We’re nearing a new market of herbal products that are used to bring wellness to an overworked, and ever-stressed society.
The sudden boom is kind of confusing to many of the outsiders of this niche. So a lot of questions are popping up in everything from local news stories to the New York Times.
However, just a little math can explain why farmers and suppliers are excited about CBD.
To make CBD, farmers can grow up to 4,000 hemp plants in an acre. A single hemp plant can make about a half kilogram of plant material for CBD extraction.
A half kilogram of this cannabis plant material can yield about 75 grams of CBD. That much CBD can make about 350 bottles of a muscle cream or tincture, which each typically hold about 200 milligrams of the compound.
That means a single acre of hemp can make roughly one million bottles of CBD. This makes for a large incentive to grow and sell.
The year of hemp jubilee has arrived, roughly 80 years after Uncle Sam locked the maligned cannabis variety in the federal attic. American farmers can officially play the hemp game—so says the 2018 farm bill—and for prospective growers facing a chain of hemp management questions, invaluable answers are found in fellow farmers' fields. Whether seed, fiber or cannabidiol (CBD), hemp growers share a colossal commonality: They are all learning on the go.
The quick grow nature of the plants makes them especially appealing as well. The plants grow rapidly, and approximately 60 days after planting, the hemp for fiber is ready for harvest.
Human and Pet Products
On to the Market side of things.
These products have an incredible variety of appeal. Not only are people looking at using muscle creams to help athletes, but there's also a canine side to them as well. In the year 2019, there are thousands of companies that offer CBD products for pets. Here is the recently published list by Forbes Magazine of the top 50.
Bloomberg Business actually posted an article in July that discussed the rise of pet products in the niche. Forecasters estimate that almost 10% of CBD could soon end up in products for your furry friends. This is how the market is being determined at the moment, and it's quite an impressive number if you consider how little we knew about our pets' reactions to cannabis-related products.
By 2023, the CBD market for pets is estimated to pull sales numbers near 1.7 billion dollars.
The regulatory situation is still murky for CBD—the Food and Drug Administration hasn’t yet ruled it’s safe to put it in food or drinks, and there are no approved pet products—and its benefits are largely unproven. But that hasn’t stopped pet owners from embracing it as an all-natural way to alleviate a wide range of creature ailments, including pain, arthritis, and anxiety, without getting them high.
What The Experts Have To Say
Veterinarians have varying recommendations when dealing with CBD in their patients.
The experts believe that there is something happening to remove the sense of pain or stimuli, but they're not one-hundred percent certain about these factors yet.
In a Yahoo News Article posted yesterday, a leading veterinary expert said, "if you choose to give your dog CBD, I recommend people use a pet-specific product just so that they know that the concentration is appropriate, that there's nothing else in it too... because look, this is a fairly unregulated industry.”
This statement certainly lends itself to the fact that there are a plethora of companies out there trying to earn a piece of the pie. However, the market will truly see if the less-transparent ones will survive in the coming years.
We hope you'll be able to choose the best products with or without the FDAs help in the coming years. Thanks for reading!