CBD. Those three little letters led to a banner year of beauty and wellness product launches, retail partnerships and big-money acquisitions. The non-psychoactive cannabinoid known for its ability to fight everything from inflammation to insomnia is still ascending. CBD's impact on the consumer packaged goods segment, especially in the beauty and wellness market segments, is inescapable, Cannabis industry data firm Brightfield Group forecasts CBD product revenue will grow from $620 million in 2018 to $23.7 billion by 2023. The Brightfield Group report far exceeded other industry forecasts and paints the picture that projects highly optimistic figures anticipated in the hemp-derived CBD industry over the next four years. These figures should make health and wellness product owners feel even more confident about building their businesses, knowing they're in the center of the next big enterprise in health and wellness--one that's every bit beneficial as it is sustainable. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCQB:MCOA), Kona Gold Solutions, Inc. (OTCPK: KGKG), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), PotNetwork Holdings, Inc. (OTCPK: POTN), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI).

Ever since "Legalization 2.0" was first announced, investors have been looking to it as a fulfillment of the long-promised pot gold rush. As of December 17, consumable pot products can be bought and sold on shelves across Canada and, as such, the industry is undergoing a significant disruption. According to Deloitte, the Canadian market for pot edibles and beverages will be worth $2.7 billion annually, and many of the biggest companies have been scrambling to gain access to that value. Because consumables are an entirely new market, they represent an exciting opportunity for retailers to distinguish themselves, and for investors to separate the minor league pot players from the major league ones. Companies that can take advantage of this exciting sector--such as BevCanna Enterprises Inc. (CSE:BEV) (OTCPK:BVNNF) (FRA:7BC), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), Cronos Group (TSX:CRON) (NASDAQ:CRON), Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB), and HEXO Corp. (TSX:HEXO) (NYSE:HEXO) - deserve to have investors' attention, as they stand atop an untapped goldmine in the still burgeoning pot industry.

For the second year, the U.S. FDA designated psilocybin, a compound found in hallucinogenic mushrooms, as a "breakthrough therapy" for the treatment of major depressive disorder (MDD). "This designation, which is designed to expedite the development and review of drugs--given out only for therapies that have shown strong preliminary evidence in treating serious medical conditions--puts new pharmaceuticals on a fast track for approval and offers "intensive guidance" from the FDA," reports Popular Science. Even Researchers at New York University found psilocybin mushrooms caused a "rapid and sustained" reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. That's all opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), HEXO Corporation (NYSE:HEXO) (TSX:HEXO), Trulieve Cannabis Corp. (CSE:TRUL)(OTCQX:TCNNF), The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF), and OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX-V:OGI).