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CBD Market Could Reach $20 Billion By 2024, Says New Study

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A new study says the CBD market could reach $20 billion by 2024

made by New York-based investment bank Cowen & Co, which estimated that the market could pull in $15 billion by 2025.

The new forecast takes into account products sold through licensed dispensaries, pharmaceuticals and in general market retail, which includes cafes, smoke shops, grocery stores and pharmacies. However, BDS Analytics predicts that the majority of CBD product sales will soon occur in general retail stores instead of cannabis dispensaries.

66 percent of hemp-derived CBD consumers in the U.S. agree with full federal legalization of cannabis, with 90 percent believing that marijuana has medical benefits; and

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