Hemp Hype Sparks CBD Boom
In a land where traditions meet innovation, the hemp plant has taken center stage, propelling India into a remarkable $80 million race to CBD supremacy. This is no ordinary trend; it's a wave of transformation sweeping through the nation, igniting imaginations and opening new doors to wellness. As the hemp hype gains momentum, the race to CBD glory isn't just a financial endeavor – it's a journey that fuses ancient wisdom with modern potential. Join us as we uncover the driving forces behind this sensational surge and witness India's vibrant pursuit of the CBD spotlight.
What is CBD?
It's like a rising star in the world of natural remedies. CBD, or cannabidiol, is a naturally occurring substance found in the resinous flower of the cannabis plant. It's been around for quite a while and has a fascinating history of medical use.
In fact, cannabis has more than 400 different chemical entities, and over 60 of them are what we call "cannabinoid chemicals." Some of these cannabinoids even have opposing effects.
CBD is one of the standout players among these compounds. Think of it as one of the plant's secret weapons that contribute to its potent therapeutic properties. One of the coolest things about CBD is that it's non-addictive and non-toxic, making it a pretty safe option.
Difference between Vijaya Leaf Extracts and CBD Oil
The main difference between Vijaya leaf extract and CBD oil lies in their source within the cannabis plant and their cannabinoid content. Vijaya leaf extract contains a mixture of cannabinoids, including CBD and THC, while CBD oil primarily contains CBD with minimal THC. Both products are utilized for similar purposes, such as pain relief and addressing sleep problems.
Vijaya Leaf Extract:
Source: Derived from the leaves of the cannabis plant.
Legality: Legal to sell and use in India.
Cannabinoids: Contains a range of cannabinoids, including CBD, THC, and others.
Uses: Used for various purposes, including pain relief and sleep problems.
CBD Oil:
Source: Derived from various parts of the cannabis plant, including leaves, flowers, and stems.
Legality: Legal to sell and use in India.
Cannabinoids: Contains primarily CBD and very little THC (psychoactive compound).
Uses: Used for various purposes, including pain relief, anxiety, and sleep problems.
CBD's Rising Popularity in India and Around the World
As we continue to observe the CBD landscape, it's becoming evident that its popularity is not only on the rise in India but also on a global scale. Our data analysis paints a promising picture:
The global cannabidiol (CBD) market was worth a modest USD 2,770.8 million back in 2020. But guess what? It's predicted to skyrocket and reach a staggering USD 55,791.3 million by the year 2028! Can you believe that growth? They're talking about a Compound Annual Growth Rate (CAGR) of about 47.49% from 2023 to 2028. That's some serious expansion!
But let's focus on India for a moment. Right now, the estimated value of hemp products in the Indian market is somewhere between US$ 80-100 million. Interestingly, we've only tapped into about US$ 10 million of that potential so far. However, get this, the Indian industrial hemp market is expected to grow by a whopping 16.09% between 2023 and 2028. This means we could be looking at a market volume of about US$ 175.10 million by 2028!
Shifting gears back to the global scene, the CBD market worldwide is projected to grow too. Experts say it might register a CAGR of approximately 21.7% from 2022 to 2028. Just to give you an idea, it was already a USD 12.8 billion market in 2021.
Now, here's something specific: the CBD oil market. Brace yourself for this – it's predicted to explode with an eye-popping CAGR of 31.5% from 2020 all the way to 2031. And guess who's leading the pack? Europe and North America are expected to capture over 70% of this market growth.
CBD and Ayurveda – A Harmonious Fusion
The fusion of CBD and Ayurveda brings ancient wisdom and modern science together, redefining holistic well-being. In Ayurveda, cannabis, or "Vijaya," has long been revered for its ability to restore balance. CBD oil, derived from cannabis, is gaining attention in India for its healing properties. The government permits CBD with low THC and cannabis extracts in Ayurvedic contexts, though recreational use remains discouraged.
Regulation of CBD in India, sourced primarily from hemp, is still evolving. The AYUSH Ministry and India's Excise Department tightly control cannabis leaf extracts, acknowledging their therapeutic potential with prescription requirements. This integration of Ayurveda and CBD showcases how marrying traditional and modern approaches can revolutionize holistic health.
