The war over the legalization of adult-use cannabis in the state has not slowed the expansion of the ever-growing cannabis industry. CBD products, derived from cannabis without the traditional psychoactive effects — and perfectly legal — have become more popular in an explosive growth of related businesses in New Jersey.
Well-known companies such as American Eagle, DSW and Abercrombie & Fitch are jumping on the cannabidiol train with CBD-infused body-care products. More companies are following suit, or at least considering it, as the CBD industry has the potential to become a $22 billion business by 2022, according to cannabis-focused research firm Brightfield Group.
Despite the increase in general popularity, CBD products are still unknown variables for many business and investors.
ROI-NJ recently held a Thought Leadership Series panel to discuss the industry.