NEW YORK, July 24, 2017 /PRNewswire/ —
According to a repot by the Hemp Business Journal and Vote Hemp, the total retail value of hemp products sold in the U.S. in 2016 was $688 million. Items such as shelled seed, protein powder, soaps and lotions have continued to increase in sales. The successful hemp cultivation pilot programs in numerous states have helped popularity of these legal cannabis products. “Hemp Business Journal estimates the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products. The data demonstrates the hemp industry is growing quickly at 22% five year CAGR and being led by food and body care products, with Hemp CBD products showing a 53% AGR,” said Sean Murphy, the Founder and Publisher of the Journal. ChineseInvestors.com, Inc. (OTC: CIIX), Marijuana Company of America Inc. (OTC: MCOA), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC), American Cannabis Company, Inc. (OTC: AMMJ)
Matt Karnes of Greenwave Advisors, stated according to a Forbes report, “In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now, there are 15 states that allow CBD only – this is in addition to the 28 states plus DC that have legalized medical marijuana.” The report indicates that the CBD market has already been targeted by industry insiders. According to Headset Research data, in Washington state alone there are over 800 CBD products in the marketplace.
ChineseInvestors.com, Inc. (OTCQB: CIIX) just announced this morning that, “its wholly-owned foreign enterprise, CBD Biotechnology Co. Ltd., has officially filed a record of its first line of non-industrial hemp-infused skin care products with the China Food and Drug Administration (CFDA). The new ‘CBD Magic Hemp Series’ skin care line is expected to launch between late