Hemp-based CBD Industry Continues to Show Enormous Growth Potential

Hemp-based CBD Industry Continues to Show Enormous Growth Potential

In a burgeoning market already worth north of $130 million in the United States alone according to the Hemp Business journal, major players in the hemp industry are focused on continued growth as progress is made in legislature, as well as in product development as key leaders are enhancing products and educating new consumer bases. A spokesman for Vote Hemp also estimated there are likely up to 100 hemp cannabidiol brands, as well as hundreds more growers and processors that focus on producing hemp-based CBD. Part of the reason for the massive growth is that many businesses find it’s easier to simply purchase wholesale CBD extracts from another company that’s taken care of the growing and extraction process, and then re-bottle oils and tinctures with their own brand. Demand for hemp-based cannabidiol has skyrocketed, especially since a 2013 CNN report about the success in Colorado of Charlotte’s Web, a CBD product that helped a young epileptic girl control her seizures. Active in the industry on some level of production includes: Hemp, Inc. (OTC: HEMP), SugarMade Inc. (OTC: SGMD), THC BIOMED INTL LT (OTC: THCBF) (CSE: THC), Medical Marijuana Inc. (OTC: MJNA), OrganiGram Holdings Inc. (OTC: OGRMF) (TSX-V: OGI)

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