close
Business

CBD market could reach 16 billion by 2025

PHOTOGRAPHER: MATTHEW STAVER / BLOOMBERG
Blog-Cannabis

The CBD market could explode and outpace that of the THC

According to a new analysis by Cowen & Co, an independent US-based multinational investment bank and financial services firm, nearly 7% of Americans already consume cannabidiol (CBD), raising the potential market to 16 billion. from CBD by 2025.

Cowen's January consumer survey of approximately 2500 adults revealed that 6,9% of respondents use CBD as a natural supplement. "This initial response greatly piqued our interest because it was much higher than we would have suspected. Cowen said the use of CBD would reach 10 at 25 million adults in the US by 2025.

10% of US adults

On this basis of consumer awareness, Cowen sees "conservatively" the use of the 10% increase in CBD in US adults, or 25 million consumers by 2025, representing a market of 16 billion dollars, said Mr Azer.

Read also
Opening of the first cannabis store in Italy

Although CBD is presented as an effective treatment for everything from arthritis to insomnia, the only clinically proven cure is the treatment of two rare forms of childhood epilepsy.

The American Farm Bill, adopted in December, makes hemp derived from hemp legal in certain circumstances. But the Food and Drug Administration has stated that it is illegal to market CBD-based products as dietary supplements, and that any CBD-based product marketed as having therapeutic benefits must be approved for its intended use prior to its release. introduction into commerce.

Regulators have taken strong action against CBD products in some jurisdictions. Earlier this month, health authorities in New York City ordered bakeries and restaurants to stop adding it to food and beverages, while Maine and Ohio also reduced sales of the compound .

The Cowen survey found that the use of CBD is highest among older consumers from 18 to 34 years old. Dyes (liquid extracts) accounted for most of the market with 44%, followed by topical products with 26%, capsules with 22% and drinks with 19%.

Read also
Marijuana in Washington, a billionaire company

Even more in Canada

According to estimates of analysts du Brightfield Group , the hemp-CBD market alone could reach 22 billion by 2022.

The growth of CBD in Canada is faster than that of cannabis in the United States and will soon be a $ 22 billion industry. The Brightfield Group details category growth rates, major brands, product innovations by segment, clinical trials and the regulatory environment.

While consumers are leaving pharmaceutical companies behind and looking for natural remedies, CBD seems to be the drug of the future. "Without the inconvenience of being smashed."

source: Bloomberg

Tags : BusinessHempConsumptionsurvey