Cannabidiol (CBD) – a direct derivative of the hemp plant – is the essential component of medical marijuana, and though it was first discovered in 1940, it’s acceptance as a non-psychoactive wellness-enhancing substance and subsequent popularity only started around 10 years ago.
Today the CBD market is burgeoning, slated to grow from $5 billion in 2019 to $23.7 billion in 2023! It’s used as an ingredient in products ranging from beverages to beauty care, cooking ingredients to chocolates and candy. Moreover, the formulation breakthrough of water-soluble CBD will catalyze the market even further, as highlighted in this infographic.
Water-Soluble CBD: A Game Changer for Consumer Packaged Goods
Infographic by – Trait