North America has spearheaded the worldwide efforts at legalizing and producing high-quality and safe cannabis. As the world opens its doors to cannabidiol (CBD), companies from Canada and the United States sit poised to dominate the global CBD market.
CBD is now legal in one form or another throughout most of North America, including Mexico. It is also legal throughout most of the European Union (EU) and is slowly gaining acceptance in Asia. The demand for this cannabinoid has skyrocketed and is growing, creating a market worth billions.
From day one, North American companies have been toiling within their respective countries to develop and survive in a market experiencing frequent growing pains. From legal to manufacturing to growing issues, businesses in North America have faced them all and are uniquely positioned to be world leaders in the CBD realm.
In North America, the CBD market is young but highly developed. In both Canada and the United States, it has faced and survived regulatory schemes and is now widely available and accepted. CBD companies are listed on all the major North American stock exchanges, and products containing the cannabinoid are available in many of the familiar pharmacies.
In other words, North American companies, be they farm, distributor, testing laboratory or retailer, are already running a healthy and growing industry that follows regulatory schemes and best manufacturing practices.
According to a report put out by Grand View Research, Inc., the worldwide cannabidiol market should be worth north of 13 billion dollars by the year 2028. That’s a lot of new business, much of which will come from the wave of CBD legalization occurring. And because of their experience and seniority, North American CBD companies will be leaders of this global industry.