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CBD Use Continues to Grow as Regulators Change Tact , bodes well for Bougainville Ventures
- According to data compiled by Grand View Research, the global cannabidiol market is expected to reach USD 9.69 Billion by 2025 while registering a CAGR of 32.6% during the forecast period.
NEW YORK, Oct. 1, 2019 — Hemp has been used for centuries for its multi-facet applications. Previously, hemp was primarily used for industrial applications such as manufacturing textiles, fabrics, and linen. The industrial segment was the largest driver for the overall hemp market, however, following legislative efforts, the hemp-derived CBD market has emerged as the primary driver. Hemp was also commonly used as a medicinal treatment for convulsions, rheumatism, dysentery, and insomnia. However, health officials around the world had deemed hemp unsafe for consumers because it was derived from the cannabis plant.
As a result, the entire cannabis plant was listed as a Schedule 1 substance solely because of its marijuana component. The marijuana plant is packed with tetrahydrocannabinol (THC), while the hemp plant is typically cannabidiol (CBD) dominant. Although the two plants fall under the cannabis family, they are widely different in their genetic makeup and effects.
THC is the compound that is commonly known to cause psychoactive effects on the consumer, while CBD is generally known to have relaxing and soothing effects. However, despite the genetic differences, both THC and CBD are known to alleviate certain medical conditions. Researchers have even highlighted that both THC and CBD can effectively treat symptoms associated with cancer, chronic pain, epilepsy, Alzheimer’s, and Parkinson’s. However, because THC causes mind-altering effects, health officials are more inclined to accept CBD as a medicinal treatment than THC. As a result, countries such as Canada, Germany, South Korea, the U.K., and the U.S. have legalized CBD for medical purposes. According to data compiled by Grand View Research, the global cannabidiol market is expected to reach USD 9.69 Billion by 2025 while registering a CAGR of 32.6% during the forecast period.
Read More: https://www.prnewswire.co.uk/news-releases/cbd-use-continues-to-grow-as-regulators-change-tact-829476982.html