As August comes to a close, are you wondering if you missed any headlines from the world of CBD? We tracked down what you need to know — and put it right here for you on Direct CBD Online! This month, we’ve got our eye (and our nose) on CBD fragrances, stock, accessibility, and more.
Available at retailers such as Barneys New York, Cannabis-forward scents aren’t hiding anymore. The president of the Fragrance Foundation, Linda Levy, says that adding cannabis is “trendy” and “very of-the-moment.” Formulas that contain cannabis or CBD oil are often paired with other, complementary scents, such as moss, florals, and patchouli. One, from U.S. fragrance maker, Demeter, is “subtly skunky.” Another, from Heretic, called Dirty Grass, contains 500mg of CBD in its 50mL bottle.
Among crops grown on more than 10,000 acres in 2018–2019, industrial hemp rose 368%. Maple sap came in second, at 85%. This enthusiasm is bolstered by the 2018 Farm Bill, hemp being relatively easy to grow, as well as the likelihood of significant payouts for hemp crops.
According to Kentucky farmer, Will Brownlow, an acre of soybeans can earn him about $500 while an acre of hemp can earn him as much as $30,000 — that’s quite a difference.
According to Business Wire, the global industrial hemp market is projected to grow from $4.6 billion in 2019 to $26.6 billion by 2025. In the U.S. alone, Nielsen projects $6 billion in sales by 2025, under the assumption that the FDA will approve ingestible hemp-derived CBD products.
In August, a few CBD companies stood out from the crowd. Toronto-based Cronos Group, Inc., plans to expand into the U.S. market before the end of the year and experienced a growth of 120% in the first quarter of 2019. Ontario-based Canopy Growth Corp. has stars like Martha Stewart, Snoop Dogg, and Seth Rogen on its team.
In accordance with the FDA, Washington state banned the sale of CBD-infused food and beverages. If the FDA approves CBD as food-safe, the state plans to adjust accordingly. Other hemp-derived foods are still fair game, including hulled hemp seeds, hemp seed protein powder, and hempseed oil.
Somewhat related news in the Northwest, Oregon has enough legal marijuana to last the state six years — and is now trying to curb production.
Infinite CBD of Lakewood, CO, deemed the trial of their first CBD vending machine a success. Situated in a liquor store in Fargo, ND, the machine, which accepts credit and debit cards, did $1,000 in sales in its first three weeks without any marketing. This highlights just how easy access to CBD products has become, even in areas labeled as “conservative,” like Fargo.
On Direct CBD Online, we love being your source of CBD news — see you in a month for another roundup!