You’ve heard the buzz and you’re starting to see it in your delis, gyms, online, health food stores, even your veterinarian’s office … CBD is the hot new trend. It has been dubbed the “biggest natural product in the history of natural products.”
Entrepreneurs and investors alike are flooding into the space, and for good reason: CBD is a multi-billion dollar market, and it’s only going to continue growing.
It’s important that we define the legality of CBD and the market we’re serving. CBD can be derived from both the hemp plant and marijuana plant, both varieties of cannabis sativa. Hemp-derived CBD is synonymous with ‘Industrial Hemp’ – which is defined as any part of the cannabis plant with less then 0.3% THC. With new recent regulations, hemp is now legal in the United States, and there are no longer restrictions on the sale, transport, or possession of hemp-derived products, and transfer of hemp-derived products across state lines for commercial or other purposes. [The Brookings Institution]
Hemp-derived CBD is now federally legal as long as it is produced in a manner that is consistent with the law.
This means the hemp-derived CBD market, which has already been growing at a lightning pace, is now set for exponential growth. More and more players are entering and more distribution and marketing channels are opening up – industry experts predict that even major retailers like Whole Foods will start carrying hemp-derived CBD products this year.
See for yourself, check out the infographic below for stats and numbers! See the current hemp-derived CBD market valuation, expected growth, and growing importance of eCommerce as a sales channel.
LimeLight has been preparing for the explosive growth in this new market. We have built the one-stop shop eCommerce platform for CBD businesses to get-to market fast, streamline their operation, and scale their brand. As the leading eCommerce platform for the CBD industry, LimeLight has already helped build dozens of successful CBD brands. We are very familiar with the complications and barriers of starting and scaling a CBD eCommerce business, and we have the industry expertise to be a business partner throughout your entire journey from manufacturing to credit card processing, to shipping, fulfillment, marketing, and more.