The Cannabidiol (CBD) industry is a high growth global investment category expected to reach at least USD$12B by 2024.
Global demand for cannabinoids has skyrocketed due to encouraging scientific research on CBD, as well as from a momentous shift away from traditional western medicine towards more holistic, natural sources of treatment and preventative care.
- Current CBD supply projected to meet only 5% of global demand by 2020
- Global CBD market estimated to reach $12B by 2024
- Legal sales estimated to reach $3B in the United States by 2019
Cannabidiol (CBD) history & background
There is a long and storied history behind hemp and its relationship to humanity that dates back to as early as 8000BC. Until it was outlawed by the Marihuana Tax Act of 1937, hemp was widely recognized as an important dietary staple since it contains cannabinoids, which were understood to be critical in maintaining optimal health and overall well being. Most people have no idea that they have dormant cannabinoid receptors in their body; and, that without a source of cannabinoids, these receptors are never turned on. The U.S. Pharmacopoeia listed cannabis as the primary medicine for more than 100 different illnesses or diseases prior to 1937.
With such widespread uses, it begs the question why this plant was banned. Essentially, hemp was placed into the same category as its sister plant, marijuana, as part of The Marihuana Tax Act. While marijuana and hemp are both derivatives of Cannabis Sativa, they are very different plants. Although both the marijuana and hemp plants produce cannabinoids, the marijuana plant also produces THC (delta-9 tetrahydrocannabinol), a psychoactive compound responsible for generating a mind-altering “high” when broken down by heat and introduced to the body. By contrast, hemp plants do not produce the psychoactive compound THC, but do produce around 100 other cannabinoids with proven beneficial uses. Changes in legislation that have permitted production and consumption of cannabinoids mean that CBDs are now accessible on a global scale.
At Blue Sky, we breed industrial/agricultural hemp specifically for the purpose of developing whole, pure, and effective Cannabidiols (CBDs) to supplement a healthy lifestyle.
The Prevalence of Hemp before 1937
- The majority of ship sails were made from hemp up until the late 19th century.
- The principal base for all fabrics and textiles was hemp until the late 1800’s.
- The majority of all paper was made from hemp until the late 1800’s.
- The majority of rope was made from hemp until the 1930’s.
- The primary base for paints and varnishes was hemp seed oil until end of the 19th century.
- The primary oil for lighting lamps was hemp oil until the beginning of the 19th century.
- The U.S. Pharmacopoeia listed cannabis as the primary medicine for more than 100 different illnesses or diseases until 1937.
Several scientific and medical reports and research document clinical trials and show the immense efficacy of CBD products for a full spectrum of mental and physical ailments.
Browse research and reports here by topic:
Neurodegernative diseases – Alzehiemers
Acute and Chronic Pain
Anxiety Disorders – PTSD , Social Anxiety