Just as the marijuana industry has exploded in recent years, so too has a sector that revolves around the plant’s non-psychoactive cousin: hemp.
In particular, demand for hemp-based Cannabidiol has skyrocketed, especially since a 2013 CNN report about the success in Colorado of Charlotte’s Web…
Hemp-based CPD Cannabidiol products, unlike heavy marijuana strains, also can be legally ordered on the internet and shipped across state lines, further fueling growth.
The hemp CBD market has reached an estimated retail value of $688 million in the United States alone, according to a 2017 market estimate by the Hemp Business Journal. See the chart below:
Currently, a bill co-sponsored by both Dem and GOP leaders is in front of Congress which paves the way for further development of Hemp industry growth in the US.
Hemp also presents a big opportunity for those in the agricultural industry whose crops may not be getting as large a price at market as they once did. That’s the situation in Kentucky, a deep red conservative state that has embraced the resurgence of hemp.
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