The retail market for products containing cannabidiol, or CBD, is projected to expand rapidly in the coming years amid the growing acceptance of hemp and marijuana across the country.
“Experts believe CBD consumer sales could reach $2 billion by 2022,” said Nik Modi, an analyst with RBC Capital Markets, in a recent webinar called, “Is CBD the new Energy Drink?”
The webinar was sponsored by Floyd’s of Leadville, a supplier of CBD products, and presented by CSP.
Although hemp-derived products such as CBD oil have been on the market in some states for the past few years, the products have been sold in a legal gray area because they technically have been illegal at the federal level. The passage last year of the 2018 Farm Bill, which legalized hemp production across the country, has opened up opportunities for products containing CBD, Modi explained.
Download the full executive summary here.
This post is sponsored by Floyd’s of Leadville