Nielsen: CBD Market to Reach at least $2.25B in the US
Analytical firm Nielsen predicts that the US CBD products market will reach $2.25-$2.75 billion in 2020.
The vice-president of cannabis practice for New York-based Nielsen has shared that CBD market can become “a game-changer” for consumer products industry.
Edible and drinkable CBD products can grow almost 400% in the US, if FDA approves them as Generally Recognised As Safe category, reads Nielsen report. The biggest potential, according to Nielsen, lies in beverages like energy drinks, coffee and tea, sports drinks, and functional water.
According to Nielsen, the demand for CBD health care products could also grow with educating health care practitioners. Earlier Forbes also has published a report that predicted CBD fitness products market potential to exceed $100 billion worldwide.
On the supply side, Nielsen analysts predict that the demand rise will be caused by the decrease in prices due to the growth of production efficiencies. As Future Time previously reported, Carl Silverberg, senior VP from industrial computer vision company iUNU, shared that there is huge opportunity for optimisation in CBD industry, using robotic solutions.
In the meantime, at least four class-action lawsuits against CBD manufacturers in the US, with potentially devastating effect on the nascent industry, are waiting to be resolved: customers complain that the companies engaged in “misleading” marketing, selling CBD products as dietary supplements, and demand the profits to be returned.