Ever since news of the capabilities of cannabidiol (CBD) traveled from academia to the public, the plant extract has surged into mainstream use and wellness popularity.
After years of underground CBD sales and several clinical studies on its growing list of positive effects, the Agriculture Improvement Act of 2018, also known as the Farm Bill, was passed. This legalized the industrial cultivation and sale of hemp – consequently legalizing its derivatives, including CBD – and opened the floodgates for everything cannabidiol. Since then, the growth of the market has been so staggering that the industry is shaping up to be worth over $5 billion by the end of 2019, a 706% growth from 2018. Moreover, according to Brightfield Group’s 2019 report, the total U.S. CBD Market would reach $23.7 billion by 2023.
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Source: https://www.forbes.com/
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