Data Bridge Market Research provided an in depth look at the industry and estimates that it will grow by a CAGR of 29.60% through 2029. At this growth rate, the market will be worth approximately $7 billion compared to just $952 million in 2021.
CBD or Cannabidol is the non-psychoactive component to the cannabis plant. Compared to its psychoactive counterpart, THC, CBD is used around the world for its restorative and healing properties. The product is infused into plenty of everyday items that can alleviate chronic illnesses, mental health issues like anxiety, and pain management.
So why is CBD included in skin care products? It has been found to be anti-inflammatory and even has hydration properties. These can be used to treat dry and irritated skin and other dermatological issues.
How can we take advantage of this forecasted growth? Investing in companies like Cronos Group (NASDAQ:CRON), Endexx (OTC:EDXC), Aurora Cannabis (NASDAQ:ACB), and Charlotte’s Web (OTC:CWBHF).
Endexx is an intriguing choice amongst these well-established cannabis and CBD companies. Why? The company has recently been added to the shelves of leading retailers in the US like Target (NYSE:TGT), CVS (NYSE:CVS), and Amazon (NASDAQ:AMZN). It also has a wide variety of products including pet CBD treats and drops. If the CBD market continues to expand, then Endexx will certainly be a huge beneficiary.
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