In an effort to prevent the further spread of COVID-19, people have been mandated to stay at home for several weeks now.
Businesses are closed, people are losing jobs, and there is quite an uncertainty about the future. This global pandemic is a rapidly evolving situation, affecting everyone directly or indirectly.
Stress and anxiety rise as individuals adjust to the new norm. Amid this, people are finding ways to relax, and as a result, the CBD industry has seen a huge spike in its sales.
But when the lockdown is over and the country returns back to normal, will CBD continue to keep its charm?
Why the Popularity?
CBD or cannabidiol has been in the spotlight for a while now in the health, wellness, and beauty world. CBD is derived directly from the hemp plant, a cousin of the marijuana plant. Hemp plants are cannabis plants that contain less than 0.3 percent THC, which is the compound responsible for providing “high”. Therefore, CBD products have no psycho-active triggers.
Pre-pandemic, anxiety disorders – such as GAD, SAD, PTSD, and OCD – have been considered the most common mental illness in the U.S. according to the Anxiety and Depression Association of America. Every year, it affects 40 million adults age 18 and older, or 18.1% of the population.
Today, the outbreak of the new coronavirus may take an emotional toll on a number of individuals. There are many ongoing studies of CBD in relation to stress and anxiety and this may be the reason why people are trying to explore it.According to US FDA, “There is a significant interest in the development of therapies and other consumer products derived from cannabis and its components, including cannabidiol (CBD). FDA recognizes the potential opportunities that cannabis or cannabis-derived compounds may offer and acknowledges the significant interest in these possibilities.” Moreover, consumers are encouraged to be wary about unsubstantiated therapeutic claims of some CBD brands.
The Future of CBD
Of course, the consumption of CBD is also greatly associated with its legality. In most parts of the United States, CBD is readily obtainable. However, its exact legal status varies in terms of degrees of restriction in different states.
Recently, there has been a strong push to legalize CBD across the country because of its many benefits backed by science.
According to the Brightfield Group, worldwide CBD sales are expected to soar to as high as $22 billion by 2022. But only time can tell when it comes to the fate of CBD, and we’re yet to witness its popularity fade or grow after the pandemic.