Listen to this: According to the latest estimates, the CBD industry is expected to be worth $16 billion by 2026. While the CBD world is not lacking in products, there is an overall lack of diversity in the field. Women and minorities only make up a small percentage of the total number of business owners and executives in the space. How bleak are the numbers?

In 2017, women accounted for 27% of owners, and minorities only represented 19% of the industry. Since the pandemic, the numbers have increased drastically, so let’s see where things stand now.

Economic and Inequality Impacts 

While the 2017 numbers may not seem like a huge deal, they represent money that vulnerable communities lose out on at any given time. This symbolizes growing inequality in a burgeoning field with room for so many actors. To combat the problem, places like Denver and San Francisco have implemented programs to remove barriers that could prevent women and minorities from entering the industry.

Growth of Minorities and Women Post-Pandemic

According to MJBizDaily, the percentage of women executives increased to a whopping 36.8% beginning in 2019. As expected, the numbers dropped off during the pandemic. However, by 2023, they rebounded to 39%.

Conversely, racial minority executives jumped to 28% in 2019. The percentages continued to dip throughout the pandemic to an all-time low of 12.1% in 2022. While minority executives haven’t reached the 2019 level again, healthy growth occurred in 2023, with this group accounting for 24.3% of executives.

Diversification Initiatives in the Field

Since an increasing number of people realize there has been an issue, more and more previously excluded groups are entering the field, thanks to various initiatives. Because of this, the CBD industry expects continued growth among minority and women executives and owners. In many cases, women have come together to establish their brands, and the same is true for minorities. At this rate, the CBD field will continue to thrive from increased diversity.

Diverse Green Leaf Products

Besides diversity in the CBD field, you also want to embrace diversity among your Green Leaf products. We offer everything customers will love, from tinctures to powders to crystals. We want to ensure that any CBD lover can find the perfect product to suit their needs. To check out the best of the best, turn to Green Leaf for an abundance of exceptional CBD items.