CBD oil is probably one of those products that you’ve seen cropping up everywhere – particularly within the field of e-commerce. But of course, it’s one that’s surrounded by plenty of rumours and misinformation too. Here, we look at the facts behind CBD oil – and why it’s set to become even more ubiquitous in the months and years to come.
So, let’s start with the basics. CBD oil, as you probably know, is extracted from the cannabis plant. But unlike THC, which has intoxicating properties, CBD oil is legal. In fact, many believe that it’s an effective treatment for a wide range of conditions, from anxiety disorders to chronic pain and much more.
As products containing CBD oil become more and more popular, experts predict that the surrounding industry could be worth as much as $20 billion in the next three years. So what’s behind this seemingly niche product’s meteoric rise? Well, for starters, part of its success is down to its popularity across multiple industries. Now, you can find CBD in everything from bath bombs to pet food, and this will likely only increase over the coming months and years. And as it spreads across different mediums, more people will try it, increasing their potential to become regular consumers of CBD in other forms.
But that’s not all. One of the reasons behind the CBD boom is the fact that the ingredient only became legal in the US and the UK back in 2018. As a result, we are only just seeing some products, which may have taken years to develop, hit the market. And because a lot of CBD-based ventures have only just taken off, efficacy studies are still coming in. As these continue to support the positive benefits of CBD oil, it’s likely that the industry will continue to go from strength to strength.
Finally, another factor in the rise of CBD oil is the role of social media and other influencers in this trend. In the early days of the industry, many were reluctant to become involved with such a controversial product. But as it gains mainstream success, plenty of Instagram stars, YouTubers and celebrity bloggers are jumping on the bandwagon, creating a snowball effect.
In other words, CBD oil-based products look set to continue to grow in popularity over the coming years – making them a savvy choice for any budding entrepreneur.
