The Cannabidiol industry has experienced a tremendous increase in growth that other industries could only dream about. Today, there are a lot of fascinating facts and statistics about it. And yes, these stats are fun and all, but they also serve as a great source of information on CBD and its market. Here’s a brief rundown on some facts you may have never heard of.
It is really intriguing to find out that there are several useful and beneficial CBD-based products people purchase from the market. As a matter of fact, these products present 50% of the cannabis market. According to research, the most used CBD products include CBD oil and tinctures (44%), CBD topicals (26%), CBD capsules (22%), and CBD-infused beverages (19%).
CBD is often put to great use — the U.S. Statistics show that 7% of Americans are using Cannabidiol in one way or another. The population has shown wide interest in the CBD industry. In fact, the U.S CBD industry touched $367 million in sales across marijuana-derived and hemp-derived markets in 2017. But when it comes to the sales channel, case studies show that by 2022, 41% of all sales will be done over the internet. Retail sales are estimated to reach $16 billion by 2025 in the United States.
One of the major sectors of the Cannabidiol industry is its oil market. Over the past years, the sector has experienced huge boosts to its growth rate. As of 2017, it reached $190 million worth of sales. Today, it is estimated to reach $2.17 billion by 2023.
Animals are great companions, and the Cannabidiol industry has looked into this. CBD pet-and-animal goods are now being produced and sales are expected to reach $125 million. This would also boost the overall worth of the CBD industry.
For more comprehensive and concise information on the various stats and facts of the CBD industry, readers can refer to this cool infographic. With more accurate statistics provided, you’ll gain even better insights on the Cannabidiol industry.
The post A Look At The Incredible Success Of The Cannabidiol Industry appeared first on ValueWalk.