Sales of CBD are predicted to hit $22 billion in 3 years—and much of that projected growth is coming from CBD’s newly minted status as a health and wellness product
CBD’s newly minted status as a health and wellness product, where it’s treated as a
lifestyle oil that relieves pain, fights inflammation and provides consumers with a general sense of well-being, all without the “high” effects that can come with CBD’s sister extract, THC. Until recently, cannabis was looked at as medicinal- or adult-use. With CBD, a third cannabis category — wellness — is emerging.
It’s even catching the eye of retail analysts at Wall Street firms such as Piper Jaffray. Recognizing that stores, such as Sephora, are now dedicating significant shelf space to CBD, one analyst said that she expects to see a lot of growth in theAs the CBD market grows, it will pave the way for THC products . Today, cannabis companies can establish relationships with retailers and build brand awareness with consumers through CBD.
For now, CBD is being infused into face creams, bath bombs, makeup and dozens of pet products. Proponents say it works on everything from to aching joints, relieves anxiety and skin conditions, and relaxes and rejuvenates all parts of the body. A large part of this expanding category is the edibles market, where CBD is being touted as a
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