CBD is on everyone’s mind these days. And not surprisingly, the CBD market is booming. Years ago when gluten free food first became visible in the wider market, we saw many of the same things we’re seeing with CBD today.
Below are some interesting stats on the current and projected status of the CBD market
• CBD market projected to reach $22 billion by 2022 according to Rolling Stone
• Hemp derived CBD is expected to outpace the growth of all other cannabis products including – wait for it – marijuana! (Brightfield Group)
• CBD market projected to experience 700% growth. (Forbes)
• Just some of last year’s new CBD products included beer, lotion, brownies, pet food, ice cream, popcorn to name just a very few.
• Nearly half of the people who take CBD stop taking traditional medications. (Forbes). This is the one that has big pharma on the warpath.
After a decade of wide market penetration, gluten free remains one of the fastest growing categories in the food industry. It will be interesting to see how the story unfolds for CBD.