What The 2018 Farm Bill Means For Hemp Edibles
An Overview of the 2018 Farm Bill
The 2018 Farm Bill was a key regulation that influenced the hemp industry. This bill removed hemp, a type of cannabis plant, from the list of controlled substances. This action brought significant changes to the hemp business, as it became legal to cultivate, transport, and sell hemp across the United States. Because of these changes, hemp-based products, including hemp edibles such as cookie dough edibles, increased in popularity.
What it Means for Hemp Edibles
Hemp edibles are food items infused with hemp extracts. A popular type of hemp edible is CBD-infused edibles, where CBD is a non-psychoactive cannabinoid derived from hemp. With the 2018 Farm Bill, these hemp edibles became accessible nationwide.
Before the passing of the 2018 Farm Bill, the legal gray area surrounding hemp cultivation and distribution meant many consumers and businesses hesitated to engage with these products. However, once hemp became a legal agricultural commodity, it led to a surge in demand for hemp edibles.
The new legislation allowed for more research and development, leading to the production of a wider variety of hemp edibles. This includes everything from gummies and chocolates to baked goods and beverages. The increased competition pushed manufacturers to improve the quality of their products and be more creative with their offerings.
Changes in the Hemp Edibles Market
The Farm Bill had a profound impact on the hemp edibles market. The increased interest in hemp and CBD products led to a boost in the value of the CBD market. Market experts predict that the size of the hemp-derived CBD market will reach $22 billion by 2022.
Industrial hemp farming also saw a significant rise due to the 2018 Farm Bill. In 2017, around 25,000 acres were cultivated for hemp, and by 2019, the figures had risen to 230,000 acres. This dramatic increase displays the immediate impact and potential of such legislation.
The supply chain for hemp edibles also became more structured and transparent. From farmers to processors, to distributors and retailers, all parts of the supply chain experienced growth and opportunities for expansion.
Challenges for Hemp Edibles
While the 2018 Farm Bill sparked optimism for the hemp industry, it has not been without its challenges. The U.S. Food and Drug Administration (FDA) maintains that it is illegal to introduce food containing added CBD into interstate commerce.
Furthermore, the FDA has expressed concerns about the health impacts of CBD and continues to explore the substance’s effects. While CBD is generally believed to be safe, more research is necessary to fully understand its long-term implications.
Conclusion
The Farm Bill of 2018 has reshaped the landscape of the hemp industry and the market of hemp edibles in particular. As the industry continues to mature, it’s likely we’ll see the development of more innovative hemp edible products and stricter regulations to ensure safety for consumers. Despite present challenges, the legalization of hemp has undoubtedly opened up a new world of possibilities within the hemp edibles market.
