There’s no disputing that cannabidiol Opens a New Window. (CBD), the non-psychoactive cannabinoid, is everywhere right now – in your toothpaste, hair products and even infused in your coffee. You can buy many CBD products in drugstores Opens a New Window. across the country and the Transportation Security Administration (TSA) even changed its rules this week to allow passengers to bring some CBD oil on airplanes.
It’s not just popular or trendy though, it’s lucrative too. According to the Brightfield Group’s annual report on the cannabis industry, the CBD market was worth $591 million in 2018. It is expected to reach $1.2 billion in 2019. (In 2017, the CBD market was at just $367 million, it saw a $224 million increase in just one year.)
This growth comes as less of a surprise in 2019 as the U.S. Agriculture Improvement Act of 2018 (also known as the 2018 Farm Bill Opens a New Window. ) legalized industrial hemp. Since then, certainly CBD is making an impact on the economy, as well as within the cannabis industry.