From dog treats to bath balms, retailers are taking advantage of the booming CBD, or cannabidiol, industry even as its legal status and health benefits remain murky.
FILE - In this Aug. 29, 2018, file photo, a customer tries a free sample of a pain cream that contains cannabidiol for her arthritis at Minnesota Hempdropz in Maplewood, Minn. Mainstream retailers are leaping into the world of products like skin creams and oils that tout such benefits as reducing anxiety and helping you sleep. The key ingredient is CBD, or cannabidiol, a compound derived from hemp and marijuana that doesn’t cause a high.
Retail sales of CBD consumer products in 2018 were estimated to reach as much as $2 billion, according to Cowen & Co. By 2025, that figure could hit $16 billion in retail sales, the investment firm predicts. “There’s definitely a huge opportunity for expansion,” said Matthew Mazzucca, creative director at Barneys New York.
CBD’s ubiquity persists despite very little evidence for all the health claims the industry touts. If you believe in the hype, CBD treats pain, reduces anxiety and helps you sleep and keeps you focused. But most claims are based on studies in rats, mice or in test tubes. Human research has been done but on small numbers of people.
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