$IDVV announced plans to build a CBD production and distribution facility.
CBD products have become increasingly popular in recent years, as it is marketed more and more as the new "it" drug for the health and wellness set - one that has been touted as a pain reliever and a treatment for anxiety, among other potential applications. Last year, consumer sales of CBD products topped $350 million in the United states, more than triple the amount sold in 2014, and various estimates predict the market could reach $2 billion within the next two to four years.
The term "CBD" is a nickname for cannabidiol, which is one of several cannabinoids, or chemical compounds, that are found in cannabis and hemp plants. The most popular cannabinoid is tetrahydrocannabinol, or THC, which is the main psychoactive component in marijuana, the part that gets you high. Because CBD is not psychoactive, it does not create the same buzzy effects typically associated with marijuana when ingested.
