CBD Market Growth Larger Than Expected Multi-billion Dollar Industry

PALM BEACH, Florida, May 21, 2019 /PRNewswire/ -- A recent industry report on the future of the CBD market, had higher than expected revenue figures than expected. An article in FORBES discussed this report saying: "Recently, New York-based investment bank Cowen & Co. released a study on the CBD (cannabidiol) market. Of the findings, one of the most intriguing was that nearly 7 percent of the 2,500 polled, said they had used CBD, an active ingredient in marijuana that purportedly provides relief to patients without getting them high, as a supplement. This figure was far higher than what the Cowen analysts had expected.  Yet even more fascinating was the projected estimate Cowen analysts made about the revenue of this market--$16 billion by 2025. This number is a marked jump from the estimated retail sales of CBD consumer products in 2018 that ranged between $600 million and $2 billion. Although CBD is technically legal as a result of the Farm Bill that passed late last year, the legal marijuana economy is still fragmented as a result of the federal illegality." Active Companies from around the market with current developments this week include:  Marijuana Company of America, Inc. (OTC: MCOA), Medical Marijuana, Inc. (OTC: MJNA), Kona Gold Solutions, Inc. (OTC: KGKG), CV Sciences, Inc. (OTC: CVSI), PotNetwork Holdings, Inc. (OTC: POTN).

The article continued: "Cowen's Vivien Azer, the first senior Wall Street analyst to cover the nascent cannabis industry, said pragmatism informed the firm's revenue projections of the CBD market. "We try to build some conservatism for some regulatory headwind," she explained.  In addition to the study's conclusion that nearly 7 percent of respondents had used CBD—Azer said she didn't realize that many people tried or used a CBD product—she was surprised by yet another finding: Close to 20 percent of those surveyed said they had sampled a CBD product in beverage form. Interestingly, the study skewed toward the younger generation.  The rate of usage for those under 35 was over 9 percent while for those in the 45-55 age bracket, it was 6.4 percent. For people ages 55 and above, the number was 3.7 percent."