According to a new report by market research firm Brightfield Group, the U.S. hemp-derived CBD market is expected to reach $4.7 billion in retail sales in 2021, an increase of 2.5% from 2020 sales of $4.6 billion.
Sales are expected to reach $12.0 billion by 2026, driven by accelerated growth of ingestibles like drinks (40% CAGR), as well as larger mainstream distribution channels, like grocery (31% CAGR).
In 2021, online sales will surpass $1.8 billion, accounting for nearly 39% of the total market, as Americans continue to turn to online shopping during the pandemic.
The top five CBD companies are unchanged as compared to Q2, with Charlotte’s Web and Your CBD Store (SunMed) in the top two spots.
Companies new to the top 20 in Q3 include Kadenwood and HempFusion, both bolstered by significant acquisitions including Social CBD (Kadenwood) and Sagely Naturals/Apothecanna (HempFusion).
Quarter-over-quarter, the top 20 CBD companies saw their share of market grow following increased consolidation and M&A activity.