TEL AVIV, Israel, Jan. 9, 2020 /PRNewswire/ -- For an industry that's projected to reach $20 billion by 2024 in the U.S. alone, the CBD (cannabidiol) market continues to baffle the general public.
That is, until now.
Leafreport, the web's premier source for CBD information, has successfully compiled an ambitious market report that compares over 3,500 products from more than 53 brands — including tinctures, gummies, capsules, pet products, topicals, isolates, e-liquids & vaporizers, and bundles.
"What we encountered was a wild, wild west scenario in terms of manufacturing and marketing. There's no uniformity in terms of quality, concentrations, prices or even labeling," Noa Gans, the Head of Product for Leafreport, said in a statement. "Newcomers to CBD have simply been unable to shop wisely."
Amid this daunting landscape, the results offer a first-of-its-kind roadmap for consumers of all stripes.
Pointing to the most surprising findings, Gans cited huge discrepancies between prices for similar products -- including 250% among vaporizers, 1,000% between tinctures, and a staggering 3,200% overall.
"We've successfully created benchmarks that answer nearly any question a curious CBD user could encounter," Gans noted. "Whether its potency or price points, this report gets to the heart of what everybody needs to know."
The document is all part of Leafreport's efforts to provide new tools and information aimed at demystifying the world surrounding cannabis-derived compounds.
And with recent polling showing that 14% of Americans are using CBD for everything from pain relief to sleep aids, their work can not come at a more important time.
"With the industry growing at such a rapid pace, an educated consumer base is absolutely vital," Gans explained. "Transparency and the hunt for the truth has to come above everything else."
The company's mission is to introduce transparency into the CBD industry through its public database of comprehensive product reviews, comparisons, information, and education about CBD. Medical reviews are a core service and competitive advantage for Leafreport over other online sources. Leafreports' Medical Reviews are provided by vetted members of the medical and scientific community to ensure accurate, current, and patient-focused content.