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The Lineup At A Glance
Before you start shopping around, you may want to take a moment to confirm that it is completely legal to buy CBD in your state. Hemp-derived CBD products are legal and fairly easy to find in local stores. Products derived from the cannabis plant (marijuana), however, may be illegal or require a prescription because THC is still considered a controlled substance by the U.S. Food and Drug Administration (FDA).
According to estimates from the Brightfield Group, CBD sales — CBD being the nonpsychoactive cannabinoid best known for its perceived medical benefits — are expected to soar from $591 million globally in 2018 to $22 billion worldwide by 2022. For those of you scoring at home, that’s a 147% compound annual growth rate.
A fifth major wellness retailer where a consumer can pick up CBD products is GNC Holdings. GNC recently began selling a variety of CBD-infused topical creams of varying strengths. Known for supplying everything from performance supplements to health and beauty products, GNC’s entrance into the CBD space was a logical move designed to appeal to the full spectrum of its customer base.
Cannabidiol sales could tally $22 billion by 2022, and these brand-name companies want their piece of the pie.
In addition to brand-name health and wellness retailers, four major apparel, accessory, and general retailers are now offering CBD products for sale.
Image source: Getty Images.
The marijuana industry is on fire, and Wall Street has certainly taken notice. Over the past couple of years, pot stocks have run circles around the broad-based S&P 500 in terms of total return, which isn’t hard to believe considering that Wall Street estimates call for a quintupling, at minimum, in worldwide cannabis sales through 2029.