Total cannabidiol (CBD) sales in the United States are expected to be $1.9 billion in 2022, with hemp-derived CBD products making up $646 million, marijuana-derived CBD selling $626 million and pharmaceuticals taking the rest at $647 million, according to the Hemp Business Journal. These numbers were presented by Stuart Tomc, vice president of human nutrition, CV Sciences, at the annual Council for Responsible Nutrition (CRN) conference in mid-October 2018. Tomc used these numbers to show the high number of CBD product sales, but also to note that the market splits into three categories: hemp-derived, marijuana-derived and pharmaceuticals. In this podcast with Sandy Almendarez, editor in chief, INSIDER, Tomc, covers:
- Why the difference in CBD source is important to overcome legal hurdles;
- The safety of CBD and why his company invested in self-GRAS (generally recognized safe) status for its CBD oil; and
- Which consumers are taking CBD and where they are buying these products.
Links and resources:
- Tomc is speaking at the SupplySide West Workshop, “CBD and Hemp Extracts: How Do We Move Forward?” on Wednesday, Nov. 7 at 1:30 to 4:30 p.m.
- This podcast was recording following a presentation Tomc gave on CBD at the annual Council for Responsible Nutrition (CRN) conference. CRN’s 2018 conference was held in Dana Point, California.