According to the Hemp Business Journal the CBD market will grow to $2.1 billion in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources; that’s a 700% increase from 2016.
At TheraJoy we believe CBD is transformative; after seeing the benefits first hands, we realized we had to share it. This led to the development of our TheraJoy Organic CBD Salve.
Thanks to you, our users, TheraJoy is growing in sync with the larger market (i.e. rapidly). TheraJoy is available in 66 different retail partner locations and from 2 retail partner delivery services in California. We are now proudly the fastest growing CBD topical company in California.
The CBD market is primed and ready to explode
CBD is one of the more than 85 cannabinoids so far identified in marijuana and hemp. Unlike the better-known compound tetrahydrocannabinol (THC), CBD is not psychoactive, meaning it won’t cause a high. Thousands of studies have shown that CBD possesses an array of therapeutic benefits, including antioxidant and neuroprotective properties.
Thousands of studies? Yes, literally thousands of studies. Even the US government has participated in the research, under the guise of various National Institutes of Health agencies such as the National Library of Medicine.
All of this positive research turns into positive reactions in the media, like this great article from the Huffington Post, which increases public awareness and creates demand.
The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That’s a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year.
According to a recent report by New Frontier Data, the Viridian Cannabis Stock Index gained 236.1% in 2016 and outperforming such mainstream indexes as the Russell 2000 (up 19.5%), the Dow Jones Industrial Average (up 13.4%), the S&P 500 (up 9.5%), and the Nasdaq composite (up 7.5%). New Frontier Data also reported that legal cannabis sales in California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years.
A significant portion of the total legal cannabis market is the CBD market. Cannabidiol (CBD) is the part of the cannabis plant that is usually used for medical purposes, and is a natural component of industrial cannabis or hemp. Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. Bethany Gomez, the Director of Research at Brightfield Group said, “Essentially everyone is trying to do hemp, but only a handful are doing it well.”
At TheraJoy we believe CBD is transformative; after seeing the benefits first hands, we realized we had to share it. This led to the development of our TheraJoy Organic CBD Salve. While we can’t guarantee CBD will work for your particular pain, we can guarantee that TheraJoy Organic CBD Salve is an effective way to deliver CBD directly to the afflicted areas.
We offer purity you can trust, guaranteed, and we are always made with 99% CBD derived from medical grade, non-GMO hemp, sourced directly from Switzerland. We combine high doses of CBD with 100% coconut oil to create a product that is organic, vegan, gluten-free and kosher.
Remember to consult your doctor before you make any changes to your existing medication and supplement routine. This blog post is not intended to be medical advice; it is information you can use as a conversation-starter with your doctor or medical professional at your next appointment.