Monday, October 23, 2017 12:35:00 PM
According to the Hemp Business Journal, the total retail value of all hemp products sold in the US was estimated to be $688 million for 2016. The hemp industry is anticipated to grow to $1.8 billion by 2020, a CAGR of 22% during 2016-2020. According to the Hemp Business Journal, CBD (cannabidiol) remains the fastest growing market categories in the US hemp market with an estimated CAGR of 53% till 2020.
The hemp-derived CBD market is projected to grow up to $450 million, representing 25% of the overall market size. This would represent a 300% increase, from the estimated market size of $115 million for hemp derived CBD at the end of the FY2016. The total CBD market size was $202 million in 2015, comprising $90 million from hemp derived CBD and another $112 million from marijuana derived CBD.
POTN
The hemp-derived CBD market is projected to grow up to $450 million, representing 25% of the overall market size. This would represent a 300% increase, from the estimated market size of $115 million for hemp derived CBD at the end of the FY2016. The total CBD market size was $202 million in 2015, comprising $90 million from hemp derived CBD and another $112 million from marijuana derived CBD.
POTN
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