CBD Product Manufacturing in the US - Industry Market Research Report

CBD Product Manufacturing in the US - Industry Market Research Report

CBD Product Manufacturing in the US

In 2018, CBD products became legal at the federal level. Prior to this, CBD products were illegal at the federal level but legal in many states and with increased frequency. As a result, many areas had a framework in place, so robust growth followed. Still, with states increasingly legalizing CBD products prior to the federal legalization, explosive growth had been ongoing. As the pandemic hit, consumers reduced spending, and CBD producers contended with possibilities of a saturated market. More likely, the industry is normalizing, indicated by relatively slower growth in recent years. Over the past five years, revenue has been growing at a CAGR of 19.9% and is estimated to reach $1.3 billion in 2023 when revenue growth will slow to 0.7%.

Companies in this industry use hemp to produce cannabidiol (CBD) oil, which is used to create supplements, foods and concentrates.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."