Mainstream retailers are leaping into the world of products like skin creams and oils that tout such benefits as reducing anxiety and helping you sleep.The key ingredient? CBD, or cannabidiol, a compound derived from hemp and marijuana that doesn’t cause a high.
Retailers are taking advantage of the booming industry even as its legal status and health benefits remain murky. And the flood of products is only testing how federal regulators can police it.
Retail sales of CBD consumer products in 2018 were estimated to reach as much as $2 billion, according to Cowen & Co. By 2025, that figure could hit $16 billion in retail sales, the investment firm predicts.CBD has been cropping up in everything from dog treats to bath balms in the past few months.
Domestic diva Martha Stewart is working with Canada’s Canopy Growth Corp. to develop new CBD products. And the nation’s largest mall owner Simon Property Group has hooked up with a cannabis goods maker to open roughly 100 kiosks at its US malls by mid-summer.