The Rise of CBD During an Increased Focus on Mental Health
The past year has pushed just about everyone to their limits. Dealing with sudden change and being forced to make lifestyle adjustments has taken a tremendous toll on society. It’s one thing to leave your mask in your car, but many have experienced great loss. Under these circumstances, mental health has been brought to the forefront of conversation. As a result, people are desperately searching for ways to decrease stress, increase happiness and improve overall health. Some are turning to products such as CBD oil to promote homeostasis in the body and reap various benefits.
Because of its perceived positive effects, Cannabidiol (CBD) has been sought out more than ever during these stressful times. Currently, U.S. CBD market size is estimated at $14.9B by New Frontier Data and according to Daedal Research:
The US Cannabidiol (CBD) market is expected to rise significantly during the period 2020-2024. The market is expected to be driven by various growth-enhancing factors such as aging population, the growing use of CBD among millennials, increasing prevalence of arthritis, removal of hemp from the Controlled Substance Act, etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are lack of regulatory clarity and ineffective and unregulated products.
With CBD having many applications and just as many formats, it’s no surprise that the industry is projected to grow at 107% CAGR through 2023.
Companies like Beneficial Blends, the leading turnkey co-packing partner specializing in bringing products with beneficial health attributes to market, have helped people of all ages maintain comfort during these times by releasing their newest brand, Chillax’n CBD. Beneficial Blends has an outstanding reputation as an industry expert because of our 4-Diamond Approach, which puts a laser-focus on quality, transparency, and social impact.
Mental health is an incredibly broad topic that in one way or another directly affects our emotional, psychological, and social well-being. It affects how we deal with stress, relate to others, and make healthy choices—basically how we think, feel, and act. As a result of the prevalence of mental health issues experienced in the world today, naturally it’s in our nature to seek out methods and find ways to reduce the negative impact of the daily struggles. However, in today’s culture, especially in media, you turn on the TV or browse the internet and are overwhelmed with annoying pop-up ads, “miracle” products and an abundance false claims and misinformation.
Organizations like the FDA and HIA are key players in the future of industry regulation and growth. Their efforts, from the lab to the congress floor, are shaping how manufacturers are producing & distributing CBD.
CBD is not intended to diagnose, treat, cure, or prevent any disease, and any claims regarding such purpose(s) have not been evaluated by the Food and Drug Administration. Consult your physician before beginning any regimen with any CBD product.