The global cannabidiol market is projected to grow from $3,675.1 million in 2021 to $55,791.3 million in 2028 at a CAGR of 47.49%. While COVID-19 has had its impact on CBD demand, Fortune Business Insights credits the projected substantial rise over this period to market demand and growth, coupled with the market returning to pre-COVID-19 levels once the pandemic is over.
Among factors driving CBD growth is increased government approvals for therapies, medicines and other consumer products derived from cannabis. FDA has recognized several potential opportunities where CBD may offer health benefits and has acknowledged the possibilities to infuse it in various food and non-food applications. Another factor driving CBD market growth is global recognition on the part of the pharmaceutical industry to the importance and benefits of cannabis and its byproducts. Read more
House Introduces Bill to Regulate CBD in Food
On December 2, a bipartisan group of U.S. Representatives introduced “CBD Product Safety and Standardization Act of 2021.” The bill would establish federal standards and require FDA to regulate CBD in food and beverages. If the bill passes, FDA would regulate CBD as a food additive, issuing regulations specifying the maximum amount of CBD derived from hemp per serving, labeling and packaging requirements, and conditions of intended use. The intent of the bill is to give businesses clarity and ensure unsafe products stay off the shelf. Read more
Nearly 3000 Participate in Real World Evidence CBD Study
A study “Advancing CBD Education and Science” conducted by Radicle Science sought to determine the effects of commercially available CBD. The study found that the nearly 3000 participants experienced significant improvement in well-being, quality of life, longer-term pain, feelings of anxiety, and sleep quality throughout the study period. Largest improvements were observed in the first week.
On average, participants experienced a 71% improvement in their well-being and a 22% improvement in quality of life when taking their product throughout the study. Read more
Study Looks at CBD and Stress Related Behavior in Dogs
Twenty-four shelter dogs in Rome participated in a study to determine if CBD can reduce troubled and stress-related chronic behavior. Among the behavioral disorders exhibited by the selected dogs were:
- Obsessive cage-wall licking.
- Chewing items to the point of destruction.
- Bouts of aggression causing self-injury.
For 45 days, each group received a daily oral administration of either extra virgin olive oil containing CBD-enriched extract or a placebo of extra virgin olive oil only (control group).
Significantly reduced aggression towards humans was observed within the treated group over time. However, the difference in the decrease of aggressive behavior observed between the treated dogs versus those in the control was not considered to be significant. Moreover, there was not a significant change in other stress-related behaviors. Researchers have concluded more investigation with a larger group of dogs is warranted. Read more.