With Joe Biden heading to the White House, and higher likelihood potential legalization with Democrats in Congress, CBD-related companies could see even better days ahead. Better yet, cannabis is seeing broader support.
For example, a Pew Research Center survey found that 67% of the US supports legalization. In addition, a Gallup survey found that 66% of Americans are in favor of legalization. That’s up from just 60% in 2016.
Better, analysts at Nielsen estimate that by 2025, CBD could generate up to $6.9 billion in sales. However, that may be a low estimate, with analysts at Cowen saying sales could reach $16 billion by 2025 with health and wellness products leading the way.