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Key Emerging Trends in the CBD Plant Nutrients Market
Legalization of Hemp-based CBD: A Global Trend
Many countries around the world are now allowing the use of hemp-based CBD, recognizing its benefits. CBD, derived from hemp, has been found to be helpful in various medical conditions like nausea from chemotherapy, spasticity in multiple sclerosis, HIV/AIDS-related weight loss, and neuropathic pain.
In the United States, a significant step was taken on June 28, 2018, with the passing of the Agriculture Improvement Act, also known as the Farm Bill. This bill officially made hemp legal for commercial use and removed hemp-derived CBD from the list of controlled substances. It also gave both states and the federal government the power to regulate hemp production. The Agriculture Marketing Service (AMS) of the United States Department of Agriculture (USDA) was appointed as the main agency to oversee the new USDA Hemp Production Program. This means hemp is now treated as a crop by the Department of Agriculture instead of being considered an illegal substance by the Justice Department.
In Ohio, the Senate passed Senate Bill-57 on March 28, 2019. This bill allows farmers in Ohio to grow industrial hemp under a three-year license from the Ohio Department of Agriculture. Additionally, the bill sets requirements for CBD processors, testing of hemp products, and the inclusion of CBD in food, drinks, and cosmetics.
Europe also has countries where CBD production is legal, but there are certain rules to follow. In the Czech Republic, for example, medical cannabis was legalized in 2013, but individuals are limited to 180 grams of dry matter per month. Throughout Europe, laws regarding cannabis and CBD can vary from one country to another. According to EU law, CBD products cannot contain more than 0.2% tetrahydrocannabinol (THC), the compound responsible for the psychoactive effects of cannabis.
In summary, the trend of legalizing CBD production and its products is growing globally, with countries acknowledging its potential benefits. This shift is expected to contribute to the growth of the global CBD plant nutrients market in the coming years.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Rise in research & development activities for CBD |
| Market Dynamics | Growing use of CBD across various applications |
CBD Plant Nutrients Market Highlights:
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