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Home 🌿 Medical Cannabis News 🌿 Cannabis Medicinals Sales Expected to Reach $2 Billion by 2020 🌿

Cannabis Medicinals Sales Expected to Reach $2 Billion by 2020

Submitted by Marijuana News on Wed, 11/16/2016 - 08:45

Legalization of medical marijuana in more than half the states has created a booming market for medicinal and personal care products.

A new report shows sales of cannabis-based medicinal and personal care products containing cannabidiol (CBD) are likely to skyrocket in the next four years.

The market for CBD products will reach $2.1 billion in sales by 2020, according to projections from “The CDB Report” from the Hemp Business Journal. That’s a huge leap from the estimated $115 million in CDB sales expected in 2016, making CBD among the fastest growing segments of the legal marijuana and hemp industries.

The report, based on interviews and insights from dozens of experts in the hemp, CBD and marijuana industries, projects a robust future for the CBD industry. Hemp Business Journal did the report in partnership with SPINS and BDS Analytics, two firms that specialize in consumer data.

CBD a distinct market from...

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