Hemp-derived cannabidiol (CBD) products are growing in popularity among consumers, a new survey by Brightfield Group and HelloMD reveals. Women are more likely to purchase CBD than men and shortly after they start using it, most of them never go back to traditional medicine.
Cannabidiol (CBD) is a non-psychoactive compound of the cannabis plant that doesn’t get you stoned as it contains less than 0.3% THC. It is used for his multiple health benefits and has a positive effect on treating insomnia, depression, anxiety, joint pain and other conditions.
The demand for cannabidiol is expected to grow further as more people switch to cannabis products for pain relief. About 42% of CBD users admit that they have stopped taking pills and prescription drugs after using hemp-derived products.
The CBD sales amounted to $170 million in 2016 and according to estimates by The Hemp Business Journal, the market will grow to $2.1 billion in consumer sales in three years, with $450 million of those coming from hemp-based sources.