Top CBD Companies in the USA: A Comprehensive Review
The CBD market in the United States has seen exponential growth over the past few years. With an expected Compound Annual Growth Rate (CAGR) of 21.7% through 2028, the potential is enormous. However, navigating through the plethora of available CBD companies can be overwhelming. That's where we come in. This article will guide you through the top CBD companies in the USA, providing you with all the information you need to make an informed decision.
Introduction to the CBD Industry
CBD, short for Cannabidiol, is a compound derived from the hemp plant, legalized for industrial farming since 2018. It has since found its way into a variety of health and wellness products, thanks to its potential therapeutic properties. As of 2021, the U.S. CBD industry boasted a market size of $12.8 billion, serving one-third of all Americans who have used CBD products.
Despite the potential, the CBD industry is not without its challenges. From federal legality issues to market oversaturation and evolving customer preferences, companies have had to adapt and innovate to cement their place in the industry.
Let's dive into our list of the top CBD companies making waves in the USA.
1. Charlotte's Web
Estimated annual revenue for 2022: $74.13 million
Charlotte's Web, based in Boulder, Colorado, is the largest CBD company in the U.S. Founded in 2011, the company's mission is to help people manage their pain. Their product lines, CBDMedic and CBD Clinic, combine CBD with other pharmaceutical ingredients for over-the-counter and prescription use.
What sets Charlotte's Web apart is its commitment to philanthropy, partnering with organizations around Colorado and across the country.
2. Gaia Herbs
Estimated annual revenue for 2022: $54.3 million
Gaia Herbs, founded in 1987 in North Carolina, is one of the oldest organizations on this list. They offer a wide variety of hemp and CBD products, along with products made from dozens of herbs and spices. Their hemp-based products come in liquid extract and capsule forms, often combined with additional herbal ingredients to address specific health concerns.
3. Pure Hemp Botanicals
Pure Hemp Botanicals, based in Denver, Colorado, offers a range of products, including pet products, body care items, mints, and teas. The company's mission, "Compassion in Action," is reflected in their sustainable, plant-based, vegan, and cruelty-free products. They also offer subscription plans for softness and tinctures based on the strength of CBD customers need and want.
Estimated annual revenue for 2022: $35 million
cbdMD, founded in 2015, offers a variety of CBD products, including tinctures, gummies, topical solutions, bath bombs, oils, and pet products. The company has also partnered with several professional and amateur athletes, further promoting their brand.
5. Medical Marijuana, Inc.
Estimated annual revenue for 2021: $34.1 million
Medical Marijuana, Inc., the first publicly traded cannabis company in the U.S., holds subsidiaries that include HempMeds and Kannaway. Their brands, including Real Scientific Hemp Oil and Dixie Botanicals, are present in the U.S., Brazil, and Mexico.
6. Green Roads
Estimated annual revenue for 2020: $33.8 million
Green Roads, based in Deerfield Beach, Florida, is known for its quality control and user-friendly dosage measurement tools. They offer topicals, edibles, oils, and capsules, as well as coffee, bath bombs, and pet products.
Estimated annual revenue for 2022: $24.6 million
Medterra, founded in 2017, offers only THC-free products. They source all of their hemp from farms in Kentucky and offer oils, supplements, gummies, topicals, and pet products to boost overall wellness.
8. CBD American Shaman
Estimated annual revenue for 2022: $24.8 million
CBD American Shaman, one of the first major brands in the CBD market, offers CBD oils, topicals, gummies, capsules, edibles, tea, candy, water, skincare products, hemp flowers, and pet products. They also provide discounts for low-income customers and veterans.
9. CV Sciences
Estimated annual revenue for 2022: $16.2 million
CV Sciences, founded in 2010, has multiple subsidiaries and offers CBD edibles, soft gels, balms, liquids, roll-ons, skincare, and pet products. They're also the first company to receive the FDA Generally Recognized as Safe (GRAS) designation for their CBD products.
10. CBDistillery - Balanced Health Botanicals
Estimated annual revenue for 2022: $12.4 million
CBDistillery, founded in 2016, is known for being one of the most reasonably priced CBD brands on the market. They produce CBD oils, soft gels, gummies, topicals, and powders.
Choosing the right CBD company for your needs can be a daunting task with the vast number of options available. This list of the top CBD companies in the USA aims to simplify this process and help you make an informed decision. Remember, always do your research and consult with a healthcare professional before starting any new health and wellness regimen.