PALM BEACH, Fla., Sept. 10, 2020 /PRNewswire/ — Cannabidiol, more commonly known as CBD, has become a household name over the past few years and it is gaining popularity at a substantive pace. The purported therapeutic and health benefits of CBD, one of many compounds found in cannabis and hemp plants, has created a growing demand for infused products. CBD oil has entered the marketplace in the form of tinctures, infused edibles, topicals and more. The growth of CBD oil products has been so immense, in fact, that industry analyst BDS Analytics predicts the U.S. CBD market will reach $20 billion in sales by 2024 according to multiple reports. One such report by leading cannabis researchers BDS Analytics and Arcview Market Research, projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024. Another report by DBMR analyzed the CBD infused edible market and projected it will grow at a CAGR of 25% in the forecast period of 2020 to 2027. Active companies in the Cannabis market this week include Tauriga Sciences, Inc. (OTCQB: TAUG), MariMed Inc. (OTCQX: MRMD), CV Sciences, Inc. (OTCQB: CVSI), Puration, Inc. (OTCPK: PURA), Kona Gold Solutions, Inc. (OTCQB: KGKG).
Needless to say, society is growing more open-minded and accepting of CBD. Many individuals are turning to it for pain relief, stress management, better sleep, and more; and many gas stations, restaurants, and local CVS stores now sell it. Some trends the CBD market might experience in 2020 are increased potency of products, more brick-and-mortar CBD shops, more pharmaceutical CBD products, and more access to products online through CBD websites and e-commerce shops. In fact, Loud Cloud Health said that CBD online sales currently account for 60% of the sales channels. The BDS report also stated: “We’re witnessing CBD maturing from a cannabis sub-category into a full-blown