Exploding sales with 333% progress in 2018
Un investigation report reports that CBD sales have jumped in the herbal supplement category in the United States. Unknown until a few years ago, CBD rose to the 12th best-selling herbal dietary supplement in 2017, with growth of 303% over the previous year. Between 2017 and 2018, CBD topped those numbers, topping the top-selling supplement list and dethroning turmeric from the top spot it had held for five consecutive years. In other words, the report shows that CBD sales are skyrocketing and disrupting long-standing trends in the herbal supplements industry, which has a turnover of $ 8,8 billion. .
In the United States, recent changes in federal and state law have made CBD more accessible. And as knowledge and awareness of the benefits of cannabis increases, interest in CBD products increases.
In 2018, sales jumped 333%, generating $ 52708488 in sales. It is important to note that these numbers represent the performance of CBD in the sole category of health food and natural food sales. In other words, they do not include sales in retail cannabis stores or regular grocery stores and drugstores.
In the category of natural food and health food sales, CBD now reigns supreme. It is not only the best selling ingredient but also the fastest growing one. And for the first time since 2013, turmeric no longer occupies the number one place of the best-selling natural herbal supplements. Sales of turmeric, often considered the most effective nutritional supplement, only increased 0,4% in 2018.
CBD sales boom, but hemp products fall
Despite CBD's historic performance in the natural product category, cannabidiol products have yet to rank in the top 40 in the mainstream grocery and drugstore category. This is mainly due to the fact that a complex regulatory landscape of changing federal and state laws has deterred large retail chains from offering CBD products. Despite the federal legalization of hemp, for example, the FDA still does not consider CBD a legal dietary supplement. There are, however, a few notable exceptions. CVS, Walgreens, and Rite-Aid have all rolled out certain products containing CBD at a handful of their branches in the United States.
While CBD sales show no signs of slowing down, federal hemp legalization has yet to produce a similar increase in its sales. In fact, sales of hemp products fell 9,9% in 2018, according to the SPINS report. These are products like hemp seed oils with negligible amounts of CBD that are marketed for their omega-3, protein, and fiber content. Market analysts are not sure what explains the nearly 10% drop in sales of hemp products against a backdrop of more than 300% increase in sales of CBD products.