We’re hearing more about CBD as this industry
continues to evolve and expand. And, as we know, CBD is a cannabinoid
that belongs to the cannabis plant, and commercial CBD products come from hemp,
a member of the cannabis genus that’s low in CBD compared to marijuana. Many of us have already experienced CBD for ourselves
through products like tinctures, vape oils, edibles and even topicals.
But we also know that the hemp plant is rich in a wide
spectrum of compounds, and that CBD is just one of them. So, what about those other compounds? Most of us have heard of the terpenes that
are native to cannabis, but besides those, we also have many cannabinoids
beyond CBD. Are any of them worth
Well, as it turns out, there are people out there that are beginning to look into CBN, another cannabinoid that exists in hemp. Read on to find out how this compound is very unique while still sharing many similarities with CBD.
Question on everyone’s mind: which one is better?
The Unique Chemical Composition of Hemp
The hemp plant, as we already stated, is rich in a
wide variety of unique compounds, including cannabinoids, terpenes and
flavonoids. Also rich in nutrients like
vitamins and essential fatty acids. But,
it’s the cannabinoids in hemp that make this plant so popular as of late. CBD is the leading cannabinoid in hemp, of
which there are many. Because CBD is the
leading cannabinoid in hemp, it’s the most popular.
We would like to point out that when we talk about CBD
products, we’re not always talking about just CBD. Many products that claim to be “CBD” actually
contain all of these compounds within their formulas. See, there are three different kinds of hemp
extracts: full spectrum, broad spectrum and CBD isolate.
Spectrum CBD: Naturally contains every single plant
compound found in hemp, including CBD and THC, although the THC level is too
low to get a person high.
Spectrum CBD: Contains every compound except for THC.
Isolate: Is just pure CBD with no other traces of
Therefore, if you’ve been using a broad spectrum or
full spectrum CBD product all this time, you’ve already experienced many
cannabinoids besides CBD itself.
Cannabinoids: What They Are and Why They
So, what makes cannabinoids like CBD and CBN so exciting? It’s the fact that cannabinoids work with the endocannabinoid system in the body. This interesting system controls homeostasis through the process of regulating all of the bodily systems.
CBD is the leading compound in the hemp plant. In other words, there is more CBD per plant than any of the other compounds, including other cannabinoids as well as terpenes. This is one big reason why it’s so popular. It’s easier to extract because it’s so naturally abundant in the plant material.
Often Used In: Vape
oils, oral tinctures, capsules, edibles, topicals, adhesive patches, skincare
products and beverages.
Price: CBD is relatively
expensive, and this is because of the fact that a lot of plant material must be
extracted to produce a single milliliter of concentrate. Exact prices vary tremendously depending on
the quality of the CBD, the other ingredients used in the formula, the
strength, the size and so on.
products are highly accessible due to the enormous popularity of this
industry. Therefore, it’s very easy to
find CBD products on the market today.
is very, very popular. Besides the fact
that it’s used by many people, it’s frequently tested in unique environments
and discussed within different industries.
CBN another cannabinoid in the hemp plant, and it’s frequently present in abundance, although not as much as CBD. CBN is slowly becoming popular as additional companies have found ways to isolate it and turn it into a concentrated extract.
Often Used In: Isolate
extracts, topicals, tinctures, vape oils.
Price: CBN tends to be
much more expensive than CBD. This is
because CBN is not as abundant in the hemp plant material as CBD. Therefore, more plant material must be
cultivated and run through the extraction process to produce CBN compared to
is harder to find due to the fact that it’s only recently becoming
popular. However, you can find it in
certain stores and online.
is slowly becoming increasingly popular, although it’s not nearly as popular as
CBD as of yet.
Is One Better Than the Other?
CBN and CBD cannot really be compared in objective
terms, because they are different compounds, and work with the body in
different ways. It’s a matter of
experimenting with each one and choosing what suits your needs best.
How to Choose
The great thing about hemp is that you’re free to experiment- try out different formulations, different administration methods, unique strains and different cannabinoid-specific products. One way to decide which one you’d like to try is by seeking out CBD isolate plus CBN isolate and testing each to compare how you like it. You can also go with a CBN-heavy strain of hemp that contains high levels of both CBD and CBN.
CBD is Far from the Only Interesting
Compound that Exists within Cannabis
CBN is yet another compound that is gaining popularity
as hemp becomes a booming business. If
you’re wondering which one is better, we can’t answer that. But the good news is you can use CBN-specific
products. While they tend to be far more
expensive than their CBD-rich counterparts, they do exist, nonetheless.
Now, if you want to test this cannabinoid out on yourself, try CBN Vape (Here).
New Zealand Cannabis Legalization Initiative Fails At Ballot Box
New Zealand didn’t legalize cannabis. They did advance a law regarding euthanasia, however.
