Ohio-based cannabis company Green Growth Brands announced plans this year to open shops selling CBD-infused beauty products in eight Chicago-area malls.
One week after CVS said it would start selling products with the cannabis compound CBD in some of its stores, drug-chain Walgreens Boots Alliance said it would sell CBD-based sprays, creams, and patches in 1,500 stores throughout nine states.
CBD (Cannabidiol): A substance derived from cannabis plants that does not have psychoactive effects.
New rules for the regulation of CBD products in MI could make the pain and anxiety relievers more widely available to the general public without the fear that the oils, creams, tinctures and lotions are illegal.
The market for CBD products with almost non-detectable levels of THC has exploded in recent years and is expected to exceed $22 billion by 2022.
Now, with guidance from the state's licensing department, CBD products will no longer be regulated like marijuana, no matter if the products are sourced from hemp or marijuana plants, as long as the THC concentration is below 0.3 percent.
STATEWIDE-Walgreens will begin selling CBD products in almost 15-hundred stores in nine states, one of which is Indiana.
Stores selling CBD products have begun cropping up around the United States, and CBD is becoming big business. "Since the Farm Bill passed, we have been seeing smaller and mid-sized chains begin listing the products but the announcements from CVS and Walgreens are seen as a tipping point, where now most of the larger chains of retailers in the grocery, pharmacy and convenience store channels will begin listing the products", Brightfield Group managing director Bethany Gomez told Retail Dive in an email.
It is worth noting that all of the CBD products available through Walmart are sold and shipped by discount vitamin seller VitaSprings, which also sells a wide variety of other vitamins and nutritional supplements through the Walmart Marketplace.