Cultivating Wellness announced findings from an extensive study of the current CBD topical marketplace—surveying 358 hemp-based topical products from 111 brands comprising the majority of sales in the sector.
According to the Brightfield Group, a leading cannabis research company as cited by Cultivating Wellness, by 2025, CBD topical annual sales are to projected hit $4.5 billion—a 540% increase in just five years. In U.S. sales in 2019 alone, CBD topical sales exceeded $703 million.
The company found that in some areas, such as formats, the market is converging on a set of consensus standards and encompassing diversity. However, in other areas, most notably dosing and pricing, the CBD topicals marketplace is almost unrationalized.