Preliminary election results in New Zealand indicate that a cannabis legalization initiative has been rejected by voters, although some votes still remain to be counted. Totals from the election held on October 17 show that 53% of voters chose not to support the initiative, while 46% voted in favor of marijuana legalization. A second referendum to legalize euthanasia in New Zealand appeared to be headed for approval with 65% of the vote in favor, according to results released on Friday by the Electoral Commission in Wellington.
Under the cannabis initiative, possession, use, and home cultivation of recreational cannabis by adults 20 and older would be legalized. The measure would also establish a regulated market for commercial cannabis sales, and shops and cafes for the sale and consumption of cannabis would be licensed by the government.
Supporters of the initiative argued that legalization would eliminate the influence of criminal organizations in the marijuana market in New Zealand, where 80% of the population reports trying cannabis by age 20. Advocates for the measure also noted that the country’s drug laws are unfairly enforced, with indigenous Maori citizens three times more likely to be arrested and convicted on cannabis charges than non-Maori individuals.
Asher Etherington of Make It Legal New Zealand, a group that campaigned for the initiative’s passage, expressed disappointment at the election results released on Friday.
“If no voters thought that by voting down this opportunity, Kiwis would cease to consume cannabis, they have not been paying attention,” Etherington said. “The cannabis reform lobby here has fought for decades and is prepared to fight for decades more to achieve positive reform.”
Tuari Potiki, chairman of the New Zealand Drug Foundation, called for continued drug reform efforts and the elimination of cannabis criminalization, saying that punitive measures are disproportionately borne by the Maori and young people.
“Although a majority of New Zealanders did not vote for the proposed model of legalization, the debate has shown a clear public desire for legal change in some form,” Potiki said in a statement.
Prime Minister Criticised For Lack Of Support
Supporters of the measure criticized Prime Minister Jacinda Ardern, who easily won re-election in last week’s vote. She had failed to publicly support the initiative, despite admitting in a debate late last month that she had used marijuana “a long time ago.” Only on Friday did she finally confirm that she had voted in favor of the measure.
Richard Shaw, a politics professor at Massey University, said that the results of the election could have “been a whole lot tighter had the P.M. taken the position in public that we now know she took on the ballot herself,” adding that “there’s a certain measure of disaffection, frustration, and no small amount of anger that she’s now indicated she has this position and hasn’t clarified why she didn’t take this position before the election.”
Although approximately 480,000 “special votes” are yet to be counted, the chance for a change to the preliminary results when the final count is released on November 6 seems slim. On Friday, Justice Minister Andrew Little said it was “highly unlikely” that the initiative would prevail in the final results and said that the government has “no other plans in terms of drug law reform.”
CBD News Roundup: CBD Sales Could Reach $2 Billion In 2020, Report Says
Here’s the latest CBD news: According to a report, CBD sales could reach $2 billion in 2020 and triple by 2025. New York Gov. Andrew Cuomo submitted proposed regulations for CBD products. An economic recovery committee in the Bahamas has recommended legalizing hemp and hemp extracts. Table of Contents Report: CBD Sales Could Reach $2… View Article
The post CBD News Roundup: CBD Sales Could Reach $2 Billion In 2020, Report Says appeared first on The CBD Insider.
Here’s the latest CBD news:
- According to a report, CBD sales could reach $2 billion in 2020 and triple by 2025.
- New York Gov. Andrew Cuomo submitted proposed regulations for CBD products.
- An economic recovery committee in the Bahamas has recommended legalizing hemp and hemp extracts.
Table of Contents
- Report: CBD Sales Could Reach $2 Billion In 2020, Triple By 2025
- New York Files Regulations For CBD Products
- Panel Recommends Hemp and Hemp Product Legalization In The Bahamas
Report: CBD Sales Could Reach $2 Billion In 2020, Triple By 2025
Perhaps thanks to increased anxiety and stress during the coronavirus pandemic, CBD sales have skyrocketed in 2020.
In 2019, total sales of hemp-derived CBD consumer products in the US was roughly $1.2 billion, according to Nielsen Global Connect. Now, Nielsen and Hemp Industry Daily have joined forces to forecast CBD’s future in their report “How to Navigate the Complicated World of CBD in Retail.”
In the report, Nielsen projects CBD product sales will land somewhere between $1.7 billion and $2 billion in 2020. Even on the low end, this would represent close to a 50 percent increase over last year.
If the CBD industry were to receive favorable guidance from the US Food and Drug Administration (FDA) or legislation from Congress, Nielsen expects CBD to generate $8.9 billion by 2025, more than tripling in just five years.
The current lack of FDA regulations has allowed CBD products to floor the market in 2020. The report breaks down sales into product categories, such as topicals, over-the-counter supplements, beverages, inhalables, food items, and candy, each of which has become a massive moneymaker for the CBD industry.
