Cannabis Marketplace Quick: U.S. Currently second to Asia In CBD-Hemp Profits

Cannabis Marketplace Quick: U.S. Currently second to Asia In CBD-Hemp Profits

PALM BEACH, Florida, April 4, 2019 /CNW/ — a report that is recent an unbiased, technology-driven analytics business devoted to the cannabis industry reported that: “… the international hemp industry reached $3.7 billion USD in retail sales in 2018, with a growth that is annual of 15per cent driven by continued power in Chinese textiles, European industrials, Canadian foods, and also the U.S. hemp-derived CBD market. Asia led all countries with almost $1.2 billion USD in hemp sales in 2018, followed closely by the United States ($1.0 billion), European countries ($980 million) and Southern and Central America ($220 million). The U.S. marketplace is placed to cultivate under the 2018 Farm Bill, with an estimated $2.6 billion projected in product sales by 2022, with $1.3 billion in product sales projected for hemp-derived CBD items by 2022. “As regulatory obstacles diminish within the months and years ahead, organizations will continue to expand the ways that hemp is used, specially across medicinal and commercial applications,” stated (the writer). (more…)