U.S. sales of CBD are expected to grow 14% and reach $4.7 billion in sales in 2020, according to a new report from the Brightfield Group. However, growth in the CBD sector has been stunted by industry headwinds and other coronavirus-induced challenges.
Consumer interest in products containing cannabidiol (CBD) is growing, according to New Frontier Data, a global cannabis research firm based in Washington D.C. A pair of recent white papers published by New Frontier help to illustrate the opportunity in the burgeoning American CBD market, which could be worth $20 billion by 2024 according to Colorado-based cannabis research agency BDSA.
The Consumer Brands Association (CBA) yesterday announced the formation of coalition dedicated to advocating for stronger enforcement of the CBD industry. In a press release, CBA said the group – which includes top law enforcement, retail and consumer watchdog organizations – would work to advocate for “uniform federal policies around cannabidiol.”
Attempting to restrict Americans from using CBD is a “fool’s game,” according to FDA commissioner Stephen Hahn. Hundreds of companies aiming to capture a slice of a still-emerging category -- one that is defined by a murky regulatory framework and an immature body of scientific evidence -- have cropped up, infusing everything from beverages to bath bombs with CBD.
Legendary guitarist Carlos Santana is getting into the cannabis businesses. The 10-time Grammy award-winning artist who was inducted into the Rock & Roll Hall of Fame in 1998 has partnered with Northern California’s Left Coast Ventures to develop a line of cannabis and CBD products.
BDS Analytics, a research firm that tracks cannabis sales in the U.S., recently sized up the CBD market as part of an intelligence briefing created in partnership with Arcview Market Research. The two firms said sales of CBD-infused products totaled about $1.9 billion in 2018, but the market is expected to reach $20 billion by 2024.
Greenbox bills itself as “the first fully automated CBD kiosk,” a 6-foot-tall, highly technical piece of machinery that founder Zack Johnson is producing domestically. Customers are greeted by a large touchscreen and an array of products arranged into lifestyle categories such as “Drift and Dream” and “Release and Recovery.”
The U.S. Food and Drug Administration (FDA) wants cannabidiol (CBD) users to know that the popular additive found in everything from bath salts to beverages could be harmful. On Monday, the agency sent warning letters to 15 companies that it said were illegally selling products containing CBD
After learning that BrewDog-branded CBD beverages would be too disruptive to the brewery’s core mission, former craft beer executive Tanisha Robinson decided to strike out on her own and launch W*nder (pronounced “wonder”), a sparkling CBD-infused water brand based in Columbus, Ohio.
Earlier this year, Celtics basketball legend Paul Pierce hauled in $2.8 million in private equity and family office money to help expand Vesper, the Boston-based company he co-founded with entrepreneur Elliot Mermel in 2017. Vesper partnered with Eaze Wellness as its exclusive provider of both the battery and the CBD cartridges.
Lighthouse Strategies -- the company behind Cannabiniers and the Two Roots line of CBD- and THC-infused non-alcoholic craft beers -- is adding sparkling water to its growing portfolio of beverages targeted at cannabis consumers. The company today announced the launch of Creative Waters, which Cannabiniers described as “fast-acting, micro-dosed sparkling waters,” that were “created to help you fee