Nielsen’s findings show that the food category, which CBD brands have tried with difficultly to enter, is one of the smallest CBD segments. Meanwhile, high-end beauty and skincare products in the prestige category may offer a great opportunity, with sales expected to increase by close to 1,000 percent by 2025.
Beyond the estimated sales of hemp-CBD products, the reports also break down:
- The demographics for current and future CBD consumers.
- How and why consumers are using CBD.
- The barriers to consumer adoption.
- The prices compared to non-CBD products.
- Category management trends.
- How to stand out in retail.
- The federal regulatory outlook.
New York Files Regulations For CBD Products
This week, New York Gov. Andrew Cuomo announced the state had filed proposed regulations to regulate CBD hemp products in New York State.
The regulations, released by the state’s department of health, will license CBD processors and retailers. The Cannabinoid Hemp Program will also set quality control standards in place that all CBD hemp products must meet.
“These regulations are the next step toward regulating the growing hemp industry in New York in a way that protects consumers and helps ensure the industry’s long-term viability,” said Governor Cuomo. “Establishing the State’s Cannabinoid Hemp Program to regulate production and sale of hemp and hemp extract will help protect both consumers and farmers.”
Applications for cannabinoid hemp processing and retailing licenses are currently under development. The state department of health says it hopes to make them available in early 2021.
Panel Recommends Hemp and Hemp Product Legalization In The Bahamas
The Economic Recovery Committee in the Bahamas has called for the nation to legalize hemp and hemp extracts, as well as marijuana.
In a report, the committee says the industry represents an opportunity to bring in revenue. Prime Minister Huber Minnis said the country’s cannabis laws “outdated” and need to be changed.
“There are potentially many opportunities for creative Bahamian businesspeople to get involved in this new industry,” he said to the House of Assembly.
Minnis also said cannabis businesses would have to be Bahamian-owned or majority-Bahamian owned.
Under the new rules proposed in the report, hemp and derivative products with minimal or no THC would be exempt from regulatory limits. It would also make government-owned land available to cultivate cannabis, with special provisions in place for small-scale farmers and the Rastafarian community.
The report also would allow adults to possess up to two ounces of marijuana, with unsanctioned possession beyond that limit being punishable by a fine. Lastly, the report will allow for the licensure of cannabis cafes, resorts, and guesthouses for on-premises consumption.
The next step in the plan is a public comment period.
Study Shows Cannabis is Becoming a Less Divisive Issue in the U.S.
Are more voters across the board in favor of cannabis than in previous years?
If there’s one thing all Americans can agree on right now, it’s how divided we are on most of the major issues in the nation. However, despite this significant divide, there is another thing that both sides can apparently agree on: cannabis.
While it’s still clear that a democratic presidential win would overall be huge for the cannabis industry across the board in the U.S., as would the presence of more democrats in the Senate, the numbers are now showing more than ever that Republicans can also get behind cannabis legalization in many cases.
“The prevailing wisdom has been that a conservative administration would be less receptive, but I think legalization is now inevitable on its own kinetic energy,” said Sturges Karban, chief executive officer of ManifestSeven, a cannabis logistics company, to The Philadelphia Inquirer. He describes federal legalization as “a political “third rail”.”
This could be a major step for the industry, as Senator support for cannabis is currently the missing piece for passing different legalization bills across the country. Arizona, Montana, and South Dakota, three conservative states that wouldn’t necessarily be thought of as cannabis hubs, are voting on cannabis issues that are expected to pass. New Jersey, Mississippi, and South Dakota, three other unlikely states to embrace cannabis, are also considering some form of legalization.
“People are just much less afraid of marijuana than they used to be,” said John Fanburg to The Inquirer. He serves as co-chair of the cannabis practice in New Jersey-based that took the poll. This, he says, is the result of the state’s medical cannabis program, which has grown majorly in past years, convincing many in the state that cannabis isn’t so bad.
Closing The Gap
A survey done in New Jersey this month by the Brach Eichler LLC firm revealed that their state is likely to vote to legalize recreational cannabis thanks in part to Republican support. It showed that across New Jersey, based on everyone polled, 74 percent of democrats and 52 percent of Republicans support legalization.
According to a poll from Monmouth University, Arizona poll results show that cannabis is 56 percent favored for legalization, another unlikely number from a more conservative state without a history of cannabis legislation.
“The red states are empirical evidence that there’s enough demand and support at the grassroots [level] that the issue is agnostic to party,” Karban said. “How do you ignore that if you’re in Washington?”
“We’re cresting the summit on changing federal law,” said Graham Boyd, head of the New Approach Political Action Committee. “It’s been a painful uphill climb until now with the Senate being unmoved. But with South Dakota and Arizona and Montana on board, it starts to change that because they have Republican senators.”
As this trend continues across the country, it seems more and more likely that cannabis legalization could become a reality on a federal level. The November election results will reveal just how close this legalized future might be.
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