Companies high on cannabis compound
TORONTO — It’s being touted as the next new miracle ingredient for everything from pet treats, to anti-aging face creams to elixirs that can help an athlete’s aching body recover faster.
But that’s not the only reason that cannabidiol, or CBD — a compound derived from cannabis that doesn’t get people stoned — is being eyed by companies of all stripes, including beverage giant Coca-Cola.
Regulations and attitudes are warming up to it and the potential for CBD-infused products to be available on grocery or pharmacy shelves — instead of in tightly regulated pot shops — is in the not-so-distant future.
Including in Canada down the road, says Trina Fraser, an Ottawa-based lawyer who advises the cannabis industry.
Globally, the market for CBD could be “massive,” she said.
“Think about cosmetics, and skin creams, and arthritic topical creams, and all sorts of types of products that you would go to a drugstore to buy that could have these potentially therapeutic effects from CBD . ... That’s certainly not unrealistic, and I think, in fact, odds are we will be there (in Canada), I hope, within the next five years.”
CBD is a compound found in cannabis and hemp heralded for its therapeutic effects, but does not produce a narcotic effect. Tetrahydrocannabinol, or THC, is the psychoactive compound that gives users a high.
Products with CBD in Canada are illegal unless authorized for medical purposes, according to Health Canada.
When Canada legalizes pot for recreational use Oct. 17, products with CBD will be regulated similarly to marijuana products.
But restrictions on CBD are showing signs of easing, particularly in the U.S., and the growth projections for the market are now dramatically higher than CBD — a compound derived from cannabis that doesn’t get people stoned — is being eyed by many companies of all stripes.
they were a year ago, Brightfield says.
It could outpace the rest of the cannabis market to reach US$22 billion by 2022, according to its recent report.
Hemp and cannabis are Schedule 1 federally controlled substances in the U.S. CBD is legal in all 50 states, but only if derived
from industrial hemp cultivated for academic research or agricultural pilot programs.
However, if the 2018 Farm Bill working its way through the U.S. legislative process passes, it would allow for the full legalization of industrial hemp in the United States, allowing CBD to be sold across state lines.
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