CBD Industry

The industry around products containing CBD rather than THC is gaining popularity around the globe. CBD products include: tinctures, vape, capsules, creams, facial and skin care , shampoo, food, energy drinks and more. Cannabinoids are being prescribed for the treatment and prevention of serious diseases such as epilepsy, depression, Parkinson’s disease. Nearly ¼ of CBD consumers spend an average of $21 to $50 on CBD products every month. In 2017, the medical and recreational cannabis market in Canada was valued at C$5.7 billion, with and average of $1200 spent by each individual annually. According to Brightfiled Group’s data, the global CBD market was $5.7 billion in 2019, and raise to $18.1 billion by 2021.