Largest CBD Companies Research Summary
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The largest CBD company in the U.S. is Charlotte’s Web, with a revenue of $96.1 million.
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As of 2021, the U.S. CBD industry has a market size of $12.8 billion.
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As of 2020, one-third of all Americans have used CBD products.
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The U.S. CBD market is projected to grow at a CAGR of 21.7% through 2028.
After industrial hemp farming was legalized in 2018, the world of commercialized CBD seemed to be flooded overnight with both startups and well-established companies.
Even though this industry has plenty of potential for growth, there are still some challenges to being a company in the CBD industry.
Many CBD products are still federally illegal, and because of this and the fact that they are health supplements, the FDA has pulled no punches with enforcing the rules surrounding them.
Other challenges for businesses in this field include market oversaturation and customers realizing that they want high-quality CBD products and becoming choosier with their purchases.
Through it all, many companies have firmly established themselves in the industry and seem to be here to stay.
In this article, you’ll find a list of 15 of the largest CBD companies in the U.S. ranked by their most recently available estimated annual revenue.
15 Largest CBD Companies in the United States
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Charlotte’s Web. Boulder, Colorado
2021 Estimated Annual Revenue: $96.1 million
Charlotte’s Web was founded in 2011 by seven brothers who wanted to help people all over the world manage their pain.
The company’s name reflects this mission, as it’s named after Charlotte Figi, a young girl suffering from a rare form of epilepsy.
Her illness and the seizures that came with it didn’t respond to medication but did respond to the CBD from a strain of marijuana that the brothers developed specifically for her.
Charlotte’s Web’s most recent product lines are CBDMedic and CBD Clinic, developed by Abacus Health Products. These combine CBD with other pharmaceutical ingredients for both over-the-counter and prescription use.
The company also partners with philanthropic organizations around the state of Colorado and the country. These include Denver Urban Gardens, Children’s Hospital Colorado, Adaptive Training Foundation, and Women’s Bean Project.
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Medterra. Irvine, California
2021 Estimated Annual Revenue: $50 million
Medterra was founded in 2017 and offers only THC-free products, as opposed to some companies that offer products with THC below the legal limit.
The company sources all of its hemp from farms in Kentucky and ensures its extracts are tested by third-party labs to ensure quality and safety.
Medterra sells oils, supplements, gummies, topicals, and pet products to help boost customers’ overall wellness as well as to address more specific concerns such as pain, difficulty sleeping, or low energy levels.
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Gaia Herbs. Brevard, North Carolina
2021 Estimated Annual Revenue: $45.7 million
One of the oldest organizations on this list, Gaia Herbs was founded in 1987 in North Carolina’s Blue Ridge Mountains.
In addition to its hemp and CBD lines, the company sells a wide variety of products made from dozens of herbs and spices. These include black elderberry, turmeric, maca, agave, and acacia, to name just a few.
The company’s hemp-based products come in the form of liquid extracts and capsules, and many of them include additional herbal ingredients to help further alleviate specific health concerns.
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Pure Hemp Botanicals. Denver, Colorado
2020 Estimated Annual Revenue: $45 million
PureHemp Botanicals’ slogan is “Compassion in Action.” Because of this, their company’s mission is to “produce sustainable, plant-based, vegan, and cruelty-free products.”
The company offers pet products, body care, mints, and even teas to promote immune health, peaceful sleep, and pain relief in customers.
In addition to its individual products, Pure Hemp Botanicals offers subscription plans for softness and tinctures based on the strength of CBD customers need and want.
Pure Hemp Botanicals also donates a portion from every sale to several different charitable organizations.
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cbdMD. Charlotte, North Carolina
2020 Estimated Annual Revenue: $41.7 million
Founded in 2015, cbdMD offers CBD tinctures, gummies, topical solutions, bath bombs, oils, and pet products.
The company has also partnered with a number of professional and amateur athletes to promote cbdMD, including Bubba Watson, Daniel Cormier, Chael Sonnen, Jamie O’Brien, and Leah Pruett.
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Medical Marijuana, Inc. San Diego, California
2021 Estimated Annual Revenue: $34.1 million
Medical Marijuana, Inc. is a holding company whose subsidiaries include HempMeds and Kannaway, companies that are present in the U.S., Brazil, and Mexico.
These companies’ brands include Real Scientific Hemp Oil, Dixie Botanicals, Cannabis Beauty Defined, Revive, Canchew, and Kannakick.
Medical Marijuana started in 2009 and is the first publicly traded cannabis company in the U.S. It was also the first to ship cannabis between state and international borders. The company sells CBD oil, tinctures, and capsules.