The Legal Twist - Medical Cannabis Medicines in India
Back in 1985, India put the brakes on the recreational use of Cannabis and its resin, Charas, or Hashish, with the Narcotic Drugs and Psychotropic Substances Act (NDPS Act). The move was prompted by India's commitment to the Single Convention on Narcotic Drugs, in 1961. Oddly, while this Act waved the red flag at casual use, it didn't give the same cold shoulder to the medical use of cannabis. However, the medical cannabis scene in India remains a bit of a unicorn – rare and elusive.
You see, most State Governments here are about as eager to hand out licenses for growing cannabis as a kid is to do homework on a Friday night. So, most cannabis that could be used to make medical treatments ends up growing wild. And since Mother Nature isn't the best quality control specialist, this wild growth poses challenges for making consistent and standardized cannabis-based medicines.
Now, here's a twist. The NDPS Act doesn't wag its finger at the leaves and seeds of the cannabis plant when they're hanging out away from the flower or fruit bits – the parts that pack the real punch. That's why Bhang, made from cannabis plant leaves, is pretty much available like your regular cup of tea, though with Excise Control in the mix. Those leaves could actually be a medical goldmine. Among the chemical goodies in cannabis is CBD or Cannabidiol, which has medicinal powers but isn't the bad boy that makes you woozy. Even the World Health Organization gives it a thumbs-up, saying it's not addictive or psychoactive.
Surprisingly, CBD Oil sold in India, even online, is often brewed from the leaves of the cannabis plant. And since these leaves aren't considered the problem child of narcotics, CBD Oil made from them doesn't need to be treated like contraband. In plain words, slurping down CBD Oil from these leaves isn't going to have the cops knocking on your door. Just to be clear, this is quite different from the stuff that might get you into trouble – cannabis or hash oil, which have their own spot in the NDPS Act's naughty list. So, if you're holding a bottle of CBD Oil, legally obtained and all, you're on solid ground, not tiptoeing around the law.
Winds of Change - Cannabis Legalization Movements in India
Ever heard of the Great Legalisation Movement India (GLM India)? It's a non-profit organization founded by Viki Vaurora back in November 2014, with a mission to legalize cannabis for medical and industrial use in India. They're all about educating people on cannabis history and its potential benefits, pushing for a green industrial shift by swapping harmful products with sustainable hemp-based alternatives.
GLM even organized India's first-ever march to legalize marijuana in December 2017! And they're not alone in this mission. The Indian Hemp Association is also in the ring, striving to make industrial hemp legit in India. It's awesome to see these efforts gaining traction, with over 27,000 Facebook followers and loads of YouTube views.
Meanwhile, India itself is stepping up its conservation game, hopping on the 30 by 30 (30X30) goal to protect 30% of land and oceans by 2030. The Indian government is setting up protected areas, promoting sustainable practices, and even exploring hemp alternatives.
Plus, there are similar movements worldwide, like NORML and DPA in the US, all fighting for sensible drug policies and cannabis legalization. It's fascinating to see these groups driving change both locally and globally!
A Thrilling Tale of Wellness - CBD Oil in India
Ladies and gentlemen, our journey through the land of CBD has been nothing short of thrilling. From market projections to Ayurvedic collaborations, and legal transformations to health miracles, it's clear that CBD is here to stay in popularity.
As the wellness sector blooms and e-commerce bridges the gap, CBD is becoming a household name, easily accessible to all. But remember, every superhero has its challenges. While CBD's popularity skyrockets, the lack of regulation brings its own set of concerns. Safety and quality control need to dance in harmony with its success.
So, dear readers, as CBD finds its rhythm in India, let's applaud its triumphs and keep a watchful eye on its journey. Who knows where this green wave will take us next? Stay curious, stay informed, and stay tuned for the next chapter in the CBD saga! 🌱💚
Hemp Hype Sparks CBD Boom: India's $80Mn Race to Popularity
Hemp Hype Sparks CBD Boom: India's $80Mn Race to Popularity
Sources to read more about CBD
https://www.convenience.org/Media/Daily/2022/Mar/22/5-CBDs-Popularity-Is-Growing_Operations
https://www.fortunebusinessinsights.com/cannabidiol-cbd-market-103215
https://www.tpci.in/indiabusinesstrade/blogs/hemp-products-getting-high-on-market-growth/
https://www.databridgemarketresearch.com/reports/global-cbd-oil-market
Grand View Research - Cannabidiol Market Size, Share And Growth Report, 2030
PubMed Central - Mechanisms of Action and Pharmacokinetics of Cannabis
PubMed Central - Changes in Cannabis Potency over the Last Two Decades
Harvard Health - Cannabidiol (CBD): What we know and what we don't