The Future of the Cannabis and CBD Market

In 2018, the same firm projected legal cannabis sales nearly $23 billion by 2025 — a big revision.

Brody said he thinks this number has the potential to be a lot higher in the near future.

“When we first started seeing these legal states coming on board from medical to recreational, it took almost 18 months,” Brody said. “Now we’re seeing states like Arizona do it in under three months. We’re in for a lot bigger market than people think.”

The Future of CBD

Brody’s place of work, HempFusion, specializes in cannabidiol (CBD) products.

CBD sales in the near future should also be pretty strong.

Projections are that CBD sales, just in the U.S., could reach $23.7 billion by 2023, or a 221% increase from 2020 projections.

That is a pretty big boom for the CBD market.

But if more states legalize cannabis, CBD sales may take a hit.

Brody said this isn’t the most comprehensive outlook: He believes the CBD market will be bigger and more ubiquitous for long into the future.

“While cannabis takes all the headlines, the actual market for CBD is bigger and completely legal,” Brody said. “Why wouldn’t we, as an investor group, want to position ourselves early in something like that?”