Nielsen: U.S. CBD Market to Boom in 2020 and Beyond
As reported by Supermarket Perimeter, Nielsen has projected that the U.S. hemp-based CBD market could grow to between $2.25 billion and $2.75 billion in 2020. The article quotes Rich Maturo, VP of Cannabis Practice for Nielson, as saying the hemp-based CBD market could be a “game-changer” for the consumer product goods and retail industries in the coming decade.
Nielsen predicts significant growth in users of CBD capsules, gummies, and beverages in the coming years. CBD products are being recommended by physicians more and more, and Nielsen says they could be offered as over-the-counter remedies for arthritis, pain, and sleep aids. Nielsen also predicts the price of CBD products will drop in the coming years, making them more accessible.