Compliance issues among CBD products
CBD has faced a good amount of controversy surrounding its efficacy and abuse potential in the past. While it doesn’t give a high like marijuana or other THC-containing products, it’s been reported to help with pain and anxiety.
Nowadays, issues with payments and compliance are huge concerns in the cannabis industry, as well as other CBD-containing products. Among the issues are the exceeding amounts of CBD or THC in the products. For this issue, LegitScript comes into the rescue. They are an online service that verifies and monitors online pharmacies.
They have since launched a program that certifies websites selling CBD products that are legally compliant. As of today, USDA, FDA, and DEA- approved U.S. manufacturers and traders can apply for certification via LegitScript. Currently, the site provides a 10-page introduction regarding marijuana laws and regulations. It aims to help people understand the state restrictions and payment processes involving medical marijuana.
Having the LegitScript certification gives consumers and banks assurance that CBD merchants are compliant with state-specific laws, as well as regulations provided by various U.S. agencies. Even though cannabinoid or CBD-containing products have been made legal in the U.S., some products that contain THC in more than legal amounts are still illegal. This is why it has become difficult to pinpoint which merchants are selling compliant products.
CBD payments made easy
Even though the CBD industry has its regulation difficulties, major companies like Target and Walmart have been reported to be having discussions with CBD manufacturers. Many are also asking for lab and research results on top of CBD samples.
With this, the fact that the CBD industry is increasingly growing is undeniable anymore. Thus, digital payment companies such as Square, have gone into the CBD industry by providing access to basic financial services. This happened just when Elavon recently backed out from CBD companies.
A year after the legalization of CBD in the U.S., Square has stepped in to give businesses in the CBD industry a good financial service that makes it easier to process payments.
A growing industry
It’s been reported that over 7 percent of Americans are using products that contain CBD as of February. Cowen & Co. surveyed 2,500 adults and have found that the CBD market would be worth over $16 billion by 2025. Meanwhile, in a study by Vivien Azer, analyst, there are over 2.7% more people who use CBD more than e-cigarettes. Because of the rapidly growing industry, more people would definitely be in need of safer and more efficient payment options. In the future, more research will back up most of CBD’s health claims, thus attracting more attention from consumers. There will come a time that these certification programs will be a necessity amongst many consumers.
Unregulated Wellness Chemicals Find Acceptance from Americans
Americans easily recommend cannabidiol or CBD, even to strangers they meet on an errand or travel. Shops have popped up here and there, selling a broad range of CBD products, from tinctures to gummies to oils and vapes. Even celebrities like Kylie Jenner has endorsed a CBD-infused product, drawing many fans to try it out as well.
CBD is lauded by users for its alleged therapeutic benefits from alleviating anxiety to curing cancer. There are also varying levels of evidence to back up the different claims.
Hitting peak popularity
According to Google Trends data, CBD has hit its peak in the US last May. The search engine giant recorded more than thrice the queries for CBD than Beyoncé.
Cannabidiol is a compound identified as a cannabinoid, which are chemicals found in hemp and marijuana plants. It was largely unknown a couple of years back, but the legalization of hemp as an industrial crop in the 2018 Farm Bill has catapulted CBD to its popularity today.
Hemp is a cousin of marijuana, the substance infamous for being addictive. Both plants are from the same plant species, Cannabis sativa L., but hemp is considered as the safer, non-psychoactive compound of the two.
Although studies regarding CBD are lacking, consumer interest hasn’t dwindled. Manufacturers have already taken the initial steps to experiment with some less popular cannabinoids like CBN or cannabinol. Salespeople find it easy to market cannabinoids since there is still little information about them.
Before CBD, tetrahydrocannabinol or THC was the most recognized cannabinoid, mainly because it causes the high in marijuana. THC levels in cannabis-derived products draw the line between what is legal and what’s not. With hemp becoming legal to grow and process, the US now has its homegrown supply for CBD production.
Lack of official regulation
The Food and Drug Administration (FDA) is yet to provide detailed rules on cannabidiol, including the labeling and quality testing of the many CBD and CBD-infused products out in the market today. As of writing, CBD products are still illegal to sell as dietary supplements and as a food additive, although such product forms are widely sold domestically.
The FDA still has not provided nuanced rules, due in part to the lack of academic research on cannabis. Permission and funding to conduct cannabis studies are limited, and scientists have a hard time securing such provisions.
Ether Blessing, New York University Langone Health researcher, believes that it might take a decade to establish FDA approval of CBD as a drug. She warned that the current condition makes it difficult for consumers to know the quality and CBD content of the product they are buying.
National Academies of Sciences, Engineering, and Medicine published research in 2017 that concludes cannabinoids as a useful substance for chronic pain, nausea, and multiple sclerosis symptoms. It is one of the very few studies made on the compound.
No waiting for Americans
Despite the very little information on CBD, Americans don’t wait for formality to set in, which is why the CBD industry has flourished in a couple of years. With the cracks in the health care system, CBD products have filled the needs of the average consumer. The substance is said to be effective in alleviating several health conditions, including anxiety, nausea, pain, MS, and cancer.
However, the unique way in which cannabidiol is incorporated or sold does not necessarily mean that it is valid or if there is any CBD in the product at all. What retailers do is satisfy the consumer’s curiosity by developing novel ways to market the compound, even at the expense of the buyer.
Much like vitamins and supplements, CBD and other cannabinoids are mostly untested and unregulated, yet many Americans purchase such products. The more or less have the same reasons, such as distrust for pharmaceuticals, lack of medical care access, or curiosity about the new product.
Coca Cola Denies Rumors Regarding CBD-infused Product Development
Coca-Cola has no plans to enter the CBD market with its products, dismissing rumors about the company selling beverages incorporated with hemp oil.
