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Monday, September 26, 2022

Cannabis Renaissance

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The stigma seems to fade quickly on the Indian lawn. From provoking an intoxicating agent to an alternative remedy for joint shock, insomnia, anxiety, and other urban health disorders, cannabis has finally arrived in smooth avatar, packaged in bottles of essential oils. It’s become #shelfiegoal2022, featuring a therapeutic, oil-powered dose of CBD to kick your healthy shakes off. It’s clear that hemp products have previously jumped, out of reservations and misconceptions, on the alternative medicine bandwagon. The cannabis economy is growing.

The medicinal properties of the plant find specific references in the ancient Vedic literature. Atharva Veda cups of cannabis as a remedy for many ailments. The Sushruta Samhita, dated between the 3rd and 8th centuries BC, advocated the use of cannabis for expectoration and diarrhea. However, with our common perceptions of ganja on the ghats, terra cotta being passed in clouds of smoke, and cannabis capturing the senses, the state has silently continued to grow the “psychoactive” cannabis, a cousin of marijuana, often with religious people. and medical dialects.

The acceptance of the versatile cannabis has finally gained well-deserved ground, with cannabis-powered wellness products being sold online, and it has emerged as the best seller in the space. “When we started, we had to explain why wearing a hemp shirt wouldn’t poison. Today, people of all generations buy our products and choose to treat themselves holistically with a natural source,” says Yash Kotak, co-founder of Mumbai-based BOHECO Bombay Hemp.

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Hemp provides healing and nourishment, and with over 25,000 ways this single plant can be used, it’s the most sustainable and eco-friendly resource available. “This is definitely just the beginning. We still have miles to go to unlock the potential and with the right kind of R&D practices, the world is our oyster,” says Chiraj Tikchandani, co-founder of BOHECO, adding: “Over the past two years, revenue from operations has grown At over 25 percent Prior to that, we had been operating at a three-year compound annual growth rate of 93 percent. The hemp fiber and hemp seed segments are expected to experience significant compound annual growth rates of 27 percent and 25 percent respectively during the forecast period.

The cumulative share of these two segments was 47.6 percent in 2019 and is expected to reach 50.1 percent by 2027. We are also exporting our products to more than 10 countries but the bulk of our D2C audience is from India. Repeat buying is the highest in this category with over 43 percent of our audience coming back for more. That says a lot.” This sudden shift has featured prominently since the shutdowns, prompting more startups into the space. Cannabis has now found more acceptance, achieving tones of a “medicinal herb,” compared to the previously named poisoning source.

There was a time when the arrival of an oil-infused CBD preparation at home might freak out our loved ones. They thought we were taking drugs. Now, these people use it for numerous therapeutic purposes. There was a general loosening of the situation. More players are hitting Boomtown today. “The growth rate of this industry is directly related to awareness about the legality, availability and benefits of this plant,” says Richa Gaggi, co-founder of Oshad, which was launched last year. “I feel that this softening of the situation could be directly related to the increasing popularity of cannabis around the world. Countries such as the USA and Canada have started the destigmatization movement for cannabis and have funded many researches to find out more about it.

They discovered two things: the plant has different medicinal properties, and its properties have been misrepresented.” Learning is clearly spreading. “At IHO, our growth rate was 200 percent year-over-year,” says Lovina Sirohi, co-founder and director of Bengaluru-based India Hemp Organics. We have seen a diverse age group of people adopt hemp and hemp products into their lifestyles. Our oldest patient today is 94 years old, and he consumes Sleep Well CannaBliss oil on a daily basis to improve sleep.” She adds: “With the outbreak of the Covid-19 virus, cannabis has helped combat a wide range of diseases, including depression and anxiety that have increased during lockdown, from through medicinal oils containing cannabis.”

The shape and use of the products attract a cross section of the population with oils, balms and creams. “They are used to treat pain, inflammation, arthritis, pimples, eczema, itchy skin, and more,” says Jaggi, adding, “Cannabis eaters like tinctures and gummies are aimed more at men and women over the age of 18, who suffer from insomnia, stress, Anxiety, chronic pain, gut health issues, etc. People with epilepsy or those undergoing chemotherapy swear by this product.” With the industry achieving significant wins in FSSAI adoption and cannabis recognition, a natural approach is the way to go. But a word of caution: Cannabis leaf falls under a Schedule E-1 drug, according to the Drugs and Cosmetics Rules, 1945 and any medication containing a Schedule E-1 substance should be taken under medical supervision.

Holy truth

Look for the authorized seal of the Ministry of Ayush, Government of India, on the products
Medicinal products containing cannabis are considered safe to use and not addictive, especially if taken under medical supervision.
The expensive labels can be attributed to the difficult supply chain as hemp is mainly grown in Uttarakhand on the foothills of the Himalayas.

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