The Farm Bill brought immense change to the industrial hemp industry, legalizing CBD and opening the floodgates for a brand-new industry. 2019 is shaping up to be a massive year for CBD, leading to just over a $5 billion industry by end of year – a 706% increase since 2018.
Mass retailers are dipping their toes in the space, leveraging CBD as an opportunity to innovate their brands that have been plateauing. Meanwhile, CBD brands are aiming for accelerated growth through 2020 before these retailers take over. Prioritizing brand equity and awareness, product development, and deep consumer understanding is key.
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