According to the most recent research, the global cannabidiol market was valued at $2.8 billion in 2020 and is expected to grow at an annual rate of 21.2% from 2021 to 2028. The healing properties of CBD-infused products, and the increasing acceptance of their use in mainstream society, are major factors driving that growth. At our June lunch, Venture Connectors was pleased to host a panel of Louisville entrepreneurs who are riding the CBD wave with great success.
The panelists were: Matt Arnold, co-founder and president of Bluegrass Best CBD; Jeff Stum, co-founder and chief products officer for Hectare’s CBD Innovations; and Dee Dee Taylor, owner of 502 Hemp Wellness Center. Taylor also moderated the discussion.
They shared how they got started in the industry, the ongoing challenges of educating the public about their products, navigating industry regulations and the “2nd wave of CBD,” how their businesses have weathered the pandemic, as well as what’s next for them and other CBD retailers in the Louisville region.