The hemp industry has grown consistently since the passing of the 2018 Farm Bill, as a result there has been more interest around cannabinoids, like CBD. The interest around the different ways cannabinoids can improve overall wellness has caused CBD to be used in numerous new products. While 60% of CBD consumers are women, there continues to be few women in the industry overall. Even though the industry overall has equity and diversity issues, there are many people of color and women who are slowly making progress to make a major impact in the industry.
Despite being designed, marketed, and branded nearly solely to women, there’s an alarming lack of data found on women-owned CBD businesses. However, with CBD estimated to reach $3.5 billion in sales in 2021, women who started a CBD business deserve their fair share of the market. It’s so important for women, especially those of color to be represented in this industry since so many minority communities have been and still are being negatively impacted by the criminalization of the plant.
There is still much work to be done to have more women in the industry. JK Distribution is doing our part with our commitment to diversity – team, suppliers, and customers.
As we look forward to the future of the industry, which is estimated to hit over $84 billion worldwide by 2028, we have our eyes on innovative business owners who are poised to take the lead.
Throughout the month of March, we will feature some of them you need to follow… and even give their products a try.