How is Coronavirus affecting the CBD industry?

COVID-19 (also known as the Coronavirus) has made its way into pretty much every aspects of our lives. Everyone is staying home as much as possible and doing what they can remotely. This has had a major impact on every industry. As you can probably imagine, the cannabidiol (CBD) industry has not gone untouched by the effects of COVID-19. There has been some good, and a fair amount of not-so-good.

CBD: a quick definition

Here at Panacea Life Sciences, we are big believers in make sure that everyone is properly educated about CBD. So, before we can really get into the details of what COVID has been doing to the industry, we need to talk about what CBD even is.

Cannabis plants have a large amount of a specific kind of chemical compound known as cannabinoids. In fact, cannabis has over 113 different cannabinoids. Among that very high number is CBD, one of the better-known cannabinoids, but there is one that often outshines it.

That cannabinoid is tetrahydrocannabinol (THC). THC is so famous because it is psychoactive. That means that it creates the intoxication that is normally referred to as a “high.” It is important to know that THC is the cannabinoid that creates the high, because CBD is often thought to be psychoactive when it is not. CBD does not create any high.

Many people use the words cannabis, hemp, and marijuana interchangeably. However, the fact is they are all words referring to different things. Cannabis is the genus of the plant. It is referring to different, but similar plants. Hemp and marijuana are the two main different kinds of cannabis. The differences between them are important and are based on the concentration of cannabinoids. Marijuana has high levels of THC and low levels of CBD. Hemp, on the other hand, has high levels of CBD and low levels of THC.

These differences between marijuana and hemp have been deciding factors in their legalization in the United States. Hemp is federally legal; farms can grow and sell as much of it as they want. This is likely because it has less than 0.3% of THC. Meanwhile, marijuana is still federally illegal. It is legal to some degree in many states, but overall, it is still illegal.

Hemp’s cannabinoid content is also what makes CBD manufacturers use it to make their products over marijuana. The high CBD content makes it easy to isolate the cannabinoid. The low THC content makes it so there is less to filter out during the extraction (it also makes it legal across the country).

CBD has many potential benefits to offer people. Studies show that it may have a calming effect on people who use it, helping them with their state of mind. Other studies suggest that CBD may be able to help with acne and other skin conditions. There are many reasons why people use the cannabinoid and as more studies are done on it, the more reasons to use it come to light.

What is happening to the CBD industry during all of this?

Now that we have given a quick overview of what exactly CBD is and why it is in demand, let’s talk about what is going on with the industry right now.

Just because people are staying home most of the time, does not mean that people have stopped needing or wanting CBD products. There is still a demand for the products, but it is the distribution that is a bit of a problem.

One of the main things that has happened is that many CBD stores and stores that sell CBD products have had to temporarily close their storefronts because of social distancing guidelines and stay at home orders. This means that many have had to either rely more heavily on their websites and online stores or shut down entirely for the time being.

Those who have been focusing on their online stores also have needed to ensure that they are following sanitation and social distancing guidelines, not just to protect their customers but also for the health of their employees. That mixed with the delays in the postal service (caused by high demand), means that people do have to wait a little while longer before they get their products.

One good thing to come out of all of this, is that many CBD manufacturers have been looking for any way that they can help their communities. As a result, many have shifted their focus. Many manufacturers have been using machinery that they already had to make hand sanitizers. Of these CBD-turned-sanitizer companies, many have been either giving away their sanitizers to communities who need it or selling it for as low a price as possible.

This experimenting with hand sanitizers has also led many CBD manufacturers to develop CBD infused hand sanitizers. The appeal of these sanitizers lies in a few different places. First is that CBD may be able to help reduce inflammation. Meaning that if you have sore, inflamed hands, these sanitizers may be kinder on your hands than the more chemical-based alternatives. There are also studies that suggest that CBD may have certain anti-bacterial properties. That does not mean that CBD on its own makes a good sanitizer. But it does suggest that the cannabinoid may be able to give a little boost to an already sanitizing product.

Clearly, the CBD industry is not untouched by the COVID epidemic. But, like everyone else, we are just trying to adapt as best we can, in order to keep our doors open (even if just figuratively) and serve our communities however we can.

Want to browse some CBD products? Have any comments, questions, or concerns about CBD? Then you are on the right site. Here on the Panacea Life Sciences website we have a wide range of high-quality CBD products. We also have articles covering anything and everything about the cannabinoid. If those do not answer your questions, feel free to contact us, either through our site or by emailing [email protected].