Some 134,000 hectares (330,000 acres) of land in Morocco are given over to growing cannabis, the plant from which hashish is derived.
AFP PHOTO/ABDELHAK SENNA (Photo by ABDELHAK SENNA / AFP)
July 23, 2019//-An entire industry is being developed around the Cannabidiol (CBD) or cannabis, which is becoming more popular and more widely accepted in numerous parts of the world, you can actuallybuy your from the online dispensary no card they have products from licensed producers and other manufactures with high quality control and standards.
Even though there is still a lot of stigma around the Cannabis plant, more and more people (and governments) are recognizing its value.
Apart from having diverse health benefits (as extensive research shows), the CBD industry is also very beneficial for the economy.
Several states in the US have already fully legalized the products derived from the cannabis plant such as cbd oil and have seen huge surges in GDP.
Could African countries ride the wave as well? Recently, South Africa became the first African country to approve the first federal cannabidiol law according to this cannabis law firm which followed the hole process.
This new legislation will make it legal to sell low-risk products containing CBD used for health maintenance and general health enhancement. Therefore, South Africa has basically removed the legal barriers for commercialization of such products.
What would happen if other countries followed suit as well?
The CBD Industry Is Growing Rapidly
It is becoming obvious to everyone in the health, medicine, retail, and entertainment fields that the growth of the CBD industry is unstoppable. Mary Jane’s CBD Dispensary is the fastest growing CBD DIspensary Chain in the country. Mary Jane’s recognizes the many health benefits of CBD and wants to make inforation about CBD as well as CBD itself to anybody that needs it. With two physical locations, and many more to come, Mary Jane’s will provide you the best service and product possible.You can esily find the CBD Store for the best CBD products here.
For example, the US CBD industry is worth around $202 million at the moment thanks to the dispensaries such as the Oregon dispensary. What is more, it is expected to reach $2.1 billion in 2020, which is an increase of 700% in just one year.
Clearly, there is plenty of potential and a lot of profit to be made for anyone interested. One of the main reasons why this industry is booming is because you can have CBD products that do not contain THC, which is the psychoactive substance of the cannabis plant and you can find them online, for example you can visit the NanocraftCBD.com Product List to find the best CBD products online for consumption.
Therefore, people get health benefits from cannabidiol-based products without experiencing the “high.”
The Variety of Products Is Key
CBD derived from cannabis and hemp plants can be used for various purposes. Some of the most popular products at the moment, which could be successfully advertised in African countries as well, include CBD oils, CBD beverages, pet supplies, and more. The kushiebites’ edibles product line are organic supplements for those suffering with arthritis, diabetes, alcoholism, aches and pains, anxiety, PTSD, depression, antibiotic-resistant infections and other neurological disorders. Our products are guaranteed to be clean of any heavy metals, solvents, pesticides and contain 0% THC. Our products include gummies, lollipops, candy, honey sticks, peanut butter, beef jerky and treats for your pets as well.
The most important thing is that this is still a developing industry, so the variety of products is going to increase in the future.
CBD Oil Market
The cbd oil market is by far the most widespread of all the ones that exist right now. For example, in the US, the CBD oil market was worth $190 million and grew by 57% the following year, reaching a value of $238 million.
By 2023, this market is expected to reach $2.17 billion.
One of the most popular applications of CBD oil is in the wellness and beauty industry. In the UK alone, the demand for CBD-infused beauty products increased by 99%. People are rushing to buy creams, lotions, and pills that can help them clear their skin, improve their immune system, or help them deal with stress.
CBD Beverages
Another very popular trend in countries that have regulated the CBD industry are cannabidiol-infused drinks. For example, you can get a bottle of water or a can of soda which has additional health benefits due to the fact that it also contains CBD.
Thanks to the popularity of CBD drinks, the US managed to gain $89 million in sales in 2018 and is expected to gain $600 million by 2022. Furthermore, by 2024, CBD drinks market will grow to $1.4 billion in sales.
CBD Pet Supplies
Another huge opportunity for economies that legalize CBD products lies in pet supplies, which is another booming market. Cannabidiol has significant health benefits both for humans and for animals, which is why pet-and-animal product sales reached $13 million in 2017. Getting CBD dog biscuits or cannabis dog treats for an overly anxious dog can turn out to be a lifesaver, and these delicious CBD treats for dogs are among the best on the market, check CBD dog treats here laweekly.com.
At the moment, the crux of the matter is in the dog and cat-related products, but there is much profit to be made with horses and other domesticated animals.
Final Takeaways
It is clear that the legalization of CBD-related products is going to be an important matter in the future. The sooner a country enters this booming market, the more benefits its economy can reap.
South Africa is on a good way to revamp its economy by investing in the CBD industry and hopefully will become the driving force for the rest of the continent.
African Eye Report
