BDSA updated its cannabis market forecast — a five-year rolling global forecast by country, state, province, channel and category — to show that annual global cannabis sales are projected to grow from $30 billion in 2021 to $57 billion in 2026 at a compound annual growth rate (CAGR) of almost 13%. In the United States,…
U.S. Cannabinoids Market Expected to Expand
ResearchAndMarkets.com recently added its report on the U.S. cannabinoids market size, share and trends based on product and segment forecasts from 2022-2030 to its offering. The U.S. cannabinoids market size is expected to reach $60.4 billion by 2030 and is expected to expand at a CAGR of 16.2%. Growing awareness regarding the health benefits provided…
CBD Market Has Potential to Grow Significantly
According to a report published by Data Bridge Market Research, the global CBD market is expected to gain market growth from 2022 to 2029, with growth at a CAGR of 27.8%. Technological advancements in CBD drug treatments and the rise in the healthcare sector are other factors driving the growth of the global CBD market…
CBD Consumer Health Market Projected to Grow
Zion Market Research has released a study that projects the CBD Consumer Health market to grow from $10.3 billion in 2021 to $37.6 billion by 2028. Over this forecast period, the market is projected to exhibit a compound annual growth rate (CAGR) of approximately 24.1%. CBD Consumer Health Market: Overview Cannabidiol has grown in popularity…
Cannabis Seeds Market to See Major Growth
Data Bridge Market Research recently released a study that focused on the global cannabis seeds market, which finds that the market was valued at $1.4 billion in 2021 and is expected to reach $5.7 billion by 2029, registering a CAGR of 18.7% during this forecast period. In recent years, cannabis seeds have shown a considerable…
FDA Regulation of CBD Can Impact Market Growth
Brightfield Group released “CBD: FDA Impact & the Path Forward” — its 2022 mid-year U.S. CBD report. It includes forecasts for two scenarios — with and without Food and Drug Administration (FDA) regulation — to help prepare clients for what to expect if FDA guidance delays continue and for changes in the market that would…
CBD Pet Products Market Set to See Growth in the Future
Research and Markets has predicted that the CBD pet products market is due to see significant growth in the coming years, with a predicted CAGR of 12% from the forecast period of 2022-2027. During the COVID-19 pandemic, the market studied did not experience any negative consequences. Instead, the sales increased. As there were no new…
U.S. Cannabis Market Expected to Grow Significantly
Grand View Research reported that the U.S. cannabis market is predicted to reach $40 billion by 2023 due largely to increased legalization of cannabis, which is driving the market growth. The market is expected to expand at a CAGR of 14.9% over the forecast period. According to the report, the medical end-use segment dominated the…
The Potential for Cannabis Sales
With a majority of Americans favoring the legalization of cannabis for both medicinal and recreational use, and with the convenience channel representing the largest number of outlets of any retail class of trade, it would seem rather logical that this channel would have strong potential for the distribution of cannabis. I believe there is current…
CBD Oil Market Set to Grow in North America
TechNavio reports that the CBD oil market is expected to grow in the coming years, with an estimation of a $3.97 billion market value from 2021 to 2026. TechNavio also projects the market to progress at a CAGR of 26.43%, where 38% of the market’s growth will originate from North America during the forecast…
CBD Opportunities for C-Stores
Convenience store operators across the U.S. increasingly are stocking cannabidiol (CBD) products on their shelves. These businesses are tapping into this market to boost revenues and attract canna-curious customers — an effective strategy in the short and medium term as the Food and Drug Administration (FDA) continues to drag its feet on any meaningful regulatory…
MJBiz Announces Schedule for Annual Cannabis Conference
Cannabis business conference MJBizCon is set to take place this year on Nov. 15-18 at the Las Vegas Convention Center. The conference will now be in the South Hall, where it will span two floors, unveiling a new expo floor layout divided into industry sectors including cultivation, processing, packaging and lab services, business services, and…
CBD Trends Evolve in 2022
Brightfield Group released its report “C(BD) of Change: How the US CBD Consumer is Evolving in 2022,” revealing consumer trends and product popularity. According to Brightfield Group’s research, gummies remain the dominant CBD product type used, now in use by a majority of CBD consumers. Average spending per month is down slightly across the industry…
