Between 2017 and 2018, the U.S. hemp-derived CBD market has nearly doubled in size
The Brightfield Group is a subscriber-driven market research firm that published a 2018 market overview and analysis on hemp-derived CBD, today. Their view through rose-colored glasses reads like a marketing document outlining the best-case-scenario for CBD’s future.
The Brightfield Group’s analysis “lacks an accurate overview of the current and proposed legal landscape and fails to give an analysis of the real market factors in play, which calls into question the projected figures contained in it,”according to Cristina Buccola, Esq., an attorney and business developer in the cannabis and hemp industry.
The summary of their analysis states, “Between 2017 and 2018, the U.S. hemp-derived CBD market has nearly doubled in size, but the five-year growth projections for this market are now dramatically higher than they were a year ago. This is because the full legalization of hemp-derived CBD is now a real and likely prospect following Republican Mitch McConnell’s recent proposal of the Hemp Farming Act of 2018 (Farm Bill). This legislation – likely to pass later this year – would clearly and unambiguously legalize hemp as well as its derivatives, extracts and cannabinoids, including hemp CBD.”
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