As of current, the Hemp Industry is a 600 million dollar enterprise, in which this rapidly expanding industry is transforming the very economic structure of America. Not to mention, the Hemp Plant is responsible for having such defining characteristics that is known for being one of the most versatile natural resources on the planet.
This has been the primary reason why hemp now has the potential to infiltrate and disrupt countless areas of domestic and global industries.
There are so many huge international investments being made into Industrial Hemp. For instance, in Australia, they are beginning to build homes with the hemp plant.
For instance, Cybannac are a cutting edge innovative hemp engineering company. “Our vision is to provide environmentally friendly Hempcrete products that can be utilised across multiple sectors, cutting emissions and costs for all homeowners.”
In 2014, Canadian farmers grew 100,000 acres of Industrial Hemp mostly for seeds to make into hemp seed oil and sold it to the United States for about $50 million. Also, in 2014, Chinese, Australian and European manufacturers sold another $600 million of mostly fiber and other hemp products to the U.S.
Not to mention, CBD is no longer being defined as merely a molecular cannabinoid compound extracted from the hemp plant. Cannabidiol (CBD) is additionally, often defined by consumer testimonials becoming the key ingredient to a number of health and wellness products being offered now on an international stage.
The Power of Big Pharma & How This Impacts CBD
Therefore, the hemp industry has now extended itself into the Wellness Industry via CBD products. The Wellness Industry is said to be more than 3 times the size of Big Pharma — an impressive statistic that is fairly difficult to fathom, due to the sheer power and influence Big Pharma has on the U.S. economy.
In fact, it is, without, a doubt, the powerful influence that the Pharmaceutical Corporate landscape is the single largest industrial concern that causes many CBD brand manufacturers to grow anxious and tiresome.
The possibility of, perhaps, an announcement by the FDA that forces crippling regulations to be applied to the CBD industry could very well be at the request or demand of Big Pharma Executives.
Many may feel that something like this would be impossible, due to the outrageous spectacle it would be. However, we must analyze the facts before any assumptions are made.
One key fact being that most open FDA jobs are typically filled by former pharmaceutical corporations executives and most of their current top power positions are held by previous Big Pharma Execs.
The Biggest Obstacle of CBD: Avoiding Damaging Regulations
In addition, doubting such a scenario should never be seriously considered for the reason that it has already occurred in other economic circumstances involving a similar modern emerging industry.
Taking this into account, on May 5th 2016, the FDA announced and published the most severe regulatory framework to be enforced in the United States since the prohibition era in the Roaring Twenties as a response to the booming Vaping Industry — an area of commerce revolving around the most effective tool ever to be used for “Tobacco Harm Reduction.”
Consumers were quitting cigarette-smoking by switching to vapor-devices. Initially treated as a cultural “fad” sweeping over mainstream America U.S., when, in fact, this was no limited fad, it became a movement of millions of advocating ex-smokers so passionate about their transition ultimately becoming entrepreneurs by establishing brands in every area of the industry— from devices, e-liquids, and other essential accessories.
Some of these brands have become major operators from inside the industry with full-control over the manufacturing, distribution and retail sales areas of their products
Similar Stories to Learn From The Vaping Industry
Vaping became so miraculous to former smokers, who are now able to live healthier lives. So healthy that many saw financial freedom by establishing businesses which created a billion dollar industry that was growing at a pace that nearly doubled industrial net worth annually. The mislabeled “fad” was so quickly becoming a permanent economic fixture in the global market moving too fast to control
This high profitability rate clearly was transferring consumer dividends from other and more powerful American businesses who were the support beams propping up the capitalist economic structure of the American economy.
Thus, the FDA was inclined to step in and maintain the status quo of the economic forces too big to fail. Declaring the necessity to require highly specific guidelines that would redefine the origin of the activity of using vapor products, influencing public opinion to believe in inaccurate labels and false narratives.
The most damage was attributable to areas in the regulation was when this new technological advancement to improving public health had become to smoking, vapor products were basically identified as an equal counterpart — persuading citizens to believe a product went from a celebrated harm reduction tool into a despised tobacco abuse was as bad or entirely worse than smoking cigarettes.
Proven to be a version of nicotine delivery 95% or higher by one of the most reputable Medical Organizations located in all of Europe – The Royal College of Physicians of Public Health England
Regulations in the form of contemporary prohibition — literally. Similar to a ticking clock that would eventually reach a moment in time when the industry could become chopped, gutted and then slowly but surely handed over to a more powerful and influential Big Business.
Future CBD Regulations: The Fate Of The Industry is Unclear
The fact that many industry professionals in the vapor industry now also have brands within the CBD industry has assisted many of these business-savvy advocates to take the proper precautions by using their experience and gained knowledge of the system. Therefore, avoiding any type of penalty or punishment by regulating authorities are extremely wise business practices.
However, will this pay-off in the long run for CBD Products? Besides a number of health food stores or local grocers in several states, it has still been fairly drama-free when compared to the vaping industry.
There seems to be more of a growing skepticism about possible regulations now and that lingering suspicion is still ever present for CBD brands.
Unfortunately, there will likely come a point in time when the insertion of restrictions will become a reality, however, the harshness of those regulations is still up in the air.
The timing of when they will arrive is also debatable and uncertain. Perhaps sooner than necessary or later than expected — though, from the rapidly booming economic spark the hemp industry has ignited, it will not be as easy to regulate as the vaping industry was to force regulations on.
Then again, it has become obvious the vapor industry has not been as easy to regulate as government agencies may have initially assumed.
There have been a number of significant postponements of effective dates involving important transitions that would largely damage industry war on vapor in America.
So, The feet of CBD becomes and remains unclear, as there has been no pattern or announcements to suggest any type of agreed-upon direction on where exactly these modern emerging industries producing hemp and extracting cannabinoids stand as far as the usefulness of their economic positions.
The swift expansion of hemp cultivation and crafty innovation creating new products absolutely helps these new industries full of opportunities continue to prosper. Until then, when reflecting on regulations, it has become a twofold question of “when will it occur and how restricting will it become?”
Finally, hemp is growing ever more prevalent to the the American economy. It seems as if it will become a major facilitator in the optimization of countless products.
From all the versatility offered by hemp, CBD remains safe for the time being and we are able to continue reaping the benefits as consumers, business owners and advocates alike.
