$IDVV Currently, the market for CBD is on track to
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Posted On: 11/21/2018 11:06:23 AM
$IDVV Currently, the market for CBD is on track to generate more than $600 Million in 2018. Forbes reported that CBD sales will reach over $1 Billion by 2020. The CBD market has virtually doubled between 2017 and 2018 and projections over the next 5 years are significantly higher than in recent years.
Growth is anticipated primarily due to the expectation of the Hemp Farming Act of 2018 (Farm Bill) passing. If it is passed, this will legalize hemp as well as its byproducts which include extracts and cannabinoids, including hemp CBD. The market for CBD-derived products is projected by some to rapidly expand up to $22 Billion by 2022.
Growth is anticipated primarily due to the expectation of the Hemp Farming Act of 2018 (Farm Bill) passing. If it is passed, this will legalize hemp as well as its byproducts which include extracts and cannabinoids, including hemp CBD. The market for CBD-derived products is projected by some to rapidly expand up to $22 Billion by 2022.
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