ALEXANDRIA, Va. — Just one year after NACS added a cannabidiol (CBD) pavilion to the NACS Show, its Crack the Code Experience brought a strong collection of insights and conversation in five CBD-focused sessions and a live Ask the Expert event dedicated to the category.
CBD research source BDSA projects the global CBD market will hit $47 billion by 2025, roughly half the size of total global candy sales. “It’s a huge market and getting bigger,” said Jonathan Havens, partner in Washington, D.C., and Baltimore-based Saul Ewing Arnstein & Lehr LLP, speaking in the “Cannabis in the Age of COVID” session.
That’s good news for the convenience channel, which many presenters predicted will continue to lead in the new retail category, made legal by the 2018 Farm Bill.
“I think our channel is going to be the champion for CBD,” said retailer Don Rhoads, CEO of Vancouver, Wash.-based Convenience Group. Rhoads participated in the “Ask the Expert” session. “The only question is how we get there.”
Here are seven insights shared by Havens, Rhoads and other CBD speakers during the Crack the Code Experience …