CBD Market Projected To Exceed $20+ Billion By 2024, Beating Prior Forecasts
Even researchers can’t keep up with the growth of the CBD market in the U.S. Cowen & Co. had projected this fast-moving market at $15 billion by 2025. Now a study by BDS Analytics and Arcview Research finds it will be $20+ billion by 2024. A key difference: the $20+ billion finding reports that CBD will find itself on general retail shelves — as it reaches mainstream society. Either way, both studies show a CAGR growth rate in double digits — quick growth for CBD products, no matter who projects it.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB) and OrganiGram Holdings Inc. (NASDAQ: OGI).
CBD Market Projected To Exceed $20+ Billion By 2024, Beating Prior Forecasts
The $20+ billion forecast through 2024 takes into account the mainstreaming growth of CBD products into grocery stores, pharmacies, smoke shops and other retailers. Like a dog trying to catch his tail, the forecast is having problems keeping up with the expansion of CBD into fine department stores and onto mass merchant shelves rather than dispensaries and CBD stores alone. Still, the newer study says a 49% CAGR growth rate will drive sales of CBD and hemp-derived products to $20+ billion by 2024. It was seen at $1.9 billion in 2018, the study shows.
CBD Unlimited, Inc. (OTC PINK: EDXC) Sees CBD Retail Growth
CBD Unlimited, Inc. (OTC PINK: EDXC) in an omni-channel marketing strategy knows first hand how much hemp-sourced CBD is expanding at retail. Last year, it exceeded its goal of placement on shelves of more than 5,000 mass market stores. It also sells in pharmacies, bodegas, convenience stores and even self-service kiosks. In 2019, CBD Unlimited, Inc. (OTC PINK: EDXC) recorded sales representing a 101% annual increase in revenues. Now the company remains on track to continue its upward growth trajectory and surpass year-over-year guidance and goals. CBD market projected to exceed $20+ billion by 2024, beating prior forecasts.
CBD Unlimited, Inc. (OTC PINK: EDXC) Acquires Kush, Inc.
Earlier this week, CBD Unlimited, Inc. (OTC PINK: EDXC) announced its acquisition of Kush, Inc. with which it will expand its product range to the consumer, according to Todd Davis, CEO and chairman of CBD Unlimited, Inc. (OTC PINK: EDXC). The firm exhibited its commitment to add Kushwear clothing brands and expand. Charlie Mohr, Kush president and founder, will join CBD Unlimited, Inc. (OTC PINK: EDXC) full time in the new wholly-owned subsidiary. CBD market projected to exceed $20+ billion by 2024, beating prior forecasts.
Todd Davis, CEO and chairman of CBD Unlimited, Inc. (OTC PINK: EDXC), said, “Acquiring Kush, Inc., will support CBD Unlimited’s growth strategy as we develop into new markets. We look forward to extending our product pipeline to sustainable alternatives and clothing brands under the Kushwear name. We plan to remain innovative for our customers as the Company expands its network, now with the addition of Charlie Mohr joining the team and providing his unmatched proficiency in this space.”
He said that CBD Unlimited, Inc. (OTC PINK: EDXC) will work closely with the Kush, Inc., research and development team to expand its range of products in the future.
CBD Unlimited, Inc. (OTC PINK: EDXC), based in Cave Creek, Arizona, says it has seen a global interest in transitioning to natural products. Kush, Inc., owns Kushwear.net and supports labels known for manufacturing, selling and distributing hemp-derived material and other bio-products that are sustainable.
CBD Unlimited’s (OTC PINK: EDXC) Products Include Oils, Capsules, Topicals and Pet Products
CBD Unlimited (OTC PINK: EDXC) develops and distributes all-natural CBD products derived from hemp and markets oils, capsules, topical and pet products. Phyto-Bites are soft chews for animal use designed to reduce inflammation, pain and separation-anxiety. It also has CBD products formulated for humans. It pays careful attention to quality: its hemp-sourced product has premium genetics and superior quality. The extracts in its products are rich in phyto-cannabinoids and terpenoids that are non-psychoactive, the company’s Corporate Presentation says.
CBD product quality is ensured by CBD Unlimited, Inc.’s (OTC PINK: EDXC) strategy of seed-to-shelf marketing. This focus ensures that its CBD product is monitored every step of the way. Kush, Inc., is a branding and development company that builds brands through strategic marketing and relationships. It specializes in branding and acquisition opportunities in the sustainability and holistic health-related arenas.
Source: Stock Market Press
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