The Future of CBD Oil, Business and Industry Trends Analysis

The future of the CBD market in the U.S. looks promising even if hurdles exist along the production chain.  A 2019 Gallup poll indicated that 14% of Americans use CBD products, with the highest usage amongst 18-29-year-olds.  Brightfield Group reported that 2019 sales of CBD products rose 562% over 2018, reaching more than $4 billion.  For 2020, the group forecasted that sales would reach $4.7 billion.  In addition to human consumption, CBD products are also popular with pet owners for a number of pet ailments, as many people think it is not only calming but also relieves pain and inflammation. …

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