Due to its therapeutic properties, CBD oil has seen an immense and aggressive rise in popularity in the last 2 years. Although this is true, CBD has been legally obscured for years, causing much controversy over obtaining or re-selling CBD products from state to state. Despite the legal uncertainty on CBD, the demand for such products brought in a whopping $350 million in consumer sales in 2017. The addition of legalized industrial hemp to the 2018 Farm Bill will only scale the CBD industry to new heights.
The big takeaway from this act is that this Farm Bill will remove hemp and any hemp derivative from the Controlled Substance Act, separating hemp from being classified as the same as marijuana and delegates all supervision of CBD to the Department of Agriculture. The three main uses that the legal hemp will be produced for will be fiber, for paper and cloth, hemp seeds for hemp oil and food, and cannabinoid oils.
With this all in mind, 2019 is projected to be a massive year, not only for the hemp industry, but for the consumers that benefit from the healing properties of CBD. Hemp products will be more regulated and established within the marketplace, making it easier to obtain for end consumers, more profitable for producers and suppliers, and less obscure for vendors and retail shops, that will no longer have to worry about any issues with legality.