Why this will be the decade of CBD

Increased education efforts by medical professionals and lowered prices will only continue to keep driving the industry up

Think we’ve achieved some saturation point for all things cannabidiol (CBD)? Think again. The hemp-based CBD extract market will become a $2.25 to $2.75 billion industry in 2020, according to Nielsen projections. In five years, they expect those figures to more than double. The company predicts CBD will become a $6 billion industry by 2025, when CBD-infused food and beverages become more widely available.

Their 2020 projection, says Rich Maturo, vice president of cannabis practice at Nielsen, skews toward a conservative estimate. The company accounted for possible headwinds from any Food and Drug Administration regulations or other roadblocks that might comes this year.

A Grocery Manufacturer Association survey reports that 76% of Americans believe CBD products already fall under FDA safety regulations, despite no such regulations existing. Instead, the FDA announced last year qualified experts could not conclude if hemp-extracted CBD was Generally Recognized As Safe (GRAS) to include in human or animal food products. Despite all that, Nielsen believes the 2020s will be recognized as the decade CBD transforms from lifestyle trend into a business powerhouse.

By Brendan Bures, The Fresh Toast
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