Cannabis Sub-Industry Company Is Projected To Grow 800% Over Next 3 Years
Cannabidiol (CBD) is an extract that comes from the hemp plant. Although it won’t get your stoned, both patients and researchers are discovering that it has numerous medical benefits that it offers.
Studies have continued to show that CBD’s non-psychoactive elements deliver very power relief for some different ailments, including arthritis, insomnia, anxiety, pains, and aches – without producing the euphoric effects that THC does. It is looking like over the next year that we will be seeing CBD pills and oil appearing on the shelves at Walgreens and CVS right next to the sleeping aids, Tylenol and the OTC remedies that are readily available.
This aspect of the cannabis industry is one that does get much attention but is very exciting.
Cannabidiol comes from the cannabis plant and is that part that does not get you high the way that the THC part of the plant does. Usually, it is used for health reasons rather than for recreational ones. CBD products are derived either from marijuana plants or industrial hemp plants.
It has been estimated by the Hemp Business Journal that the CBD market is set by 2020 to grow to $2.1 billion in consumer sales, with hemp-based sources accounting for $450 million of the sales. That represents a 700% increase over 2016. In 2015, the consumer sales market for CBD products that were hemp-derived were $90 million, with an additional $112 million in CBD products derived from marijuana sold via dispensaries – which brought the total CBD market for last year to $202 million. The industry has the potential of becoming a $4 billion industry by the year 2020.
The approach that the government has taken towards CBD has been quite confusing as well. The Federal government does not have a clear way of knowing how to oversee these types of products. Under the Controlled Substances Act, CBD is not precisely defined. The Drug Enforcement Agency (DEA), however, does believe that is a Schedule 1 controlled substance. The Hemp Association was taken to court by the DEA over this designation. However, in 2003 they lost. The 2014 Industrial Hemp Farming Act amends the Controlled Substance Act (CSA) and excludes hemp and therefore hemp-based CBD as well. There are some hemp-based CBD products sold in each state still that think they are not subject to the laws.
Being aware of the trend and growing industry makes it an ideal time for now only investors to invest in CBD manufacturing companies such as Nutrafuels, but entrepreneurs as well to claim their stakes in the market through launching private label brands and use custom manufacturers such as Nutrafuels.
What is Contract Manufacturing and what is Private Label Manufacturing?
Typically Private Label is for those with smaller budgets to help them get a start in the stock formulation. It provides you with control over the label but usually, that is about it. You must use their stock containers and stock formulations.
Contract Manufacturing provides you with 100% control over what your brand looks like, including Labels, Containers, and Top, and even offers custom formulation. Sometimes to standard part from the crowd you need to have contract manufacturing to achieve that desired look that you are searching for.
Steps For Getting Started
Step 1: Research and Choose your Product
Step 2: Locate a Manufacturer
Step 3: Obtain your Design, Logo, and Packaging
Step 4: Create A Compelling Listing
Step 5: Find a Fulfillment Center to use, so you don’t have to ship your products
Step 6: Create your Marketing plan and launch your product
Step 7: Make your first sales.
The CBD oil industry has almost no contract manufacturing or private level facilities. There are just two with one of them being Nutrafeuls, which is a publicly traded company.
Nutrafuels (OTC: NTFU) is a leading international and U.S. cannabidiol CBD manufacturer. The headquarters of Nutrafuels is in Coconut Creek, Florida. It is among the largest CBD manufacturing companies in the world and U.S.
Nutrafuels specializes in creating and selling CBD products both internationally and within the US and offers both custom and stock formulations.