Although there is a lot of hype around delta-8 THC from the marijuana industry, cannabinoids (scarcely found in the crop) are gaining favor among consumers and growers.
According to a survey conducted by Hemp Industry Daily, there has been a recognizable shift to cannabinoids among producers of hemp.
However, cannabidiol (CBD) continues to rule the roost. It’s the most preferred cannabinoid compound by growers striving to produce.
Also, one of the less-famous cannabinoid compounds (CBG) is garnering more popularity. During 2019, 19 percent of hemp cultivated for cannabinoid extraction purposes was CBG. Last year, that percentage increased to 43%. The amount of hemp cultivated for CBD declined from 96 percent in 2019 to eighty percent during 2020.
The change is due to public interest and research in cannabinoids. However, cannabidiol remains to be the most profitable compound within the hemp landscape.
Hemp grown for CBN stalled at almost the same percentage in 2019 and 2020, at 10% and 12% respectively.
Around 3% of farmers were growing hemp for delta-8 THC, a cannabis compound that has gathered prominence during the past year.
Processors of hemp have been purchasing excess distillate and flower from the market to create delta-8 THC, a smokable and ingestible extract that has wooed the hearts of many consumers.
The demand for delta-8 THC has assisted extractors and growers to remain afloat as the sector struggles with poor wholesale prices because of hemp saturation in the market and uncertain regulations, that have culminated in bottlenecks for cannabidiol brands.
In 2020 August, America’s DEA( Drug Enforcement Administration) unveiled an interim final rule in which hemp sector opponents claim that various extracts, like delta-8 THC, belong to Schedule 1 regulated substance.
Nonetheless, the commodity’s legality can depend on if it’s derived organically or made synthetically.
The HIA (Hemp Industries Association) and a CBD manufacturer from South Carolina have a pending lawsuit over their DEA rule interpretation.