“The global cannabidiol market was valued at USD 4.6 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 22.2% from 2019 to 2025. The demand for cannabidiol (CBD) for medical and wellness purposes is high due to its healing properties, which is the key factor driving the growth of the market. Moreover, growing product adoption and utilization owing to government approvals is a major factor anticipated to drive the demand for cannabidiol infused products.”
Both the image above and the text are from Grand View Research.
There are very few business categories in the world that are growing at over 22% per year. The CBD market is only a small portion of the overall hemp market. As new innovations come online, like hemp biofuels and plastics, we expect to see demand for hemp grow exponentially year over year.
What do you see being the biggest area for growth in the hemp industry?