The cannabidiol (CBD) industry has seen massive growth in the past few years. Valued at $1.8 billion in 2018, the US CBD market is expected to hit $16.32 billion by 2026, a compound annual growth rate of 27.7%. The genesis can be traced back to the 2018 Hemp Farming Act, legislation that legalized the cultivation of industrial hemp, the plant from which cannabidiol, touted as a miracle drug, is extracted.
Bolstered by this regulation, tons of sellers streamed into the industry, some dealing in hemp farming and others dealing with the CBD end. However, despite the fact that there is obviously an immense market, companies that specialize in CBD-infused products have been having a hard time keeping their profits up. CV Sciences and Charlotte’s Web are among the cannabis companies going through…
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