CBD. Have you heard of it? This incredible cannabinoid produced by industrial hemp and medical cannabis plants is taking the world by storm. It can be found in stores ranging from the beauty salon to the grocery store and pharmacy. According to science and many anecdotal claims it could potentially offer benefits for a wide variety of different ailments and conditions. From inflammation and anxiety to seizures and insomnia as well as everywhere in between people are saying CBD is what they need. It seems that mainstream business, many which are household names, are taking notice to this continuously growing demand from consumers. Let’s take a closer look.

What Analyst Predict

When it comes to the market for CBD here are what the experts are saying and what the stats and figures look like to date. In 2017, hemp-derived cannabidiol (CBD) accounted for 23% of the total global hemp market coming in with a total of $190 million in sales. This number, however, is expected to grow substantially in coming years.

“It is expected that U.S. consumer sales of cannabidiol will reach around 1.8 billion U.S. dollars by 2022.”– Statista.com

There is a significant number of adults utilizing CBD products on a daily basis. In fact, it may be more than what you think.

“Today, nearly 7% of American adults use CBD products. That number is expected to grow to 10% over the next several years.” - Forbes

While 7% may not seem like a lot, when you consider that in 2017 there were an estimated 252 million adults in the US. That means that more than 1.7 million adults in the US are utilizing CBD and these numbers are expected to grow!

Walgreens and CVS

Last year US President Donald Trump passed the 2018 Farm Bill which included a provision legalizing hemp in the United States that contains less than .3% THC. This has opened the doors to substantial growth in the CBD sector. Just earlier this year two major US drug store chains, Walgreens and CVS, announced that they would be offering various CBD products in select stores.

Carl’s Jr.

In April of 2019 the fast food franchise by the name of Carl's Jr. announced that they would be debuting a CBD infused cheeseburger on 4/20. While the burger is only being offered at one location in Denver, the success or lack of that it sees will set the stage for CBD infused fast food offerings. The cheeseburger is formally known as the Rocky Mountain High Cheeseburger Delight and features two beef patties, pepper jack cheese, pickled jalapenos, and a hemp CBD infused Santa Fe sauce for only $4.20.

Top Culinary Trends of 2019

Just recently some of the world's top culinary experts were asked to rank the top culinary trends for 2019. CBD infused foods, and CBD infused beverages were #1 and #2 on their list! Today you can find CBD waters, CBD coffee, CBD energy drinks as well as a plethora of other CBD infused beverages and foods on the market. This is despite the fact that the FDA has not yet approved CBD to be added to ingestible products.

Big Names Investing in Cannabis Beverages

This year the very first Cannabis Drinks Expo is being held by the Beverage Trade Network. It is estimated that the market for cannabis beverages was worth $89 million in 2018. Some analysts predict that sales of cannabis beverages could reach $1.4 billion annually by 2023. Last year big names like Constellation Brands (parent company of Corona) and AB InBev, the owner of Budweiser invested big money into cannabis related beverage research and ventures. Constellation made a $4 billion investment in Canopy Growth while AB InBev invested $50 million in Tilray for research of nonalcoholic beverage options containing CBD and THC according to Forbes.

What the FDA Has to Say Could Affect the Market in a Major Way

As you can see, CBD is going mainstream. This can be seen clearly when you look at all the household names that are venturing into the market. CBD is a compound that could provide for endless potential in the coming years when it comes to the products it can be infused in to. Next month, the Food and Drug Administration in the United States will be having a hearing to discuss the regulation of CBD being added to food and beverage products. The decision that is made however could drastically affect this burgeoning market. Do you utilize CBD on a regular basis? Let us know about your experiences below and what you think about CBD going mainstream!