Business

clock author BAS Research

With the rise of CBD use in medicine, companies must start preparing themselves for the future CBD market. Especially now, after the legalization of Hemp with the Farm Bill – law approved in 2018.

 

With CBD’s sudden and fast expansion, Farm Bill was just the beginning of the CBD Market, which helps thousands of people around the world.

The Future CBD Market

CBD’s Current Regulation

 

The CBD expansion surpassed the substance’s regulation. With the legal change about to come, companies must be aware of the new license and sales regulations.

 

Today, there are no significant regulations on CBD extraction and manufacturing. As an example of current control, there’s the Farm Bill, which considers only Hemp as legal CBD. Hemp can be essentially considered cannabis, but with less than 0.3% THC in its composition. According to this law, CBD is not legal when it comes to the sale of some products, such as edibles.

 

With the CBD market expansion, regularization is very important, especially with the rise of CBD in medicine. So, regulation is critical for thousands of people. There are even companies awaiting the FDA’s position on CBD regularization.

 

In order to achieve a new level of efficiency and improve the CBD market, the industry must reach its peak. Despite a large number of CBD oil suppliers, the industry is still somewhat constrained by the lack of regulation. This leaves investors, banks, and executives in doubt about the CBD market.

The Future CBD Market #2

The Future CBD Market

 

As the market doesn’t stop growing, companies are increasingly organizing themselves for new requirements that the FDA may apply soon.

 

It is essential to pay attention to ISO-9001, a 1987 international quality protocol which is mandatory from the date of its publication. It documents the lifespan of plants used in manufacturing, from planting the seed to extracting its components.

 

To further increase the quality of products, it is also necessary to maintain the ISO 6 standard. This 1962 protocol focus on the cleanrooms, which is the quality control required for the production of medicines.

 

When it comes to Cannabis quality, there is a list of residual pesticides that are accepted by law.  Maybe in the future companies will have to adapt to a new planting model, with fewer pesticides and more natural plantings.

 

With the imminent advance of the CBD market, regulations are expected to strengthen it, especially concerning manufacturing. Increasingly rigorous regulations on CBD oil extraction and manufacturing processes will make retailers look for manufacturers that are already within the new standard.

 

Like that, more and more high-quality products will reach the end customer, helping people who need CBD oil for treatments. By increasing production, product prices may fall slightly. 

 

The current FDA-approved CBD regulation only addresses the Epidiolex drug, the first CBD based remedy that treats epilepsy. The FDA has not yet approved other uses of CBD.

 

However, after hearing the general outcry, a public hearing was scheduled on May 16th of this year to discuss important points of CBD regulation, such as safety, manufacturing, product quality, marketing, labeling, and the sale of products that have in its composition Cannabis or compounds derived from it.

Conclusion

 

Companies must be aware of the future CBD market because it’s not that far away. Moreover, CBD will increasingly have medicinal visibility, especially given its therapeutic properties. This visibility is significant for medicine and companies since, besides increasing production, it helps society. With more CBD based product sales, more stigmas and taboos are deconstructed.

 

In addition to that, with the legalization of Hemp there was an increase of hemp-derived CBD use in several products. Since there is still a lack of regulation for this cannabinoid, consumers must be aware of the quality of their hemp-derived CBD product. 

 

At BAS we extract our oil from the Cannabis plant, which is not legal in all states. But our partner AcornCBD is a great option for companies looking for hemp-derived CBD oil. They are a new company that sells wholesale CBD oil of the highest quality.

Disclaimer: This information is not intended to diagnose any medical condition or to replace your healthcare professional. Consult with your healthcare professional to design an appropriate treatment for your medical condition.

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