Americans in 2021 to CBD spent up to 1.4 billion euros. Available data from the renowned statistics website Statista suggests that sales of CBD products in the United States are growing every single year, even though there is a massive legalisation of cannabis with psychoactive effects underway. As a result, it can be said that the popularity of CBD is not being harmed by the extreme popularity of THC; on the contrary, the two substances complement each other in the consumer market - CBD, for example, reduces many of the negative effects of THC. In addition, their combination can produce entirely new effects, which more and more US residents seem to be finding out.
Americans spent a staggering amount in 2021
As the opportunity to see in the chart below, the available data claims that the US consumer market for CBD reached an amount worth more than $1.6 billion during 2021, which is about €1.4 billion when converted. If we compare it to 2020, this is a pretty decent year-on-year improvement, as we are talking about a difference in size of more than $400 million. In 2019 , $845 million worth of CBD products were sold in the U.S., and during 2018 , it was about $300 million less.
All of this adds up to CBD sales being better by several hundred million dollars every single year in one of the largest consumer markets. This is indicated by the projection for the current year, which is the last blue bar in the chart.
If we talk about data projections for the current year 2022, the Statista website mentions an amount that reaches almost 2 billion US dollars. If this is true, it will be a year-on-year improvement of more than $300 million.
The available data also shows that the interest in CBD products has not diminished even years after their launch. On the contrary, the demand for the health benefits of cannabinoids from the hemp plant is increasing. This is despite the legalisation of THC marijuana, which can now be legally obtained in up to 16 US states, including Colorado and sunny California. As far as medical marijuana is concerned, 35 states in the US offer THC marijuana for medical purposes, which is far from enough. What is important here, however, is that almost every single US state that has made medical marijuana available has soon implemented full-fledged legalisation of marijuana for recreational use.
