Hemp and CBD Markets Projected to Become a Major Part of the Legal Cannabis Industry

According to a report by the Hemp Business Journal the CBD market is growing at 30 percent and will reach $2.1 billion in sales by 2020, and that $450 million of those sales will be from hemp based sources, and the rest from cannabis sources. The report indicates that the total retail value of hemp products sold in the U.S. in 2016 was $688 million. As a result of successful legalization campaigns across several U.S. states and successful hemp cultivation pilot programs, sales of items like shelled seed, protein powder, soaps and lotions have continued to increase. In all, sales of Hemp CBD products boosted the industry to a five year 22% CAGR. Chineseinvestors.com, Inc. (OTC: CIIX), Medical Marijuana, Inc. (OTC: MJNA), Cannabis Sativa, Inc. (OTC: CBDS), CV Sciences, Inc. (OTC: CVSI), Terra Tech Corp. (OTC: TRTC)

A report by New Frontier Data points out the role of cannabis products for medical use

... read more at: http://www.prnewswire.com/news-releases/hemp-and-cbd-markets-projected-to-become-a-major-part-of-the-legal-cannabis-industry-649048713.html

by

Leave a Reply

Your email address will not be published. Required fields are marked *