Texas CBD Industry is Really Evolving By Harish Chandra

Texas CBD Industry is Really Evolving

Harish Chandra | Tuesday, 29 October 2019, 11:11 IST

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Texas CBD Industry is Really Evolving

According to Forbes, the CBD market is estimated to grow by 700% in 2020. The current CBD supply has been estimated to meet just around 5% of the global demand and the global market is estimated to reach up to $12 billion by 2024.

In case you’re wondering what CBD is, it is a cannabinoid found in hemp and marijuana plants. While most people associate CBD with getting high, in reality, there are no psychoactive properties in CBD because it lacks THC which is the main psychoactive compound in the plant.

The CBD industry is gaining momentum worldwide as a lot of research has proven the medical benefits of the chemical compound. CBD has a lot of medical applications including relieving pain and helping with anxiety. You can find more on the topic here.

In this article, we’re going to take a look at the CBD industry in Texas and the challenges faced by players operating in that segment. As the global demand for CBD keeps increasing, it is important to keep an eye on the developments of the industry.

While the overall outlook is not exactly perfect for now, there’s no denying that the Texas CBD industry is really evolving these days in a major way!

Legal Status of CBD oil in Texas

When it comes to the CBD industry, Texas has always been somewhat of an oddity. While it is one of the largest states in the United States with a thriving market for CBD, the laws and regulations had effectively made CBD somewhat illegal.

The problem with the regulations and law in Texas have often made the state kind of a weird situation for the CBD industry.

However, in recent times, the government enacted a bill that aims to regulate the production of hemp in the state from which CBD is extracted. The new legislature enables the legal production of hemp in the state which can give a big boost to the CBD industry in Texas.

The hemp cultivation program created by House Bill 1325 (HB1325) would be regulated by the Texas Department of Agriculture (TDA). “Hemp” has been defined as cannabis plants that have less than 0.3% THC, which is perfectly in line with the 2018 Farm Bill.

HB1325 also has a lot of provisions related to the testing, transportation, production, sale of hemp and also other aspects such as seed certification, labeling requirements, and others.

While it had a long time coming, the bill inspires confidence in the CBD industry in Texas and soon enough, Texas could be a leading player in the national and international CBD industry.The revelations of the legislature are yet to be seen but it definitely a major step and is indicative of a major evolution of the Texas CBD industry!

Overview of the Texas CBD Industry

Along with leading CBD markets like New York and California, Texas is on its way to becoming one of the major markets for hemp CBD oil. The current industry is already at a decent level with many brick and mortar shops in major cities like Houston, Dallas, and Austin alongside many options that are available online.

One of the major players in the Texas CBD Industry is Compassionate Cultivation. With its headquarters based in Austin, the company is one of the leading CBD companies in the state. The company carries all its operators from cultivation, extraction, packaging, and distribution in the state itself. The vision of the company is to transform the state through the power of medical cannabis and it has found a solid place in the evolving Texas CBD industry.

In addition, there are several medical dispensaries selling CBD products in almost all the major cities of the state including El Paso, Fort Worth, Brownsville, and San Antonio. The products these dispensaries sell are usually smokable/capable or edible. CBD products like gummies, capsules, and cartridges can be bought easily from any vendor in the state.

The town of San Antonio is especially known for the flourishing CBD industry. Some locations have added features like a juice bar where customers can buy a wide range of products while enjoying smoothies or juices.

American Shaman is another big player in the growing Texas CBD industry offering a lot of products like flavored and unflavoured CBD oils, gummies, or even pre-rolled CBD joints. They are known for their reasonable prices and sell both retail and online.

These days, you can find a lot of new products in Texas too such as MCT oils which are being received very well by the consumers. All these are the signs of a growing industry that will only get better with supportive legislatures like HB1325.

Overall, the CBD industry is growing fast in Texas due to the growing demand of consumers. While there are a few sketchy companies, most companies are transparent about their manufacturing processes including details about testing, extraction, and production.

Since the production is being regulated, the industry is gaining the trust of the market by providing a reliable product at a decent price. If the industry keeps growing at this pace, it could soon almost match the markets of New York and California and the lone star state could emerge as one of the major hubs for the production of CBD.

Conclusion

There is no denying that the CBD industry is really evolving in Texas and it is soon going to be one of the major hubs of CBD not only domestically but also on an international level. It is exciting to see how the future of the industry shapes out over the years but for now, everything seems to be on the growth train with no signs of stopping!

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