• September 21, 2020
    • Loading stock data...
  • Chart: 2020 an ‘extinction event’ for thousands of CBD companies, but industry remains crowded

    LinkedIn

    Rocked by a global pandemic and its resulting economic havoc, thousands of CBD companies in the United States will likely shutter in 2020 – but the CBD market will remain flooded with some 1,500 brands jostling for market share, according to cannabis research firm Brightfield Group.

    The top 20 over-the-counter CBD companies accounted for just 17% of the overall CBD market in early 2020, with some 3,000 other competitors crowding 77% of the market, the firm estimated in a report released last week.The largest CBD producer, London’s GW Pharmaceuticals, makes prescription CBD medicines and accounted for the final 6% of U.S. CBD sales, according to Brightfield’s count.

    The flooded market is a result of entrepreneurial enthusiasm for a booming trend with few established brands. Throughout 2019, the CBD market saw so many new CBD market participants that those earning less than $1 million in annual revenues occupy over 97% of the market, Brightfield concluded.

    Read full article here: https://hempindustrydaily.com/chart-2020-an-extinction-event-for-thousands-of-cbd-companies-but-industry-remains-crowded/?mc_cid=6a219c9b40&mc_eid=33e049eacb

    Share.

    About Author

    Comments are closed.