CBD growth shows no signs of slowing. Retailers like Sephora, CVS, Kroger, Wegman’s, and Vitamin Shoppe are stocking shelves with it. U.S. approval ratings are increasing. In fact, a Gallup poll shows support at a new high of 68% from 66% year over year.
“The latest data are from a Sept. 30-Oct. 15 poll, conducted before the election that saw marijuana legalization proposals on the ballot in several states. Voters in all of these states — Arizona, Montana, New Jersey, and South Dakota — authorized the legal use of recreational marijuana in the Nov. 3 election. They join 11 other states and the District of Columbia in legalizing pot for recreational purposes.”
Over the next five years, analysts at Nielsen say CBD products could generate $6.9 billion over the next five years. Globally, Global Insights analysts say the market could generate $89 billion over that time. However, that’s just a small part of the story. With a new Administration heading to the White House, coupled with Democrats in control of Congress, there’s a higher likelihood of broad cannabis legalization.