The much-hyped CBD market in the U.S. may reach $16 billion by 2025

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Nearly seven per cent of Americans are already using cannabidiol (CBD), placing the potential market opportunity for the much-hyped cannabis compound at US$16 billion by 2025, according to a new analysis by Cowen & Co.

Cowen’s January consumer survey of approximately 2,500 adults found 6.9 per cent of respondents use CBD as a supplement. “This initial response piqued our interest considerably, as it was much higher than we would have suspected,” and compared to 4.2 per cent who reported use of Juul Labs Inc.’s e-cigarette devices and 19.6 per cent who consider themselves current tobacco users, analyst Vivien Azer said in a note.

Based on this surprising level of consumer awareness, Cowen “conservatively” sees CBD use growing to 10 per cent of U.S. adults or 25 million consumers by 2025, implying a US$16 billion market opportunity, Azer said.

https://business.financialpost.com/cannabis/the-much-hyped-cbd-market-in-the-u-s-may-reach-16-billion-by-2025

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