CBD: What does the future of the market and industry look like?

MARQUETTTE, Mich. (WLUC) - With cannabidiol, also known as “CBD,” being marketed as a potentially-safe supplement for a range of health issues, Pharmacist Tyler Jenema of Peninsula Pharmacy in Marquette says more people are looking into trying CBD.

More businesses are getting into the CBD industry, usually displaying signs and window advertisements stating that they have it for sale.

"We've definitely seen an increase in the amount of people who are coming in and asking questions and inquiring about the uses for it and how they may be able to benefit from it,” he said.

More businesses are also getting into the CBD industry, usually displaying signs and window advertisements stating that they have it for sale.

Becky Simmons of Marquette sells CBD products through an at-home business.

"It's trendy for a couple of reasons. For one, people can make money on it. So anytime we see that come into play, it's recently legalized and so you just have to be careful. Be a smart consumer about it,” said Simmons.

She added, however, that with more places to buy CBD, consumers have to do research to make sure they're getting quality products since CBD is not regulated by the FDA.

"You can get a lot of things on the market that aren't good for you and who knows what's even in that? So you want to be careful with what company you partner with to do that."

Penny Milkey, the owner of Northern Specialty Health in Houghton, said that with CBD’s popularity, more and more types of products are being made to fit different peoples' needs.

"CBD is very versatile. It can be in a powdered form to a ready-to-eat gummy form," Milkey said.

Simmons added that the CBD industry is projected to grow to nearly $20 billion within the next three years.

"You're going to see a ton of growth in this area and some might be good and some might be not. It's definitely a business that's booming. It's also something that's be utilized in the agricultural industry because as we get away from tobacco, we have all these farmers that are looking for a different crop to utilize,” she said.

To view the first two parts of this series, please check out the related stories section.



 
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