Skip to Content
Free Shipping on all Orders Over $50! 90-DAY STRESS-FREE GUARANTEE
Free Shipping on all Orders Over $50!
Search
My Cart

CBD Sales Expected To Grow By 700% This Year

CBD Trends, CBD News
CBD Sales Expected To Grow By 700% This Year

Interest in CBD is at an all-time high and shows no sign of slowing down. The Brightfield Group reports that CBD sales will see a 700% increase this year compared to 2018.

Brightfield managing director Bethany Gomez says that “we will see unprecedented growth in 2019.” Her firm also predicts that the CBD market will reach $23.7 billion by 2023.

The passage of the 2018 Farm Bill plays a major role in this growth since hemp is no longer a controlled substance. Many national retail chains like CVS also carry CBD products as of this year.

What Products Are People Using?

Brightfield reports that tinctures remain the most type of CBD product and drive 25% of total sales. However, a wide range of products are also gaining traction. Topicals are the second-most popular item (17%) and a wide range of beauty products (8%) are now available.

Lazarus Naturals carries a line of High Potency tinctures and a Standard Potency tincture. We even have a wide variety of pet CBD products with serving sizes of CBD that meet the specific needs of animals. Our product line also features a variety of topicals that include three balms and a CBD Massage Oil.

Click here to view the full list of Lazarus Naturals products.

Will The CBD Surge Continue?

The FDA is now reviewing public comments around current CBD rules. The administration forbids the use of CBD in ingestible products such as food and dietary supplements. However, if an alternative and lawful pathway is created for these products, the CBD market could experience another surge.

“It is clear that hemp-derived CBD-infused [products] present enormous market potential,” writes McCarton Ackerman, our Communications Coordinator, in a piece for GritDaily. “There are literally hundreds of options for CBD-infused products…as soon as the FDA paves the way.”

July 19, 2019

About the Reviewer

Dylan Summers — VP of Government Affairs at Lazarus Naturals

Throughout his time in the industry, Dylan has performed the role of salesman, processing technician, project manager, and interim roles in marketing and finance. Today, as VP of Government Affairs at Lazarus Naturals, he primarily assists with navigating the policy and compliance realms on federal and state levels—interfacing with various boards, committees, and associations concerning industrial hemp and lobbying efforts. In his role as the founding member and President of the Association of Western Hemp Professionals, he advocates with business allies across five states for hemp and hemp-adjacent operations. As a technical advisor, he recently was able to help land a historic $10 million grant from the USDA that will help define economic opportunities for hemp in the western United States. As an invaluable generalist, Dylan serves as the Director on the board of the Industrial Hemp Association of Washington in addition to representing us on the Cannabis Committee of the American Herbal Products Association.

From a humble start in farmers markets to the industry leader we are today, Lazarus Naturals was founded on the belief that CBD should be affordable, effective, and accessible to all. Since 2014 we've crafted products of the highest quality at the lowest cost by handling everything ourselves—from our sunny Central Oregon farm to your front door. Being vertically integrated means we oversee each step of the process, from seed to sale, so you know what you're getting. (Among 111 CBD companies recently tested, Leafreport found our labels to be the most accurate in the industry.) The Lazarus Naturals Assistance Program is at the heart of who we are as a company and offers 60% off to veterans, individuals on long-term disability, and low-income households. As the brand that's “Made to Work. Made for All.” we are proud to offer products that are vegan, kosher, and USDA Certified Organic. With cGMP, B Corp, and Leaping Bunny certifications, customers can rest assured we'll never place profits over our purpose, our people, or our planet. ...

0 Comments

    Leave a Reply

    Join the discussion!

    Categories

    Archive