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Green Roads. Deerfield Beach, Florida
2020 Estimated Annual Revenue: $33.8 million
Green Roads’ co-founder and CEO is a licensed compounding pharmacist, allowing the company to have the unique slogan “Pharmacist Formulated.”
As a result, the company is known for its quality control, its user-friendly dosage measurement tools, and being a well-established company before the CBD market fully took off.
The company offers topicals, edibles (which include chocolate and gummies), oils, and capsules, as well as coffee, bath bombs, and pet products.
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CBD American Shaman. Kansas City, Missouri
2021 Estimated Annual Revenue: $24 million
CBD American Shaman was one of the first major brands in the CBD market, and it’s only grown since then through its franchise opportunities and respected product quality. In 2019, the company had over 200 stores in 30 states.
CBD American Shaman offers CBD oils, topicals, gummies, capsules, edibles, tea, candy, water, skincare products, hemp flowers, and pet products. It also offers both THC-free products and items with low, legal levels of THC.
The company also provides discounts for low-income customers and veterans.
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CV Sciences. San Diego, California
2021 Estimated Annual Revenue: $20.0 million
CV Sciences was founded in 2010 and has several subsidiaries including CannaVest Europe, GmbH, U.S. Hemp Oil, LLC, and Plus CBD, LLC.
CV Sciences has long been working on the scientific end of the CBD industry to conduct research and clinical trials on its products. It’s also the first company to receive the FDA Generally Recognized as Safe (GRAS) designation for its CBD products.
CV Sciences offers CBD edibles, soft gels, balms, liquids, roll-ons, skincare, and pet products.
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CBDistillery – Balanced Health Botanicals. Denver, Colorado
2020 Estimated Annual Revenue: $20 million
Founded in 2016, CBDistillery’s founders are Colorado natives who source their hemp from Colorado growers. Known for being one of the most reasonably priced CBD brands on the market, CBDistillery also offers a military discount.
The company produces CBD oils, soft gels, gummies, topicals, and powders. It also makes its products easily accessible to wholesalers.
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NuLeaf Naturals. Denver, Colorado
2021 Estimated Annual Revenue: $19.4 million
NuLeaf Naturals began in 2014 and provides full-spectrum CBD products that only use organic hemp grown in Colorado. The company also uses CO2 extraction methods to ensure they don’t have to add chemicals to their product in order to extract the CBD.
NuLeaf Naturals’ product offerings are straightforward, as the company only sells oils, soft gels, and pet products. Customers can also use the company’s subscription service for a 10% discount on products.
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Elixinol. Westminster, Colorado
2021 Estimated Annual Revenue: $14.1 million
A company that has been working with hemp to make clothing and other materials for 25 years, Elixinol has partnered with researchers, doctors, and veterinarians to develop its products.
Elixinol offers full- and broad-spectrum oils as well as gummies, capsules, and topicals. The company also offers bundles and starter kits to allow customers to try multiple products so they can learn what they like.
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Koi CBD Ltd. Norwalk, California
2020 Estimated Annual Revenue: $8 million
Koi CBD was founded in 2015 and is based in California. In order to give customers peace of mind that they’re getting high-quality CBD, the company offers full traceability for each of its products.
Koi CBD offers oil tinctures and shots, balms, gels, vape bars, gummies, soft gels, hemp flowers, pet products, bath bombs, and lotions.
Since many people don’t enjoy the taste of CBD, the Koi CBD’s products come in different flavors such as orange, strawberry, and peppermint.
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H.Hemp. Boulder, Colorado
2020 Estimated Annual Revenue: $4 million
H.Hemp’s founder started using CBD after she had become addicted to regular prescription drugs while trying to calm her mind.
Because of this, the company donates a portion of its profits to organizations working to combat the opioid and anti-anxiety drug epidemics.
The H in H.Hemp stands for “Honest,” but also refers to the company’s slogan: “Happy. Healthy. Honest.”
The company sells its products wholesale to retailers as well as individual products to customers.
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Purespectrum. Evergreen, Colorado
2020 Estimated Annual Revenue: $4 million
Even though the company is based in Colorado, Pure Spectrum’s CEO grew up on a farm in Kansas. Because of that, he has instilled an appreciation and respect for farmers into the organization.
Pure Spectrum also has a history of creating products for athletes and even partnered with the U.S. Olympic weightlifting team.
The company provides the athletes with CBD products that are safe and compliant with the anti-doping laws they have to abide by. Pure Spectrum has also sponsored over 100 professional athletes.
Pure Spectrum has several brands under its umbrella, including Pure Spectrum, Black Label, and Endopet.
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Author
Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.