Kent Landers, Coca Cola spokesperson, said in an interview with FOX Business that the speculations are not valid. He reiterated that the beverage giant had no intention of joining the CBD craze as what they have stated several times.
The rumors have arisen after a Youtube video of a man popping open a can of Coca Cola and claiming that it is infused with cannabidiol oil, a cannabis leaf extract typically used to alleviate pain without causing a high. The video has since been deleted.
About the video
The Youtube user who made the video, “Gabor the Blind Guy”, claimed to the viewers that he got ahold of the product via his father who allegedly produced capping and bottling machines for several primary food and pharmaceutical companies.
He further stated that his father was contacted by Coca Cola Canada to develop a machine that would produce childproof caps for Coca Cola cans. The company is said to release a new line of products infused with cannabidiol extracts, which are considered as cannabis-based substances as declared by Gabor.
Coca Cola was supposedly looking into a collaboration with Aurora Cannabis, a Canada-based cannabis production company. The beverage powerhouse allegedly eyed the CBD market since it grew in demand, as reported by Bloomberg last September of 2018.
Warren Buffet and Charlie Munger, CEO and Vice-Chair of Berkshire Hathway, respectively, indicated that Coca Cola joining the marijuana industry would not be right. In an interview with FOX Business Liz Claman, the experts said that entering the CBD market will be detrimental to the wholesome image that the company has kept throughout years.
Munger stated during the Berkshire Hathway Annual Shareholders Meeting held in Omaha, Nebraska that going into the cannabis market is a massive mistake for the company. The company’s image does not align with cannabis and its related products.
James Quincey, Coca-Cola CEO, dispelled the speculation in October, declaring that the company does not plan to get into the CBD space at this stage.
More about CBD
Cannabidiol oil has gained significant popularity over the recent years because of the positive reception from users. CBD is now known as an almost magical remedy that cures or alleviates pain, sleeplessness, anxiety, and more. Users claim that CBD is useful in resolving a broad range of health conditions.
However, there is still no formal regulatory framework for CBD from the Food and Drug Administration or FDA, the regulating body that is supposed to safeguard consumers from fake and harmful products. Many advocates, cannabis groups and even members of the House have called on FDA to hasten the process of providing a clear set of guidelines for the use and sale of CBD products.
The only FDA-approved medication out in the market today is Epidiolex, a drug used as an adjunct treatment for intractable epilepsy. It means that other CBD products out in the market today cannot be advertised as medication or food supplements, which makes adds to the confusion regarding the legality of the industry and the products.
CBD-Based Wellness and Skincare Products for Newbies
Active ingredients in skin care products can take hours of research, and several clinical trials to determine which ones really work. While nature-derived substances are considered safer, some allergies and skin sensitivities can still cause a reaction when using natural remedies.
Cannabidiol or CBD is the latest natural ingredient that has sparked interest in the wellness industry. It is extracted from Cannabis sativa L., the source plant for hemp and marijuana. Many questions arose regarding the application of CBD on skincare: does it work? What are the benefits of using it for wellness and beauty? Does it give a “high” when used, like in marijuana?
To clarify, cannabidiol is derived from the non-psychotropic component of marijuana. It has little to no tetrahydrocannabinol (THC) content, which is the compound responsible for the psychoactive effect of the drug. Several countries have banned CBD products, but most formulations are safe to use and have zero dependency potential.
In terms of skincare benefits, CBD can be used to soothe, calm, and relax the skin. CBD is touted to have anti-inflammatory effects, which makes it a viable cure for acne. It is also believed to bring balance to skin sebum levels, controlling breakouts. CBD, as a plant-based ingredient, is rich in anti-oxidants and reduces wrinkles, roughness, and dull skin.
It might be confusing or intimidating to start on a CBD-based skin regimen. Some factors to take note of when choosing a CBD product for skin care are the method of extraction, packaging, purity and INCI compliance.
Here are some CBD-based skincare products that you can incorporate into your CBD routine.
Cannuka combines CBD oil and Manuka Honey to provide its all-natural skincare solution. Some of their products include CBD Harmonizing Face Cream, CBD Skin Balm, and CBD Calming Eye Balm, which showcase the healing capabilities of both ingredients. The products were created for the purpose of skin therapy.
The company ensures thoughtful harvesting, sustainable sourcing, and quality. Their hemp farms are known to produce quality cannabidiol since 2014. Their Manuka honey is sourced from an established farm in New Zealand.
For evening skin routine, the Lavender CBD Face Oil from Populum is an excellent choice. It is made of full-spectrum hemp oil and incorporated with lavender to give a calming sense while also working towards reducing signs of aging. The effect is a more youthful and radiant skin after applying during the night.
CBD and lavender are a good combination, which provides antioxidants, and as well as give a soothing effect for an improved mood and wellness.
Lily CBD is a company that values integrity, safety standards, and paying it forward. Their CBD-infused product, Essential Oil Rollers, is promoted as a gift item for loved ones with a busy schedule. They incorporate full-spectrum cannabidiol in their products and have travel-friendly skincare items that minimize discomfort after a long trip.
Bathing’s Cultures CBD product is Dipsea Soak, which is specially formulated to reduce stress and provide a relaxing bath experience.
Fleur Marche is known for its informative labeling and transparency of their products. The Starter Kit is their offering for people wanting to start a CBD routine, with products such as Balance Drops, Nite Nite Patch, Luxury Beauty Serum, CBD Mint Truffles, and CBD & Honey Ache and Pain Relief Stick that are best-selling for their effectiveness.
They Call Her Alfie
The premium collagen and certified CBD make They Call Her Alfie products a hit in the market. They offer fast-acting skincare on their Forever Firming Duet Set, which works to rejuvenate and reinvigorate the skin.
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