How to Start and Market Your CBD Company
An immense market is developing quickly for CBD health and beauty products, including in states that have not legalized marijuana.
When people talk about cannabis, they’re often focused on THC—the psychoactive component that gives marijuana its “elevated” qualities. But industry insiders and, increasingly, consumers recognize that the real opportunities are in the plant’s CBD. It opens a door for those eager to join the Green Rush without the legal ramifications and financial hurdles associated with the traditional marijuana product. That’s because while marijuana remains federally against the law, hemp (the low-THC member of the sativa family), from which many CBD products are derived, is now legal, thanks to the 2018 Farm Bill.
America’s legal hemp market is projected to grow from $688 million in 2016 to $1.8 billion by 2020, with hemp-derived CBD products forecasted at a 55 percent annual growth rate. That means ample opportunity for aspiring entrepreneurs to make a little green with a CBD business. Here are the nuts and bolts of getting launched.