CBD Sales Expected To Reach $1 Billion By 2020 Despite Regulatory Hurdles Says CBDReVu.com
Industry: Health & Fitness
New Brunswick, NJ (PRUnderground) September 5th, 2017
CBD or cannabidiol sales are projected to reach $1 billion by year 2020 according to a number of industry observers, according to CBDReVu.com, a leading international review site for CBD based products, see here https://cbdrevu.com/
The market for CBD products is booming with companies announcing new products and new brands frequently. Most all of the most popular brands are reviewed on CBDReVu.com. Some of the brands currently reviewed are Elixinol, Endoca CBD, Charlottes’ Web from CW Hemp, CBDPure and others. CBDReVu is frequently updated to include more reviews of hemp-based CBD products as interested consumers shop for the best pure CBD oil products available.
The booming CBD market is expected to grow into a $ 1 billion market by 2020 by many industry observers, evidenced by the current explosive growth rates. In 2016 cannabidiol sales reached $170 million and at the current growth rate it would not be out of the question to see the market reach the billion-dollar threshold in the next 3 or 4 years.
According to many industry leaders, CBD made from hemp must contain less than 0.3% THC, the psychoactive ingredient in cannabis, in order to be legal but there are differences of opinion as to what is and what isn’t legal in the murky, confused arena of CBD. However, CBD products made from cannabis with levels of THC in excess of 0.3% are certainly illegal except in certain states that have legalized marijuana. So, the low THC (less than 0.3%) or zero THC CBD products are the much larger market drivers at this point in time as most companies are shipping their low or zero THC CBD products across the country.
The market growth is incredibly strong despite a number of challenges for CBD companies including the issue of credit card processing merchant accounts and the lack of normal outlet for selling products. At this time CBD products are not sold on Amazon, EBay or in Whole Foods. And from time to time some CBD companies lose their ability to accept credit card payments as a result of the very confused regulatory environment and uncertainty in the banking community. One recent popular company that has experienced credit card merchant account problems is Bluebird Botanicals CBD, which has been without the ability to accept credits cards since July 12 2017. These are significant challenges for small companies especially considering most sales of CBD products take place online. Yet despite these major challenges, much of this niche industry is thriving and growing rapidly.
In addition to the robust market for low or no-THC CBD products, there is also a growing micro-niche market for CBD oil and marijuana related domain names. More can be read about this on CBDREVu.com. Most top level domain names were scooped up by domain name speculators over the prior years and an interesting aftermarket has now emerged. CBDReVu has a page listing a number of very high-level domains being offered in the aftermarket. Also, some CBD companies are now offering CBD affiliate programs to website owners and bloggers who are interested in a new way to help monetize their online projects. The popular SuccessWerx.com now has a section devoted to CBD affiliate programs and recently added reviews of some of the popular programs including the CBDPure affiliate program as well as others.
About CBDReVu.com
CBDReVu.com is based in New Brunswick, New Jersey, USA and writes about CBD products.
