- Statista report notes that the global cannabidiol market size is expected to expand at a compound annual growth rate of 21.2% from 2021 to 2028
- Increasing awareness of CBD’s therapeutic benefits have influenced buyers to buy cannabidiol products, regardless of their cost
- Simply Sonoma, a CBD company focused on building a reputation as a leader in plant-based medicinal health and beauty products
A recent Yahoo.finance article touted the growth of the CBD market, a sector that has seen steady growth even during the pandemic (
https://cnw.fm/0O8Oi). Titled “CBD Market to Grow to $16 Billion by 2026 — Should You Invest?,” the article reports the projected billion-dollar growth of the CBD space, growth that
Simply Sonoma, a company committed to organic farming, is primed to benefit from.
“The global cannabidiol market size was valued at $2.8 billion in 2020 and is expected to expand at a compound annual growth rate of 21.2% from 2021 to 2028, according to a Grand View Research report,” the Yahoo article reported. “In addition, sales of CBD products in the U.S. stood at $4.6 billion dollars in 2020, and by 2026, this market is expected to grow to $16 billion dollars in value, according to a Statista report.
“Increasing awareness of CBD’s therapeutic benefits have influenced buyers to buy cannabidiol products, regardless of their cost, according to the report,” the article continued. “In turn, as these have a greater profit margin, commercial retailers, including health and wellness retailers such as Rite Aid, CVS Health and Walgreens Boots Alliance, are now focusing on selling CBD products.”
The growing awareness and popularity of CBD is especially evident in California. “With estimated sales of $730 million, the state of California is the country’s leading market for CBD products,” stated the article, which also noted the growing variety of CBD products available. “‘CBD products come in many different shapes and sizes, including tea, vape products and soaps. Within the food segment, oils and spreads were the most common types of cannabidiol products in 2019,” according to Statista.
“‘In American convenience stores, vitamins were the leading CBD segment in terms of sales, generating over 20 million U.S. dollars in 2020. Overall, lotions and balms were the segment of CBD products that sparked the most interest among consumer[s] in the U.S. followed by gummies, tinctures, and supplements. While still a relatively small factor in consumer markets, CBD penetration is growing. In 2019, CBD accounted for four percent of the global vitamin and dietary supplements market. By 2027, this number is expected to grow to over 20 percent,’” the article concluded.
Those are exciting numbers for Simply Sonoma, a CBD company focused on building a reputation as a leader in plant-based medicinal health and beauty products. Specifically, Simply Sonoma is developing broad-spectrum CBD products for therapeutic applications from a scientific perspective. Its products come from the farm rather than from a lab, with the goal of achieving fewer side effects and more efficacy for patients. The company is committed to incorporating published, science-based trials and research into the formulation and manufacture of its CBD offerings.
Simply Sonoma is a different kind of natural company and looks forward to introducing its exceptional products to the consumer market.
For more information, or to invest in Simply Sonoma, visit the company’s website at
www.SimplySonoma.org.
NOTE TO INVESTORS: The latest news and updates relating to Simply Sonoma are available in the company’s newsroom at
https://cnw.fm/Sonoma
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2)
CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit
https://www.CannabisNewsWire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published:
http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW?
Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
[email protected]
CannabisNewsWire is part of the
InvestorBrandNetwork.