The CBD industry is starting to boom and there cannot be a better time than now to channel your entrepreneurial spirit if you are looking to start a CBD business of your own! Until then, however, if you are looking to venture into buying CBD products, there are numerous of these outlining the Indian market space. What’s in it for you? A range of products that employ CBD as the main ingredient and incorporate its properties to come up with some fantastic therapy and wellness solutions. CBD and hemp businesses in India are really crafting a niche of their own. But what does the future of CBD look like in the Indian economy?
Why are an increasing number of businesses in India using CBD in their products?
A component found in hemp and cannabis plants - Cannabidiol (CBD) is starting to make for a great active ingredient in products of wellness and health. This has contributed to the rise and boom of CBD businesses in India and the industry is projected to hit a major high.
As for why the sudden escalation in the number of these CBD businesses, it could point to the fact that in recent years there has been a discovery of the therapeutic benefits of CBD and its role in alleviating pain and help in various therapies.
Ranging from CBD oils to tinctures to hair products to gummies to topicals, the sector is seeing an emergence of sorts.
Bingedaily spoke to some of the CBD businesses in India that have been well on their way to producing products that revolve around infusing the benefits of the CBD into them. But we ask, how profitable are CBD and hemp businesses in India really!
Why are hemp businesses in India growing?
In recent years, you may have started to notice the dominance of hemp in the fashion industry, therapeutic products etc. The reason could point to the product being conducive to be used as a fibre and abounding in nutrients that nurture the skin and hair.
Three minds that thought alike came together in an attempt to eradicate the stigma about hemp as a whole. Hempistani Trading LLP was born. In order to go about exploring this multi-billion-dollar hemp industry, which holds the potential to bring along prosperity to several other sectors, these three founders integrated new technologies with traditional processes.
“Hemp has spun usable fibre more than hundreds of centuries ago, and we co-ordinate with farmers, manufacturers, and retailers for a direct relationship with the domestic industry. We strive to build sustainable hemp commerce.”
Kshetrimayum Brojendro Singh, Mohit Aery and Aman Nick, Co-Founders of Hempistani speak of the products that are part of their diverse range of hemp solutions. These include hemp seed oil, hemp seeds, hemp salt, hemp pasta, hemp flour, hemp protein powder, hemp hearts, hemp apparel, hemp stationery, hemp personal care and grooming products, CBD products, medical cannabis, hemp bed sheets, hemp bath towels and so on.
Speaking of how business has shaped up and the future of the hemp industry in India, they say “CBD and hemp-based products are actually picking up in a big way. When we started back in 2019, there were a handful of companies making the products out of hemp and only 1 or 2 companies who were manufacturing CBD and medical cannabis-based medicine.”
Today, they say, there a lot of companies and young entrepreneurs who have jumped into CBD based products and the future is bright for cannabis in India.
Is growing hemp a profitable business?
Many wonder about the revenue aspect of growing hemp and how profitable is it really. Experts say that hemp is one of the most profitable cash crops grown around the world and while this depends on the type of cannabis chosen, it also depends on the growing conditions. In some good news for hemp cultivators, it is said that the hilly regions of the North are perfect for cultivating hemp owing to the water scarcity and high altitudes.
Hempstrol - India's Most Premium CBD and Hemp brand has an objective to work with fellow hemp brands and bring the hemp industry out to the masses.
Deepika Sharma, Co-Founder and Managing Director of Hempstrol says that the brand has a non-psychoactive range of signature full-spectrum CBD products such as oils, balms and soft gels. These products are not limited to humans alone but extend to even pets.
“There are products that are solely for application purposes such as the Menstrual Cramp Relief Oil, Migraine & Cold Relief Oil, Athletic Care Oil etc. There are also Full Spectrum Pet CBD Oil for pets that have separation anxiety, tumours, cancers, arthritis to many more diseases,” says Deepika.
“Our vet on board administers the product accordingly to the pet’s need and the oil is consumed orally,” she says going on to highlight that people who have had conditions such as insomnia, anxiety, fractures, ADHD, sports injuries, Parkinson’s disease, and even metastatic pancreatic cancer have benefitted from the oils.
The CBD oil used by Hempstrol is extracted from the highest grade indoor Therapeutic Hemp Farms grown on foothills in Rocky Mountains, Colorado. “The business of CBD/hemp is only profitable when a company makes sure that the products they develop are therapeutic and work 100% on the disease they are intended to cure.”
Deepika feels that as pioneers of the CBD industry, their advice to upcoming companies is to have a focus on extensive research to build quality products. “Hemp farms are opening up in many states in India and as extractors, we would only expect a plant that's rich in the cannabinoid structure. According to law only plants below 0.3% THC are permitted to grow. As an industry, we all have to join hands in educating our farmers more about the science involved in growing hemp. There is great potential for the export of CBD that will surely grow the economy in India and create jobs.”
Why are CBD and hemp businesses in India focusing on CBD oil?
