The global marketplace for CBD has reached around $10 billion – approximately doubling from the $4.6 billion market size in 2022. In these two years, we have seen extraordinary growth as many smaller and large sellers entered the marketplace, and consumer demand went from strength to strength.
The CBD sales revenue in the US has hit around $1.5 billion, which again, is over double compared to 2022's data. Whilst the USA is a power of the trend, there's lots of factors at play.
Firstly, to purchase CBD today in many around the globe, it's as easy as heading over to https://www.miistercbd.com/en/buy-cbd/ as well as other website. It was illegal to complete in Australia, UK, USA and lots of other countries not too long ago. Due to this recent legalization, the marketplace continues to be in its infancy after being oppressed for so long.
The second reason many will buy CBD in the united states, for instance, happens because they're now aware of the many health benefits. 10 years ago, some people knew about some benefits that cannabis holds, however it was illegal. Today, they're given a far more benign version that does not get you high, and it is legal, and it has countless benefits they didn't know about.
There are now more europe where CBD is legal than where it is illegal. Again, most States in the US it is legal (Idaho, Nebraska, South Dekota, and Georgia being the exception). South America, CBD is very much still illegal virtually everywhere – however, many speculate that it’s merely a matter of time before slowly starts to change.
Because from the increase in legality, it made research quicker to do in america. This growth in research has led to most of the major health benefit claims becoming backed up by evidence. For example, CBD has helped many with chronic pain struggling with obscure illnesses, as well as epileptic patients who suffer from seizures.
These have been miracle cures, however the demand doesn't reflect just these sales. It's the more day-to-day benefits which are causing this wave of demand, for example helping with anxiety, depression, acne, arthritis, and being useful for cancer patients. That's a far reaching range of issues that many people are afflicted by (at least one of them).
Yet, many have never heard about CBD since it is still in the infancy, that is a very good argument for speculating its future growth trajectory to carry on. Not to mention that the hemp is also being increasingly used being an environmentally friendly alternative.
Between the growing legality, development of the hemp and cannabis industry in other locations, and increased scientific focus within research, you will find good arguments for CBD-related investments and also the industry more generally. South usa will be a fascinating continent because there appears to be a lot room for legal and thus business growth, but nobody could predict the period of time with this. Europe and the US, on the other hand, are mainly there.