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Hemp CBD Market To Hit A Billion Dollars By 2020

Hemp CBD Market To Hit A Billion Dollars By 2020

Business

Hemp CBD Market To Hit A Billion Dollars By 2020

If you were wondering how big the hemp CBD market was, wonder no more. Experts are predicting that it will hit a billion dollars by 2020.

The hemp CBD market is about to become bigger than ever. According to financial experts, hemp-derived cannabidiol products will be a billion dollar industry by the year 2020. Why is hemp CBD becoming so popular? Is there a difference between hemp-derived CBD and CBD derived from marijuana?

Hemp CBD

Hemp CBD Market To Hit A Billion Dollars By 2020

So what exactly is hemp-derived CBD? Cannabidiol (CBD) is the nonpsychoactive component of the cannabis plant. The difference between THC and CBD is that the latter is credited for having great therapeutic and medical value, without the high associated with smoking weed. For this reason, doctors who prescribe medical marijuana to children often recommend CBD over THC. There are even strains of cannabis that are mostly CBD, like Charlotte’s Web.

CBD derived from hemp is different than the CBD derived from marijuana. One of the main differences is that marijuana-derived CBD tends to be stronger, due to the interactions with the terpenes and other chemicals in the plant.

Another difference is that hemp tends to have fewer chemicals, including CBD. This means that in order to get hemp-derived CBD, a lot of hemp plants need to be processed. This poses the potential problem of impurities making its way into the final product.

Still, since weed is federally illegal, it’s easier to produce, sell, and purchase hemp-derived CBD products. Even though the legal status of hemp itself is hazy.

Still, the hemp CBD market is booming. Some of the top brands are even earning up to 12 million dollars a year, per company. This information shouldn’t come as a surprise to anyone. Considering that products infused with CBD have become quite popular in recent years, reports like this may seem obvious.

Although 12 million dollars and a projected one billion dollars should never be taken lightly. Since CBD has proven health benefits, companies have been competing with products like CBD-infused bath products and skin care lines, as well as pain management tools, like sprays, salves, and patches.

Final Hit: The Hemp CBD Market Is About To Hit A Billion Dollars

Since the hemp CBD market is making huge strides and proving to be financially viable, what should we expect? The logical prediction might be an even bigger influx of hemp-derived CBD products on the market.

Perhaps even coming from well-established, big-name brands. Anyone looking forward to the day Neutrogena introduces a line of skin care products that are infused with CBD? What about higher-end brands, like Clinique?

Now that we have the information that the hemp CBD market is doing so well, this is definitely within the realm of possibility. Of course, all of this might change is cannabis is legalized on a federal level. Then, manufacturers might abandon hemp-based CBD in favor of whole plant CBD. Since there is a higher concentration of CBD in non-industrial hemp, obtaining CBD from that source would make sense from an economic standpoint.

Chloe Harper Gold

Chloé Harper Gold is a writer in New York City. In addition to cannabis, she is passionate about horror, science fiction, and feminism. You can find more of her writing on Horror Film Central, Feministing, and Twitter.

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