Industry analyst BDS Analytics has made a prediction regarding the U.S. CBD market. They state that by 2024 the CBD market in the US will reach $20 billion in sales. In 2018 the sales were $1.9 billion in 2018. The market has shown a dramatic annual growth rate of 49% thus proving that the society has gotten open minded about CBD and accepting it in their lives.
CBD gives pain relief, manages stress, provides better sleep and is used to relax and calm down by anxious people. They are now being sold at gas stations, restaurants, and local CVS stores. In 2020, the CBD market has seen an increase in the potency of its products. There are more brick-and-mortar CBD shops, pharmaceutical CBD products, and overall access to CBD products online through CBD websites has improved. 60 percent of the CBD sales happen online.
New products are added to the shops from time to time. A wide range of products from CBD edibles, vapes, capsules and pills can be sold by the new shops. Currently the most popular type of CBD on the market are products like the sublingual tincture which is a CBD oil ingested using a dropper from a small bottle. The oil is placed under the tongue and then allowed to absorb.
Various CBD edibles that include baked goods, candies and foods have hit the market. These have led to an increase in the listing of cannabis businesses for sale. They are regularly scrutinized by the U.S. Food and Drug Administration (FDA). Other popular products include the gels, creams and sprays for aches and pains that are placed on the skin so that it targets the localized region of the body directly. People who have seizures or digestive problems intake CBD capsules or pills. Even animals are given the CBD products in small amounts to calm them.