President Trump signed the 2018 US Farm Bill into law today legalizing hemp, including hemp-derived products such as CBD, and making it a lawful agricultural commodity. The new law allows for hemp's extensive commercial uses, including health and wellness products, textiles and industrial manufacturing. In response, Cleveland-based manufacturer of CBD wellness products, ZuRI, A CBD Supply Co., is proactively increasing production across its extensive product portfolio of over 70 CBD wellness products.
Scott Raybuck, President and CEO of ZuRI, is excited by what the legislation will mean, "We are passionate about providing the highest quality ingredients in our products and offering our customers a wide assortment of CBD delivery selections to best suit them with their particular ailment. The passage of this bill now allows for these customers to have legal access to these highly beneficial products."
According to Hoban Law Group, the country's leading cannabis business law firm, other significant clarifications the bill imparts are:
The firm also expects there to be a "cascade effect" at the state level to amend laws as consistent with the Farm Bill. The hope is also that the FDA will allow for hemp-derived cannabinoids as permissible ingredients.
CBD, or cannabidiol, is one of over 125 compounds produced by the cannabis plant. CBD derived from hemp contains none, if only trace amounts, of the psychoactive chemical THC, associated with the "high" produced by marijuana. Health experts around the world have found evidence that hemp-derived CBD can provide relief from a multitude of conditions, from anxiety to chronic pain and inflammation, as well as depression and sleeplessness in both humans and animals.
The aforementioned proven health benefits and ZuRI, A CBD Supply Co.'s extensive product portfolio have led to significant growth within the ZuRI ingestible, topical and pet lines of products. Specifically, consumers are experiencing the benefits of CBD by utilizing ZuRI's high-quality wellness drops and tinctures while enjoying topical relief with a proprietary formula, which makes up the best-selling ZuRI Freeze®. Pet owners seeking relief for their pets can utilize the ZuRI Pet wellness drops or daily chews.
All of these elements combine to lead industry experts to predict the CBD industry will grow to over $20 billion in the next four years from its current expected annual sales of $800 million in 2018. Veteran players in the market, like ZuRI, A CBD Supply Co., now with an added level of comfort and security in the products they are offering, are gearing up for what they expect will be a windfall in sales over the next few years. As a result, expect to see many race to innovate the industry with the latest CBD-infused product lines, including skin care and food and beverage.
About ZuRI, A CBD Supply Co.: ZuRI, A CBD Supply Co. is focused on manufacturing and marketing a wide range of CBD products with a focus on quality ingredients that enhance the user experience. Products are manufactured in a cleanroom environment equipped with 6 HEPA filters and UV sterilization lights. ZuRI, A CBD Supply Co. Offers one of the largest CBD product portfolios in the CBD market with over 70 items currently and many new products in various stages of research and development. The entire ZuRI product offering is 100% THC Free as verified by independent third-party testing. Please visit http://www.zuricbd.com for more information.
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