California has long been at the forefront of the marijuana industry. The state was the first to legalize medical cannabis in 1996. Since then, there has been significantly more research and attention placed on the plant.
Experts now realize that one of the most useful compounds in the marijuana plant is not THC, but CBD. CBD, or cannabidiol, provides medical benefits without feeling “high” or “stoned.” The CBD market is about to explode, especially in San Diego.
CBD And San Diego
Scientists have begun documenting the medicinal impact that CBD can have. Studies have demonstrated that it could help treat:
• Pain, including chronic pain and pain from diabetes and arthritis
Many companies are also researching if CBD contains anti-cancer properties. San Diego is an attractive location for many CBD companies because of its innovative spirit. Many CBD companies work in coworking spaces that inspire creativity.
The CBD Market Will Continue To Grow
The CBD market is going to continue to grow in the United States in the coming years. One report from The Brightfield Group estimated that by 2022, the CBD market would hit $22 billion. One of the reasons why is because the United States Congress recently passed the 2018 Farm Bill that legalized the production of hemp at the federal level.
Hemp is a cannabis plant that contains CBD but does not contain THC, and therefore cannot get users “high.” Hemp is not used recreationally. Thus, the CBD market is in a much better position for growth. Marijuana has not been legalized at the national level. The way to capitalize on the CBD market in the coming years is with CBD.
CBD In San Diego
San Diego has seen a recent boom in CBD businesses. For instance, KB Pure Essentials is based in San Diego and run by founders Brooke Bruna and Katie Moodie. The pair began a little more than five years ago as a natural product manufacturing company. Since the passing of The Farm Bill, their business has taken off. Moodie recently told the San Diego City Beat, “We’ve been bombarded with people who do merchant processing for online sales.”
Eaze is another company located in San Diego that was founded in 2014. Their platform allows their customer to gain access to legal cannabis that is delivered directly to them from local dispensaries.
If you’re looking to break into the San Diego CBD market, consider renting a coworking space to surround yourself with like-minded, innovative entrepreneurs.v can help you grow your idea into reality while putting you in touch with industry experts.