New Reports Show Huge Growth Trends in CBD Market through 2022
SALT LAKE CITY, UT / ACCESSWIRE / November 26, 2018 / EnviroTechnologies International, Inc., a publicly traded company (OTC PINK: ETII) that develops and markets green, natural and organic products for diverse industries, reported continued growth worldwide in the CBD health market.
CBD vs. Cannabis Oils EnviroTechnologies International’s (ETI) subsidiary, CBD Health Co., (www.cbdhealthco.com), is a company that markets and sells high quality and proprietary hemp-based, natural health products that include CBD Oils as their primary ingredient.
CBD Oildiffer from Cannabis Oil in that Cannabis Oils containscannabidol (CBD) and Delta-9Tetrahydrocannabinal (THC), the substance in marijuana plants that can cause mind-altering effects. Cannabis Oils refer to an oil that contains THC and these oils are still illegal in many states and countries.
CBD, on the other hand, does not contain THC and is legal in all 50 states, Canada and most of Europe. The oil extract is hemp-based. Many natural health proponents over the past several years promote that CBD oils can potentially relieve chronic pain, reduce anxiety and depression and alleviate cancer symptoms, among other benefits. Research is on-going and intensive.
“We acquired CBD Health Co because our company was founded to use green and natural products to make our environment safer and promote products that improve our quality of life,” said Gaylord Karren, ETI’s CEO. “CBD Oil products have the potential to not only improve the quality of their users’ lives but also create enormous revenues for our company and its shareholders.”
CBD Oil Market Worldwide
“For some time, experts have been making predictions about the global CBD market and the expanding acceptance of CBD as a natural health product. And some have predicted, specifically that the entire cannabis market could reach $20 billion by 2020 if the market expands at its current rate,” said Randall Waters, ETI’s Vice President of Sales and Marketing. “However, recent studies by the Brightfield Group, a company that specializes in providing data and information about the cannabis and CBD markets, avers that the hemp-based CBD market alone could reach $22 billion by 2022.”
“The Brightfield Group’s research further reports that because CBD’s hemp products are non-psychoactive (no THC), they have recently surged in popularity as a treatment for many maladies,” said Karren. “Much of the growth is attributable to the fact that CBD distribution has expanded in 2017 and 2018 to natural food stores, beauty shops, and doctors’ offices.”
“We see the markets for true hemp-based CBD products such as those produced by CBD Health, continuing to grow and the purchasing demographic multiplying over the next 3-4 years. We are satisfied that CBD Health is at the forefront of this incredible market and that we can tap into this new, accepted hemp-based CBD natural products,” said Waters.
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SOURCE: EnviroTechnologies International