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Recently, New York-based investment bank Cowen & Co. released a study on the CBD (cannabidiol) market. Of the findings, one of the most intriguing was that nearly 7 percent of the 2,500 polled, said they had used CBD, an active ingredient in marijuana that purportedly provides relief to patients without getting them high, as a supplement. This figure was far higher than what the Cowen analysts had expected.
Yet even more fascinating was the projected estimate Cowen analysts made about the revenue of this market--$16 billion by 2025. This number is a marked jump from the estimated retail sales of CBD consumer products in 2018 that ranged between $600 million and $2 billion.
RELATED: Brightfield Group Predicts Hemp-Derived CBD Market to Hit $22 Billion by 2022
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