CBD extracted from the cannabis plant is diluted using a carrier oil and the resultant product has boomed into an industry of its own. Acclaimed for its therapeutic benefits, CBD oil has been a product that has made news for its properties of reducing inflammation and joint pain.
Benazir Bakht says that CBD Oils India was started with the belief that a sustainable future is the only way to celebrate humanity. “Our mission is to promote a sustainable organic lifestyle and create social impact.”
In a marketplace for medicinal hemp extracts and hemp-based products, the view is that prescription pills for chronic conditions cause more harm than relief, and CBD presents itself as a perfect natural solution. “In the past few years, as the awareness of the medicinal properties of cannabis has increased, Indian consumers have shown more interest in cannabis extracts. The market share has risen considerably. The future is promising for CBD. It's time for all of us to Go GREEN.”
Are hemp soaps starting to be the new trend?
What started as a simple idea of making eco-friendly candles by a visionary, who happens to be a mother and a feminist, turned into a more beautiful idea of going green, going organic, by her son, Kiran, the founder of Irie Store.
Three years ago, Kiran took over and expanded his mother’s vision widely into the fields of organic farming: Irie Farms India, hemp soap manufacturing, Irie Kitchen India (on a subscription basis). Irie Store is promoting permaculture, hydroponics, and organic farming.
Artisan hemp soaps have become popular with this initiative. Speaking of how hemp acts as a great material for producing soaps, Kiran says that hemp oil which is the main ingredient used in the soaps is one of the world’s richest sources of polyunsaturated fats while also including two of the most important essential fatty acids - Omega 3 and Omega 6, and gamma-linolenic acid.
“These fatty acids are essential in helping maintain the natural moisture content in the body. They act as a wonderful all-natural moisturizing agent for the skin. Unlike other antibacterial or anti-inflammatory soaps, hemp soap doesn’t contain any nasty chemicals which dry out the skin.”
Hemp is an incredible environment-friendly solution and the oldest domesticated crop known to man. “For Irie, hemp is a problem-solving crop,” says Kiran “It can literally be used in any manner for our day to day lives to be easy and of course, we believe in the hemp industry being one of the biggest in India in the near future. India has great potential and has already realised to bring hemp into the spotlight as the current days demand sustainability and natural living for which hemp is a very effective solution.”
How are CBD and hemp businesses beneficial in India?
“Magiccann is a medical cannabis brand that produces full-spectrum CBD oil tinctures, CBD balms, and massage oils,” says Mohammed. “Our motive is to get CBD into all the areas that it could work wonders like pain relief in terms of cancer treatment, Autism, Parkinson’s and other diseases. During this pandemic, the legal cannabis market is seeing a sales spike and it is growing at a high rate.”
To answer the question of how exactly CBD and hemp businesses are beneficial to the Indian population, there are several facts that point to this. CBD and hemp are non-psychoactive and thus are not responsible for the ‘high’ that a person would find themselves experiencing with marijuana or weed. This is because cannabidiol contains negligible amounts of THC which is the psychoactive ingredient.
Thus, with minimum risk of experiencing a high, maximum therapeutic benefits, and anti-inflammatory properties, CBD and hemp are favourable options for the economy.
Does the future look bright for the CBD market in India?
At Cannarie, the focus is on bringing forward hemp as a natural medicine to counter the lifestyle-based chronic illnesses rampant in India. “We are unique in the market as we put specific terpenes (work in synergy with CBD/THC) in our blends that target the chronic illness our products are made for,” says Siddharth Singh Kunwar.
The products are aimed at the following:
- Anxiety relief- an edible low dose CBD/THC tincture to calm anxiety, ease sleep, boost immunity, and stimulate appetite
- Pain relief- an edible high dose CBD/THC tincture that helps fight the most stubborn of pain and is mostly used post-surgery, post-chemotherapy, and during injury recovery.
- Cannalube- a fun lubricant for women of all ease, it heightens arousal, eases discomfort, and makes great sex even better.
- Arthritis oil- a topical blend of full-spectrum cannabis in a blend of botanical oil that provides cooling relief instantly to arthritis pains, muscle soreness, and painful joints.
Siddharth says that they see huge market potential for CBD and other cannabinoids in India as they alleviate illnesses that are cured these days with synthetic unnatural medicines that expose patients to multiple harmful side effects. “We are currently researching CBG, a cannabinoid similar to CBD, which we have isolated in high concentration in farms in Uttarakhand. CBG has shown promising results against cancer-causing cells.”
The Government of Uttarakhand had issued a license to launch a pilot project in India. This was in an attempt to promote the cultivation of hemp in the Pauri Garwal district. The multi-beneficial crop if gains impetus in trade and export will give the local farmers a chance to improve the standard of their living.
As far as how the future looks for CBD and hemp businesses in India, it is bright, say those who study and observe the market. Entrepreneurs are starting to take notice of the crop and its versatility, and this can be a boon for the industry.