The hemp industry in the U.S. is booming right now and that is in large part thanks to the growing popularity surrounding CBD.
Last year, the hemp market was estimated to be worth $688 million, it's growing at about 22 percent every year, and CBD products are a large portion of the multi-million dollar success.
Market analysts suggest that the CBD market will explode and grow by 700 percent or more within just a few years time.
Since many CBD products are being made which don't contain the worrisome psychoactive THC component that gets you high, it's a product that has shown mass appeal with consumers of all ages.
Individuals with varying illnesses are increasingly turning to CBD for some sort of remedy, to see if it can help in some way. There are thousands of children being treated around the world currently with CBD, and adults using it to help with their symptoms as well.
Some lower estimates suggest that this CBD market could top $1 billion by 2020 and others have said that it might even surpass $2.1 billion or more.
Eventually, some market analysts suggest that the national cannabis/hemp industry will be worth well into the hundreds of billions of dollars; once it becomes a fully legalized market. It might reach $50 billion by 2026 and if it does that then it would account for more sales than craft beer and chocolate markets combined.
The sales in this industry are continuing to grow in a very big way. The cannabis industry is regarded as the nation's fastest growing industry at the moment.
CBD products aren't just for people either,...
as a growing number of veterinarians and pet-owners have also insisted that CBD is a beneficial product which has helped or has the potential to be helpful to many pets. There are already dozens of different companies out there today on the market that are offering CBD-related pet products.
The cannabis industry isn't showing any signs that it is going to slow down anytime soon; we see quite the opposite. And it's estimated that the global market for medical cannabis will soon exceed $55 billion, by the year 2025.
In 2016, legal cannabis products were purchased by North American consumers to the tune of $6.7 billion and that is an increase of about 34 percent from the previous year.
There have been countless success stories that have been shared online and across the media, detailing personal success stories with CBD use. Whether it's children finding remedy from their hundreds of daily seizures, or others who have claimed success from using it and being able to recover from what was believed to be a terminal illness. With the many people who have seemed to be able to find some benefit from taking this product, it's no wonder that it would prompt others to be curious enough into trying it for themselves.
Though CBD has proven to be helpful to many, and though it might potentially offer benefit and remedy to millions yet, bureaucrats insist on wasting time and standing in the way; doing all they can to try and prevent people from gaining access. Hopefully in time, things will change so that those who need the product will be able to have access to it; where many currently don't.
Pics:
medicalmarijuanainc
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The information that is posted above is not intended or implied to ever be used as any substitute for professional medical advice, or diagnosis or treatment. The above is posted for informational purposes only.
Sources:
http://markets.businessinsider.com/news/stocks/Sales-of-Medical-Cannabis-Products-Are-Expected-to-Grow-1002350020
https://thefreshtoast.com/cannabis/according-to-some-the-cbd-market-will-top-1-billion-dollars-by-2020/
http://www.news9.com/story/36287161/pet-owners-see-benefits-of-cbd-oil
http://metro.co.uk/2017/09/05/miracle-boy-who-was-treated-with-cannabis-oil-is-now-300-days-seizure-free-6905559/
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