CBD Market Expected To Pass 2 Billion by 2020
The hemp industry in the U.S. is booming right now and that is in large part thanks to the growing popularity surrounding CBD.
Last year, the hemp market was estimated to be worth $688 million, it's growing at about 22 percent every year, and CBD products are a large portion of the multi-million dollar success.
Market analysts suggest that the CBD market will explode and grow by 700 percent or more within just a few years time.
Since many CBD products are being made which don't contain the worrisome psychoactive THC component that gets you high, it's a product that has shown mass appeal with consumers of all ages.
Individuals with varying illnesses are increasingly turning to CBD for some sort of remedy, to see if it can help in some way. There are thousands of children being treated around the world currently with CBD, and adults using it to help with their symptoms as well.
Some lower estimates suggest that this CBD market could top $1 billion by 2020 and others have said that it might even surpass $2.1 billion or more.
Eventually, some market analysts suggest that the national cannabis/hemp industry will be worth well into the hundreds of billions of dollars; once it becomes a fully legalized market. It might reach $50 billion by 2026 and if it does that then it would account for more sales than craft beer and chocolate markets combined.
The sales in this industry are continuing to grow in a very big way. The cannabis industry is regarded as the nation's fastest growing industry at the moment.
CBD products aren't just for people either,...
as a growing number of veterinarians and pet-owners have also insisted that CBD is a beneficial product which has helped or has the potential to be helpful to many pets. There are already dozens of different companies out there today on the market that are offering CBD-related pet products.
The cannabis industry isn't showing any signs that it is going to slow down anytime soon; we see quite the opposite. And it's estimated that the global market for medical cannabis will soon exceed $55 billion, by the year 2025.
In 2016, legal cannabis products were purchased by North American consumers to the tune of $6.7 billion and that is an increase of about 34 percent from the previous year.
There have been countless success stories that have been shared online and across the media, detailing personal success stories with CBD use. Whether it's children finding remedy from their hundreds of daily seizures, or others who have claimed success from using it and being able to recover from what was believed to be a terminal illness. With the many people who have seemed to be able to find some benefit from taking this product, it's no wonder that it would prompt others to be curious enough into trying it for themselves.
Though CBD has proven to be helpful to many, and though it might potentially offer benefit and remedy to millions yet, bureaucrats insist on wasting time and standing in the way; doing all they can to try and prevent people from gaining access. Hopefully in time, things will change so that those who need the product will be able to have access to it; where many currently don't.
Pics:
medicalmarijuanainc
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The information that is posted above is not intended or implied to ever be used as any substitute for professional medical advice, or diagnosis or treatment. The above is posted for informational purposes only.
Sources:
http://markets.businessinsider.com/news/stocks/Sales-of-Medical-Cannabis-Products-Are-Expected-to-Grow-1002350020
https://thefreshtoast.com/cannabis/according-to-some-the-cbd-market-will-top-1-billion-dollars-by-2020/
http://www.news9.com/story/36287161/pet-owners-see-benefits-of-cbd-oil
http://metro.co.uk/2017/09/05/miracle-boy-who-was-treated-with-cannabis-oil-is-now-300-days-seizure-free-6905559/
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My wife has been using it for some time now it seems to help, cheers
Haha, help you? 😂
CBD is just growing succesfuly in a little time...nice informatic post dear,followed)
As a worker in the MMJ industry in Colorado, I can confirm that this is true. It's already happening.
I manage a dispensary, and every day more people come in looking for CBD products. Also, every time we get CBD stuff from a new supplier, the price has gone up. For example, a 100 mg edible that is only THC will cost $20. If you add equal parts of CBD to the same edible, It can be up to $40.
It's a little discouraging that CBD automatically gets a higher price tag. It's working on real problems for people, so they're willing to pay more.
I'm interested to see where the value of CBD goes in the long run. It really is a miracle medicine.
Thanks for a great post!
I moved out of CO before the CBD Isolate craze hit unfortunately. But, I can say with confidence that the wholesale price has been steadily dropping
I grow cbd strains and its very hard to get or trust people. Its becoming hell for us small little funded helpers. Thanks again
I know CBD can help so many. That's why you can't have it, till now, but not yet in my police state, but soon.
Think of how healthy and happy people could be if allowed to be free.
Nice, although I don't get the thing about just CBD oil. THC combined with CBD is the most potent combination of medicinal cannabis.
Not really, sure a buzz is nice, but CBD can heal without the high.
But I think a blend is best, from many strains. Unless your targeting something.
Once the research is out people can decide for themselves. Otherwise the big companys will only give you the high without the best parts. And we are right back where we started.
CBD is being overblown currently about providing all the medical properties of the cannabis plant. I think it's because of the negative stigma regarding cannabis and THC. Like, "Hey you can get the benefits without the high which made it illegal in the first place. CBD is all you need!" There are supposedly over 100 cannabinoids with more being discovered.
Yes CBD does provide a good chunk of medical value and alleviates many problems like seizures but THC, along with benefits from it being a psychoactive compound, has been shown to suppress cancer growth especially metastasis as well with other diseases. Take a look at "Rick Simpson oil".
I also tend to find it suspect that governments/big pharma are ok with CBD but not general cannabis oil.
CBD combined with THC can provide the most benefits. Cannabis in general is where it's at.
I was like its already over $10 Billion market?
Great post. Thanks for sharing information @doitvoluntarily
CBD treats cancer , I remove my buddies skin cancer off his shoulder all the time .
It always comes back but at least it can be reduced and held from getting bigger with cannabis oil .
THC is shown to prevent metastasis in cancer so the combination of the CBD and THC will be more effective in both reducing and preventing it from coming back!
Have you tried using Rick Simpson Oil for that? That's the exact way Rick Simpson used it originally: Topically, to fight cancer. :)
CBD to pass 2 Billion by 2020...sounds like a perfect vision for all in the crypto world!