One of the defining traits of America has always been our preponderance of entrepreneurial spirit.
People from all over the world travel here to take their chance at obtaining a slice of their own version of the American dream.
The newest generation of entrepreneurs seems to be flocking more and more to specific industries, commonly those involved in more sustainable business practices or other organic industries.
One of the most popular and rapidly expanding industries would be that of the cannabis plant, Primarily through the form of the cannabinoid compound CBD.
Most Significant Reasons Entrepreneurs Are Betting On The Future Of The CBD Industry
There are many reasons that entrepreneurs have been drawn to this industry. It has many of the factors that make it an attractive market for new businesses.
There are few established competitors because of the regulatory history of these compounds, so there is little barrier to entry for many businesses in comparison to other industries in America.
This relative lack of restriction to new entrants has allowed many entrepreneurs to strike out on their own for the first time.
Another major factor was the introduction of the recent 2018 farm bill, which directly changed the CBD compound’s regulatory status.
The New 2018 Farm Bill
CBD Cream is available now thanks to a legislative act that was passed two years ago.
This act reclassified him, which was ground that contained low concentrations of THC as a non-federally controlled substance.
This opened up the CBD industry to many new market participants, and since this time, new forms of CBD products have been introduced at an increasingly rapid pace to public markets.
Massive Market Opportunities
The CBD industry’s size when this bill was passed was valued at a little under $600 million.
When the bill was first introduced, the projections used to argue in its favor forecasted that the size of the market in four years, or 2022, would grow to be $22 billion.
That’s nearly a 30 times increase in the value of the market. Few business opportunities represent this rapid rate of growth.
True Health Benefits
One of the biggest reasons people have been flocking to this compound is the numerous reports of health benefits experienced by people all over the country.
It is touted as a potential treatment for many previously thought untreatable conditions such as rheumatoid arthritis and other inflammatory conditions.
Whether you have issues with your bowels, thanks to inflammation or your joints are always bothering you; these cannabinoid compounds hold the promise to providing a sense of relief that would otherwise be unavailable without the use of opiate products.
Some studies have indicated that areas that expanded their production of CBD have also seen a corresponding decrease in the prevalence of opiate overdoses.
All Natural And Organic Business
Today’s consumers are becoming increasingly concerned about the quality of the environment and the impact of the products that they purchase on it.
We all share one planet, and it is important for us to be good stewards of the resources that we have available. If we do not take care of the future now, then there will be nothing left for our future generations to inherit.
This is one of the biggest draws for many nature lovers to the CBD industry that would otherwise avoid opening businesses because of the potential impacts it would have on the environment.