The rush to capitalize on widespread consumer interest in products that contain cannabidiol has become a stampede. Not a week goes by without news from companies looking to enter or enlarge their presence in the burgeoning CBD business, one whose reach already extends across a range of CPG categories, including health and wellness, beauty, food and beverages, even pet care. Among suppliers, the current boom is driven by both large, well-financed corporations and small, entrepreneurial enterprises; on the retail side, everyone from national chains to mom-and-pop stores have started to sell at least some CBD products.
Naturally occurring in plants in the cannabis family, cannabidiol is a nonpsychoactive substance that proponents say can be used to address a number of issues, among them anxiety, insomnia and pain. Anecdotal evidence and some scientific research support such assertions. The Food and Drug Administration last year approved GW Pharmaceuticals’ Epidiolex, a cannabidiol-based prescription product, to treat two forms of epilepsy. Wilder claims about CBD being able to do things like cure cancer remain unsubstantiated.
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