CBD Products Have a Huge Impact on Growing Cannabis Wellness Industry
With CBD products promoted right on the Academy Awards stage, there’s no doubt this market is growing like never before. СBD sales will increase to $22 million in the next three years.
Partly, such fast growth is caused by the status of a wellness product that CBD got thanks to its management features without producing the high. Wellness goes beyond adult-only and medical-only consumption, so the demand for healthy CBD products is blowing up.
Sephora, a big beauty brand, now has dedicated shelves for CBD. This year, many Oscar gifts were CBD products. Even Martha Stewart is in the game.
The Farm Bill that came into force last year contributed a lot to the CBD popularization. It legalized cultivating CBD and allowed it to cross state lines.
There are still problems to solve. FDA is developing regulations for edible CBD. Currently, edible CBD-containing products are restricted in New York, Ohio, and Maine. It’s not legal to sell food and beverages with cannabidiol there.
About 7% of Americans currently use CBD products, which is predicted to increase to 10% in the next couple of years, bringing new users to the growing wellness market.
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