How Big is the Hemp CBD Market?
The Farm Bill allowed for a huge explosion in this area. From the start of its federal legalization in 2018 to the end of 2019, CBD sales generated over $4 billion in revenue. At the end of 2020, the hemp market brought in $4.7 billion in the U.S. alone. Even though the COVID-19 pandemic threw a curveball at the industry, many brands met the challenge and saw a rise in CBD sales online. E-commerce garnered the highest share of distribution during 2020 at 38%, followed by pharmacies, CBD specialty retailers, and natural food stores. It is no surprise to see that CBD is expected to grow to $16 billion by 2025. Per Brightfield Group https://blog.brightfieldgroup.com/hemp-cbd-market-size.
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