Saw a report with good CBD market info from Canaccord Genuity Global Equity Research 9/9/19 and picked this out about fibers...China is a big CBD competitor but has some problems.
Hemp production already flourishes on a global scale
Hemp can be refined for use in a variety of products including textiles, clothing, food,
biodegradable plastics, and other industrial products. It follows that there are many
established markets for hemp worldwide. China is the largest market, accounting for
over $1B in hemp sales or 1/3 of the global hemp market, according to Hemp
Business Journal. Most production in China is focused on textiles, while roughly 20%
is for other industrial products and personal care, with under 10% for CBD. China is a
unique market as only Chinese companies can growl and sell hemp domestically as
part of the country’s five-year plan to establish hemp as a crucial infrastructure crop.
