CBD In The News

The global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.[1]  With such demand, there is a lot of news about CBD legislation, new products, research and more. We’re sharing just some of the things that are going on in the CBD marketplace today.

National Cancer Research Institute Endorses Study On Cannabinoids And Cancer-Related Pain

The National Cancer Research Institute (NCRI) has given an endorsement to CBD Science Group, who provides research, education and consulting services to the cannabis and hemp industries, regarding the company’s Real World Evidence (RWE) study into the role cannabinoids can play in treating cancer-related pain. The study could give hope to cancer patients for whom the treatment and management of cancer pain continues to be a burden to them and their families. Read more

CBD and Sleep Research

Scientists at Southern Cross University in Australia are conducting a large clinical trial to determine the effectiveness of over-the-counter botanical CBD products to treat sleep disturbances in healthy subjects. Study participants will include those with self-reported poor sleep, including problems related to starting and maintaining sleep or those who wake up earlier than preferred. The study aims to enlist over 400 participants in Lismore, Brisbane, Sydney and Melbourne.  Read more

 

California Bill Would Legitimize Hemp Retail Products

AB 45, a California bill looking to “explicitly permit the retail sale of hemp-derived extracts such as CBD in California” that currently making its way through the state’s legislature, has been updated to remove a ban on smokable hemp. Smokable hemp products will now be phased into the market while also allowing manufacturers to immediately create them. Overall, AB 45 proposes to amend, add to, and/or repeal roughly a dozen sections of the Health and Safety code relating to industrial hemp. Read more

Pandemic pet boom drives CBD animal sector to new highs

The market for companion-animal CBD products is taking off. Manufacturers attribute the boom to COVID-19 shutdowns and the increased availability of pet CBD products. Last year market analytics firm NielsenIQ, which tracks sales of hemp-derived CBD products, projected pet CBD products would grow from $175 million to $225 million by 2024. Now Nielsen projects sales at roughly $300 million this year and about $500 million by 2025.  Read more

CBD Bakery Opens in Milwaukee

A bakery just opened in Milwaukee to sell a variety of macaron flavors, brownies, cookies and dog treats — all infused with CBD. Those living in Wisconsin can order the goods through Sweetly Baked’s website. The bakery also will sell its goods from a window once or twice a week.  Read more

 

[1] Cannabidiol Market Size, Share & Trends Analysis Report By Source Type (Hemp, Marijuana), By Distribution Channel (B2B, B2C), By End-use (Medical, Personal Use), By Region, And Segment Forecasts, 2021 – 2028,” Grand View Research, February 2021. https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market