The Latest and Most Popular CBD Oil Facts and Statistics
The World Health Organization (WHO) declared CBD safe for use in 2017, and the UK officially classifies it as a medicine. The FDA has approved the use of Epidiolex to treat certain forms of epilepsy.
There are many misconceptions about CBD oil, including that it’s illegal, it’s only used to get high, and that it has no actual benefits.
This article goes over CBD oil facts to clear up those misconceptions. Learn the truth about CBD oil products here.
CBD Oil Facts
CBD oil is a cannabinoid from cannabis (marijuana) plants. It’s made by extracting CBD compounds and mixing them with hemp oil or similar oils like coconut.
The number of Americans who have tried CBD products is 64 million, over a quarter of the U.S. population. Around 40% of those users were 18-29 years old.
There are three types of CBD oils:
- Full-spectrum
- Broad-spectrum
- CBD isolate
Full-spectrum contains other extracts like THC, amino acids, and essential oils. Broad-spectrum contains the same extracts but without any THC.
CBD isolate contains only CBD compounds. According to current research, CBD isolate offers fewer health benefits than full or broad and requires an exact dosage.
CBD Oil Health Facts
Unlike woo-woo products that make dubious medical claims, CBD’s health benefits are backed by verifiable scientific research. Health benefits include:
- Pain relief
- Insomnia relief
- Reduce anxiety and depression
- Decrease inflammation
- Reduce acne
Over 64% of the CBD market is used for pain relief, as per SingleCare’s data. The next most popular uses are anxiety with 49%, and insomnia at 42%.
Surprisingly, 22% of users surveyed by ConsumerReports said they replaced prescription and over-the-counter drugs with CBD. One-third used it to replace opioids. This has triggered researchers to study using CBD to fight addiction.
CBD Business Facts
Is CBD oil legal in all 50 states? The answer is yes, to a point. The legality depends on the types of CBD oil.
CBD from hemp with less than 0.03% THC is legal in all states, except Idaho. CBD from marijuana with over 0.03% THC is legal in some states for recreational and/or medical use.
According to SingleCare’s data, the top CBD selling states are:
- California: $730 million
- Florida: $291 million
- New York: $215 million
The global CBD industry is currently at $4 billion and is projected to hit $24 billion by 2027.
For an up-and-coming market comparison, the global cryptocurrency industry is forecast to reach almost $5 billion in 2030, according to Allied Market Research.
CBD Products Facts
While CBD is safe for use, some CBD sellers mislabel their contents or mix the CBD with potentially harmful compounds like fentanyl or synthetic cannabinoids.
As per ConsumerReports, the most popular places to buy CBD products are:
- Dispensary: 40%
- Retail Store: 34%
- Online Retailer: 27%
- Other: 12%
The best CBD oil products come with a certificate of analysis (COA). Federal and state oversight on CBD can be minimal, so a COA is the best way to guarantee your CBD product.
The company will assign each company a batch number or QR code, so you can reference individual products with the COA.
When you purchase from an online retailer or retail store, look for the COA. A reputable company will make it easy to find.
Buy CBD Oil the Safe and Easy Way
Now that you know the CBD oil facts, you can confidentially buy the best CBD oil products. CBD does more than provide a high (or no high at all), it has many health benefits, and its state and federal restrictions are getting less and less strict with time.
For more tips and truths on health benefits, check out our Health articles in the Lifestyle article section.
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