Demand for CBD (cannabidiol) has been rising so rapidly that companies are rushing to incorporate it in their manufactured products, either edible or non-edible, but the CBD they’re receiving isn’t of superior quality.
In the month of December, the government legally approved the use of industrial hemp in specific regions. Along with this, they also approved hemp-derived CBD that generates the soothing effects of marijuana without the aggressive effects of THC consumption.
Cowen—an investment research firm—released a report based on the Year 2018, which provides the anticipated annual retail sales between $600 Million and $2 Billion for CBD-based consumer products across the U.S. The forecast reveals that by the Year 2025, the sales would possibly reach $16 Billion, with the leading share in healthcare and medicinal department.
The product supply chain, starting from raw material as plants, then CBD extraction, and later to labs for successful incorporation in products, is challenged with many concerns. And the emerging company is focusing to resolve the knots along with the efforts to manage in the increasing demand, leaving hemp-growers irritated and customers trapped trying to sort out effective products from ineffective ones.
After the decades of innovative farming practices and training, staple crops such as wheat and corn have been managed to grow effectively. Farmers are aware of the requirement and guidelines to grow crop plants. But in the case of hemp like crops, no guidelines and strategies have been set so far.
Majority of the farmers have been using quite intensive and expensive strategy to grow hemp, similar to the plantation of tomato. This strategy works better for marijuana production, as it can be examined through the appearance and smell of flower that is unrelated to the quality and concentration of CBD present in the flowers.
Actually, industrial hemp-based CBD extraction is quite expensive due to its extremely low concentration, which requires a quite long extraction process to get a considerable amount of CBD.