Green Growth Brands (CSE:GGB, OTCQB:GGBXF) CEO Peter Horvath recently joined CNBC’s ‘Mad Money’ to discuss the growing CBD market.
During the feature, Horvath spoke with host Jim Cramer regarding the difference between CBD products and traditional cannabis products. The CBD market appears ready for significant growth, with industry experts like CNBC reporting the CBD industry has the potential to become a $22 billion market by 2022. This growth is expected to be driven by companies like Green Growth Brands, who have already opened 60 CBD-focused stores in the United States with another 170 expected to be opened over the next several months.
According to Horvath, the CBD market currently offers a more significant opportunity as US regulators have chosen to initially focus on the THC marketplace. “We’ve decided only to sell a topical product, which means it doesn’t get into your blood, which means the FDA isn’t as interested in it. People are selling inhalable and ingestible CBD and right now that’s federally illegal, per the FDA. That’s why we focused on topical,” said Horvath.
The company intends to leverage its experience in retail and personal healthcare products to create a comprehensive line of CBD products that are GMP-certified and fit for national distribution.
To watch the full interview between Horvath and CNBC’s Jim Cramer, click here.