CBD Growth Slowed in 2021
As a result of price compression and the shift to lower price point products, overall growth in the CBD industry slowed in 2021, according to Brightfield Group’s quarter one CBD market industry update. Also, with continued delays in regulation from the FDA, retail expansion remained relatively modest, with concentrated growth seen in emerging channels like…
CBD Skincare Market Growing
Technavio released its latest report, which states that the CBD skincare market value is set to grow by $1.64 billion, progressing at a CAGR of 33% from 2019 to 2024. The market is segmented by type (oils, CMC and MSL), source (hemp and marijuana) and geography (North America, Europe, Asia-Pacific, South America, and the Middle East…
U.S. Cannabis Sales Projected to Surpass $33 Billion by End of 2022
The recently released 2022 MJBiz Factbook projects that retail cannabis sales in the U.S. will surpass $33 billion by the end of 2022 and more than $52 billion by the end of 2026. Produced by the editorial team at MJBiz, owned by Emerald Holding Inc., the MJBiz Factbook has been the most trusted resource for…
Since the Pandemic, Health Concerns Have Driven CBD Sales Growth
A recent report from Global Market Insights details how health concerns and ailments have driven skyrocketing sales of CBD products during the global pandemic and will continue to rise at a brisk pace for the next several years. Although some consumer markets had lower revenues due to the pandemic, CBD sales have increased since…
Charlotte’s Web Reports 2021 Q4, Year-end Financials
Full spectrum hemp extract wellness products maker Denver-based Charlotte’s Web Holdings Inc. last week reported financial results for the fourth quarter and year ended Dec. 31, 2021. “At the beginning of 2022 we took organizational actions, better aligned leadership and employees with shareholder interests, and simplified our business for focus, speed, and executional excellence.…
SEO Expert to Share CBD Advertising Tips at Dallas Convention
At one of the largest CBD conferences of the year, The CBD Expo Tour in Dallas, SEO expert Dominik Hussl will be joining an upcoming panel discussion on CBD advertising. March 31, Hussl will be joining three other panellists in the round table discussion, CBD Advertising: What Claims to Avoid While Promoting Your Products. The…
Consolidation Impacts CBD Market
C-stores are seeing success with cannabidiol (CBD) in 2022, despite overall dollar sales dips around 20%, according to IRI U.S. convenience data for the latest 52 weeks ending Dec. 26, 2021. “What we saw in 2021 was not as explosive of growth in the market compared to years past,” noted Brightfield Group Senior Insights Manager…
Report: CBD Gummies Market to Double by 2028
A recent report by The Insight Partners valued the CBD gummies market at $2.13 B in 2021 and projects it will reach $12.18 B by 2028. The research study, “CBD Gummies Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Category and Distribution Channel,” said the market is expected to grow at a…
CBD Sales Expected to Reach $16 Billion By 2026
According to Financial News Media, Brightfield Group recently released a report on the sales of CBD in the United States that shows sales of CBD reached $4.7 billion in 2021, an increase of 15% over sales in 2020. The pandemic constrained CBD growth, with brands losing revenue from store closures, but a strong e-commerce presence…
Ad Partnership Targets CBD Consumers Wherever They Watch
Programmatic video and Connected TV (CTV) platform Tremor Video and Fyllo, a compliance-first SaaS solutions for highly regulated industries, announced Dec. 9, a partnership enabling advertisers to target cannabis and CBD consumers across all video screens, including programmatic video and CTV. “Partnering with Fyllo reinforces our commitment to delivering innovative data solutions designed to enhance…
Survey Finds Three Out of Four Americans Use CBD Products
Artisanal CBD company Green Element this week published the results of new, original research done in collaboration with research firm Pollfish detailing the continued explosive growth of CBD awareness and usage, particularly among affluent professionals in their 30s and 40s. The data includes findings on CBD use, consumer perception, user demographics and more. “We can…
Pandemic Brings New Opportunities for Cannabis
New data from market research company Brightfield Group confirms 2021 has been a positive year for the cannabis industry, with new U.S. states legalizing the substance, plus other countries across the world considering cannabis reform, from Mexico to Germany. Thanks to the industry’s growth and the effects of the pandemic, Brightfield Group is outlining opportunities…