As 2019 drew to a close, no one expected the virus that had been discovered in Wuhan, China in November to bring the world to a complete standstill. Three months into the year, however, the resultant pandemic had caused massive damage to the economy, with industries like food service and airlines shouldering millions of job losses. Although cannabis products enjoyed a spike in sales in the week or two leading up to lockdown orders, the COVID-19 pandemic has since dampened CBD sales.
The nascent industry had previously seen extremely encouraging projections, with last year’s BDSA and Arcview Market Research industry report stating that CBD sales in the USA would surpass $20 million by 2024. However, according to a new report from Brightfield Group titled ‘US CBD Market July 2020’ CBD sales will be much lower than projected…
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