CBD oil and what you need to know about it?
What is CBD?
CBD It is the known counterpart to tetrahydrocannabinol (THC), the main intoxicating chemical found within marijuana, but it doesn’t possess any psychoactive properties. This means it doesn’t cause the same distortion of time, altering of the senses, and What it lacks in its ability to intoxicate its users, it makes up for in its ability to alleviate, and in some cases, counteract certain diseases such as depression, anxiety, insomnia, and ADHD.
What’s the difference between marijuana and CBD?
Marijuana has long been a taboo product—if manufacturers dared to call it a product at all. This plant typically has a high percentage of tetrahydrocannabinol (THC), the component of marijuana known for its psychoactive properties, and a high percentage of cannabidiol (CBD). The plant itself is most well-known for its ability to get its user ‘high’.
The hemp plant, however, while it is closely related to the marijuana plant, is characterized for being low in THC content, yet still high in CBD content. These subtle, yet significant differences open the door for this substance to be included in a myriad of products across industries from pharmaceutical, to wellness, to cosmetic.
CBD is in such large demand because it can treat myriad of ailments with virtually no side effects.
The legal implications of CBD
Despite its significant difference from THC, hemp and by proxy CBD oil, hasn’t escaped its taboo persona.
Up until recently, CBD oil was considered a schedule 1 substance. This means that CBD oil and all of its constituents were in the most restrictive class of controlled substances, right alongside heroin, LSD, mescaline (peyote), and methylenedioxymethamphetamine (MDMA) otherwise known as ecstasy.
As of September 2018, CBD schedule 1 classification has been reconsidered, and the substance is now classified as a schedule 5 substance. Schedule 5 substances are typically used for antidiarrheal, antitussive, and analgesic needs. Essentially, CBD is considered to be in the same category of Xlax or acetaminophen.
Additionally, the current Food and Drug Administration’s Commissioner, Scott Gottlieb, expressed concerns about mainstream drugstores like Walgreens and CVS including CBD products in their product portfolios. This concern was in response to these stores announcing in March 2019 that they planned to stock CBD products like creams and salves in some (unspecified) stores.
With recent changes to laws, for the first time, CBD and hemp oil is beginning to be distributed onto shelves of mainstream stores. This recent change requires retail outlets as well as manufacturers to consider the legal and regulatory implications for dealing with such substances, and, if they do choose to carry such products, they must make sure they are always in compliance.
The state of the industry
The Food and Drug Administration certainly recognizes the increased focus on CBD and hemp oil products. They even acknowledge the potential opportunities that CBD and CBD-derived products can offer retailers and manufacturers.
As of now, businesses that carry skin care products infused with CBD oil is considered to be much less risky with if it is infused with skincare and cosmetic products.
Planning on launching a CBD product?
Whether you’re hoping to move into the CBD space, or you include CBD as an ingredient in one of your skincare products, there are few things you need to do before launching your business.
1. Understand and Comply with the Laws and Regulations Regarding CBD.
2. Develop a strong business plan.
3. Identify the right suppliers.
4. Create and upgrade your site.
5. Establish your Brand.
The business of selling CBD products is relatively new and could fly really high if the U.S. government lightens its restrictions on cannabis-related products. Although things are pointing that direction, it’s still hard to be certain until it actually happens.