The CBD Market: Worldwide consumer spending on legal cannabis

Worldwide consumer spending on legal cannabis

Spending on legal cannabis has increased significantly year over year since 2017 and is on track to continue that growth through the foreseeable future.

What about the food and drink industry?

Consumer spending on cannabis-based food and drink is $1.5 billion in United States and Canada. Other industries growing within the CBD market are:

Tobacco
Altria Group Inc
(Philip Morris and Marlboro)

Alcohol
Constellation Brands
(Corona beer and Svedka vodka)

Pharma
Novartis

Supplements
Emerald Health Naturals
Emerald Health Bioceuticals

In 2018
  • 1/1/2018 Launch of adult-use sales in California

  • The 2018 Farm Bill, passed by Congress, removed hemp containing only trace amounts of THC from the Controlled Substances Act.

  • The entry of some of the largest alcohol, tobacco and pharma companies into the cannabis sector were key to making 2018 a year of historical importance

Source: Troy Dayton, CEO of The Arcview Group

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Tom Foerstel : Founder & President

Tom Foerstel

Founder & President

Growing up in the San Francisco Bay Area in the 60’s, Tom developed a strong desire to create positive change for people and planet.

 

He went on to pursue his passion for art and design at Art Center College of Design in Pasadena, California, and worked for design firms in Southern California before moving to Boise, Idaho in the early 80’s. Foerstel Design opened its doors in 1985. Since its inception, the firm has cultivated a bold, happy, forward-looking team focussed on creating distinct and effective work on behalf of their clients.

 

An integral part of Tom’s philosophy is giving back to the community in which he lives — a company cornerstone that drives Foerstel’s long history of providing pro-bono services to local non-profit humanitarian and arts programs.

 

One of Tom’s proudest personal achievements is his ability to say Supercalifragilisticexpyalidocious backwards.