the passage of 2018 farm bill poses hemp for explosive growth in the United States

 
 
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Released from the confines of an 82-year prohibition, hemp is now legally classified as an agricultural commodity. Just like wheat. Or soybeans.

 

Source: Hemp Business Journal estimates ($ mil., consumer sales)

Products derived from industrial hemp, including CBD beverages, are set for explosive growth. Total CBD sales in the U.S. are expected to reach $22 billion by 2022, as projected by the cannabis market research company Brightfeld Group; Congress’ re-regulation of hemp has presented a good reason for many to celebrate. -Abbie Rosner, Forbes

 
 

A recent article in the New York Post revealed that “major chains such as Walmart and Target have been quietly meeting with makers of drinks, topical creams and other products that are infused with cannabidiol, or CBD, and that big supermarkets such as Kroger and Safeway, are requesting samples of CBD products, along with lab results and pricing information.” -Fickenscher, Lisa. “Walmart, Target quietly exploring CBD product lines”. New York Post.

 
 

Boasting a range of health benefits and, most critically, a degree of legal protection, CBD is helping change the way modern consumers and brands think of cannabis. Having already shown up in a growing spectrum of food and beverage products, the market for legal CBD products is expected to grow to $1.6 billion by 2021. -Market analysis at the Brightfeld Group

Source: Brightfeld Group