarette and viper fluid, pain-relieving creams, patches and candy for all tastes (chewing bears and snakes, colorful pastel), as well as capsules and blends.
Cannabidiol, better known as CBD (CBD), CBD has recently gained such popularity in the United States that it is difficult to imagine a place where it is not sold or a disease that it does not treat.
Users say they take it for muscle pain, arthritis and anxiety. CBD helps in epilepsy and post-traumatic stress disorder.
There is, for example, bacon-flavoured CBD oil for dogs, of course.
When and how it can be allowed in Ukraine
According to Brightfield Group, a marketing firm engaged in CBD market research, next year the production cost of this product will be $5.7 billion, and by 2022 this figure will increase to $22 billion.
Bethany Gomez, head of the research group, notes that Charlotte’s Web Holdings, the market leader in CBD products, grew 172% between 2016 and 2017 and reached $899 million in 2018.
Not surprisingly, this controversial sector is actively attracting the attention of investors, including from rather unexpected industries.
For example, Coca Cola recently stated that it is “closely monitoring how non-psychotropic CBD
is added to health beverages around the world”.
However, Coca Cola refused to provide a more detailed commentary.
When Brightfield Group published its industry forecasts late last year, many were surprised. But three days later, the media reported that Coca Cola was studying the production of CBD, and all questions fell away.
“If you look at the total sales volume of all CBD products today, and add online retailers and pharmacists who dream of becoming players in this market, you can expect tremendous change.
In the vanguard
Zholt Chenka is one of the fans of the new industry. He is the founder of Adriaen Block, New York’s first CBD restaurant and bar.
Chenka says he creates low-alcohol berry and herbal cocktails with recipes from the 16th-17th century. But he also adds CBD oil to them, thus combining tradition and modernity.
“One or two cocktails with CBD reduce stress and allow you to achieve a pleasant relaxed state, which is certainly better than four or five glasses of whisky, followed by alcohol intoxication,” explains Chenka.
His restaurant CBD also adds to sauces, such as the pepper sauce served with New York steak or French demiglas, berban and béarnaise sauces.
But what does science say? Apart from a rather vague concept of “healing”, there is no concrete evidence of how CBD affects the human body yet.
Who’s the buyer?
Who exactly buys products with cannabidiol? According to a survey of 5,000 CBD consumers conducted by the Brightfield Group last summer, millennials were the first to start buying CBD after it was legalized in different states.
They were followed by customers in their early 30s, with demand declining among 40s, but rising again in the 50s to 60s age group.
The latter category of customers are primarily interested in tinctures, creams and capsules used in diseases associated with aging, such as arthritis or chronic pain.
Among CBD consumers there are approximately equal numbers of women and men, however, as Gomez notes, before there were more women.
And now pay attention! Products with CBD content are sold in the U.S. almost everywhere, but buying them in all 50 states and in any form is against the law.
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