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Because CBD currently operates on the boundaries of legality, it's tricky to figure out how big the industry is and how much bigger it could get. Brightfield pegs the market for hemp-derived CBD products at about $591 million in 2018, growing to $22 billion by 2022. Other analysts, while nowhere near as bullish, are still very positive on the sector. Hemp Business Journal says the market for hemp-derived CBD was about $190 million in 2017, and will grow to $646 million by 2022.
Topicals – Topicals are typically salves or creams that have been infused with cannabis or hemp oil. This allows for easy use to treat problem areas. Many senior citizens use topicals for arthritis or other auto-immune disorders however because of restrictions imposed by various agencies we are not allowed to say whether this is an effective treatment or now. However, a quick Google search will help you find what you are looking for in terms of effectiveness.
The heat is very much on CBD oil sellers these days as the FDA continues to crack down on companies selling “questionable” (to put it nicely) hemp-based products. In fact, since 2015 – when the FDA first issued warning letters to multiple CBD sellers – the industry has been forced to clean up its act, at least in terms of manufacturing operations and brand transparency.