Walgreens is to sell CBD products in almost 1,500 of their stores across the country, the chain has confirmed. According to the Motley Fool, topical products like lotions and sprays will be sold in CVS stores in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee, states where "legal weed" is allowed.
Notwithstanding the challenging regulatory environment, the mass marketing of hemp-derived CBD, now that hemp is no longer a federal controlled substance, provides a lucrative opportunity for the hemp-derived CBD supply chain - cultivators, processors, and retailers, including the major pharmacy chains.
Cannabidiol or CBD is acquired from hemp plant which belongs to the family plant of cannabis from which marijuana grows.
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- Walgreens will soon jump on the CBD bandwagon. Research firm Cowen has predicted the market for CBD to reach a value of $16 billion by 2025. In 2018, many expected that gray area to finally clear up, with the new farm bill. CBD is non-psychoactive, meaning it won't get you high.
CBD is becoming a hot topic in the USA retail space, particularly wellness and beauty retail. This made a legal distinction between cannabis and hemp and defined hemp as "any part of the Cannabis sativa L plant, including all derivatives and extracts such as cannabidiol (CBD), provided that the plant contains less than 0.3% tetrahydrocannabinol (THC)".
CVS, the United States' largest drug store chain, where most people restrict their shopping to the typical drug store purchase, like Doritos, nail polish, condoms, and overpriced school supplies, is now selling CBD.