It’s difficult to pinpoint the exact moment when CBD became a mainstream remedy. What is clear to see is that it is taking the PR and business industry by storm. We have all heard about CBD, the cannabis derivative, but how much do we really know about it? And more importantly, how did it become a $1 billion industry? The CBD PR pros at BLND Public Relations break down the buzzworthy cannabinoid and its skyrocket to the top.
CBD Products and Benefits
CBD has popped up in almost every industry you can imagine. Dog treats, essential oils, lattes, lip balm, and face serums only scratch the surface of products that include CBD. Large retailers like Walgreens and CVS have jumped on the bandwagon by investing in the industry. From millennials to baby boomers, consumers are drawn to products containing cannabidiol for their therapeutic properties. CBD is widely marketed to aid in the treatment of sleep disorders, anxiety, and immune issues. More recently, beauty and skincare benefits have also been widely seen in the CBD PR industry.
The Science Behind CBD
Early studies have shown that CBD has helped effectively treat patients with epilepsy. In June of 2018, the FDA approved the first CBD drug, Epidiolex, acting as a huge step forward in the healthcare industry. CBD works by increasing serotonin production, one of the most common neurotransmitters in the body. CBD binds to serotonin receptors to control blood pressure, regulate the human growth hormone, inhibit fear/anxiety, and moderate the oxytocin hormone.
How CBD Became a $1 Billion Industry
Within the past 5 years, consumers have shifted away from pharmaceutical companies and have become increasingly more interested in natural remedies. Earthly and naturally derived, CBD is the perfect alternative to a traditional health regimen. Specifically, women are heading up the CBD industry. For years, they have felt ignored and overlooked by the medical and healthcare industry. In fact, research shows women experience longer wait times, their conditions are more likely to be linked to hormones or anxiety, and are 50% more at risk of being misdiagnosed than men are. Thus, many women have lost faith in the traditional pharmaceutical industry, and have turned to CBD derivatives for a more natural cure.
With the majority of consumers now searching for natural remedies, the FDA release of restrictions on CBD usage, and the heavy marketing of CBD across a variety of fields, CBD is seen as a holy grail ingredient. Currently coming in as a $1 billion industry, the CBD industry shows no signs of slowing down anytime soon. In fact, a new study published by Forbes predicts the CBD market will reach $20 billion by 2024. And with a marked increase in CBD-based brands across the public relations industry, we’re placing big bets that the health and beauty remedy is here to stay.
You heard it here first; check out BLND PR’s early spotlight on the CBD industry here.