Is CBD the next big thing?
Martin Sumichrast, CEO of Level Brands LEVB, sat down with TheStreet to discuss the outlook for CBD.
In case you didn't know--CBD is not the same as THC.
CBD, or cannabidiol, is a compound found on marijuana and hemp plants. However, unlike THC, it doesn't have psychoactive properties so you won't be getting high off of it.
Here's where Sumichrast sees CBD in the next five years.
"Studies show that the CBD market was probably less than a billion dollars in 2018. And a lot of that has to do with, first of all, it was new. Second of all, it was still considered a Schedule I under the federal law. So, now with the passage of the farm bill which had the hemp rider, which descheduled CBD, now it's opened up," said Sumichrast. And if you look at different studies, we like to quote the Brightfield Group study, we're talking about a market going at over $20 billion in the next five years, and some studies suggest that's doubling five years after that. So, you look at the growth potential of the market is very large over the next decade."
Want to watch the full interview? You can find it here.