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Every industry has its ups and downs, but one that is seeing much success as of late is CBD production and industrial hemp farming. If you’ve been wondering about where to make your investments or considering a new start-up venture, it could be worth your time to consider how the CBD business could be a good bet. Here are a few reasons as to why this industry is doing so well.
Legalization
There have always been advocates for the use of marijuana for both recreational and medicinal purposes, and their efforts to legalize cannabis paid off. California was the first state to legalize medicinal marijuana back in 1996, but it wasn’t until 2012 that it become legal for recreational use, Colorado being the first state to pass this law. Although it isn’t legal in every state, and only a few have fully legalized cannabis for both uses, this step forward has certainly led to a surge in sales for CBD products, and more and more studies are being undertaken to delve deeper into the effects of cannabinoids for pain relief, anxiety, depression, and many other conditions.
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In the early to mid 20th century, marijuana certainly didn’t have the best reputation with the wider population. There were many regulations and laws surrounding drug use, and cannabis became associated with criminal behavior, not considered to be used by up-standing citizens. However, towards the latter half of the century, though there were still many (and are today) who had their reservations about marijuana, it became more widely accepted amongst the younger generations, even if it still wasn’t legal. This is still true now, and because of its legalization in some form or another in most states, it is seen more widely as a natural remedy to ailments and even a preferable alternative to alcohol for some.
Farming
There is plenty of land to use for farming in the United States, and hemp has been used not only to produce CBD products, but it can also be used for clothing, ropes, fuel, and many other useful items. There has been a big rise in industrial hemp farming in recent years, and a good example of this can be found at CopeCBD.com, the largest industrial hemp farm in Colorado. Thanks to this new demand for such products, more jobs have been created, helping to boost local economies. It doesn’t appear as though this will change anytime soon, either, with statistics indicating that hemp farming and demand for such crop quadrupled in 2019. With plenty of crops to go around, it’s no wonder there are more and more CBD brands appearing on the market.
Natural
As mentioned above, many people are drawn to the use of CBD products, as they are natural remedies for a multitude of issues, not just because people enjoy feeling high. There has been a rise in people seeking more holistic methods to treat illnesses in recent years, as well as an increased interest in organic living. This could be another reason the industry is doing so well.
If you’re thinking about starting a CBD business or hemp farm, this might be the perfect time to begin your new business venture.
