GGBXF - The Retail Market Will Make Up More Than 60% of CBD Sales in the U.S. by 2024
A lot of the hype surrounding marijuana is about the adult-use market and products that are high in tetrahydrocannabinol (THC). But cannabidiol (CBD) keeps growing in popularity, and as more studies come out about what it has the potential to treat, the possibilities for that market segment continue to expand. The latest estimates from Arcview Market Research and BDS Analytics have the total CBD market in the U.S. reaching $20 billion by 2024.
What might surprise investors is how that market is expected to be split. Pharmacy sales are forecast to make up only $2.2 billion of that total, while dispensary sales are projected to be $5.3 billion. The bulk of CBD sales is expected to come from general retail -- a total of $12.6 billion.
One of the assumptions in that growth figure is that CBD becomes accepted as a food additive or supplement -- presuming that issues with the Food and Drug Administration are resolved.