Despite this year’s challenges and stock market crash in March, the CBD market continues to look very promising for the rest of the year. It is expected that consumers will continue purchasing CBD and that production will increase. According to the Hemp Business Journal, “more than 3 in 5 Americans believe CBD has valid medical uses” indicating that it is very popular and valued by the market. The data analysis and trends for the industry expect consumers’ access to CBD products for therapeutic use to increase, which means sales will continue to grow.
With these trends in mind, it is estimated that over 73 million Americans will purchase CBD before the end of this year. This is a huge amount, especially considering how severely the country’s market was impacted due to Covid-19. Despite these challenges, CBD consumers hold a high value for the products and depend on CBD for their daily use, allowing the market to continue growth even during these times of uncertainty.
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