By Justin Moore
The craze continues for CBD in everything from skin care to food
Experts predict the market for CBD could surpass cannabis by 2022
Cannabidiol (CBD) is popping up in products throughout the U.S. with claims it can ease everything from epilepsy to joint pain without the high of its cannabis cousin. Largely unregulated in the U.S., established businesses and entrepreneurs alike are touting the benefits of CBD in oils, creams, sodas and even in one of America’s most popular Easter snacks, jelly beans.
Why This Matters: CBD is big business as experts have predicted its market could reach $22 billion by 2022, surpassing the market for cannabis, due to its lack of regulation. This could provide more opportunities for Black entrepreneurs that typically have tougher times accessing the capital necessary to enter the traditional cannabis market.
David Klein, creator of the Easter staple Jelly Belly jelly beans company, is infusing jelly beans with CBD. Visually indistinguishable from a normal jelly bean, purchasers of Klein’s new product line must be 18 or older so don’t expect to find any at upcoming Easter egg hunts.
Situational Awareness: While a lack of regulation is creating a lot of opportunities for businesses, consumers are largely still in the dark. There has not been extensive research on the effects of CBD or even what dosages are required to produce medical benefits. Additionally, the lack of labeling and purity standards for CBD doesn’t provide much security that product makers are delivering high quality CBD or CBD at all.
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