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

PALM BEACH, Florida, April 4, 2019 /CNW/ — a report that is recent a separate, technology-driven analytics company focusing on the cannabis industry stated that: “… the global hemp industry reached $3.7 billion USD in retail product sales in 2018, with a growth that is annual of 15% driven by continued energy in Chinese textiles, European industrials, Canadian meals, while the U.S. hemp-derived CBD market. China led all countries with almost $1.2 billion USD in hemp product sales in 2018, accompanied by america ($1.0 billion), European countries ($980 million) and South and Central America ($220 million). The U.S. market is placed to develop under the 2018 Farm Bill, with an estimated $2.6 billion projected in sales by 2022, with $1.3 billion in product sales approximated for hemp-derived CBD items by 2022. “As regulatory obstacles diminish within the months and years ahead, Businesses will continue to expand the real ways in which hemp is used, specially across medicinal and industrial applications,” stated (the writer). Read more »