Has CBD become the new “go to” substance consumers are swarming to? CBD is derived from hemp, or marijuana, and does not have the same effect as its cousin THC. The fans of CBD say it helps reduce inflammation, is calming and, more importantly, does not impair cognitive function. The word keeps spreading about the positive uses for the cannabis product. So perhaps it is.
Armed with these benefits CBD becomes a marketer’s wet dream. The health conscious consumer seemingly welcomes this as a desired additive to foods, drinks, lotions or almost any product. Although certain states in the United States have been open to cannabis in their products for some time. Canada has legalized cannabis only in the last few years, but that country has been more cautious about cannabis in consumer products generally. Those restrictions are loosening this year and will cannabis infused products will become more available soon to consumers there.
Canopy Growth (WEED:Cn) made a splash with their purchase of seventy two percent of the shares of sports drink producer BioSteel Sports Nutrition Inc. (TSN Article). As the product continues to gain momentum access to CBD is a key to its future success. No doubt the security of supply was a big factor motivating this deal.
More options infusing cannabis will undoubtedly arise. Canopy’s purchase is not the only venture gearing up for the perceived opening of this consumer market. As the wave begins to build, others will aggressively enter this space as well (Market Realist article). Companies such as Aphria and Aurora are not idly sitting by. Each have started long ago at bringing their vaping or edible products to the market. Each positioning themselves to join this market.T
Even soft drink and wine/beer producers look at the benefit of adding CBD to their stable of consumer products. Success means access to more consumers. A serious hurdle though facing the people hoping to break into this market is taste. The prize is big so they will find a way to overcome in time.
It seems that one of the hurdles that snags those in the cannabis industry is reliable positive scientific studies to point to. As a controlled substance, much of the research could not be conducted in the past. The snarls of national regulations or provincial or state is significant. Removing those impediments is slowly happening in North America as noted in an article in HealthCare+ (Healthcare Article). In the meantime positive experience from consumers must suffice and word of mouth helps spread the word about the effects of CBD to other consumers. All without recognized clinical studies to support the advertising claims.
Research has been happening in faraway places though like in Israel. Research like has been done by Professor Dedi Meiri which is adding knowledge to our data base. His Tedx speech describes how his research is giving new hope for cannabis treatment for cancer. Interestingly he asks the question what strain of cannabis gives the best outcome. Another point which the North American cannabis companies may start honing in on in the future too.
The cannabis world is opening and it’s coming quicker than you might think.