New reports show that the market for hemp in the U.S. could grow even faster than it has been in 2019 after the Department of Agriculture introduces new rules this month.
Initial market analysis has placed the value of new American hemp markets very highly, with Markets and Markets projecting that the hemp industry could be worth $39.4 billion by 2023. Past projections of the CBD trade by the Brightfield Group said that sector could be worth $22 billion by 2022. [2]
Those Brightfield projections didn’t incorporate the wider uses of the hemp plant, which include textiles, plastics and other innovations Americans have been missing out on for decades while hemp was unfairly prohibited.
Now, farmers, scientists and entrepreneurs of all stripes are turning to cash in on a green wave of cannabis crops and CBD products.
People all over America are flocking to CBD retailers for their chronic pain, anxiety, insomnia and a long list of other issues.
As an influx of businesses flood the market for hemp and CBD products, its understandable why the prospect is at once exciting, attractive and confusing.
Navigating the web of federal, state and banking regulations swirling around the cannabis industry in an amorphous but intimidating posture is daunting.
Many first time entrepreneurs need resources to make the venture more palatable, even as they become convinced of the promise in CBD and hemp.
This is why Nothing But Hemp and its licensing program has been such an unmatched success in recent months. With locations in Florida, Nevada, Minnesota, and a consistently expanding user and licensee base, Nothing But Hemp has the perfect mix of features for those interested in cannabis entrepreneurship.
As licensees of Nothing But Hemp, owners can be totally free to mold their store or kiosk after their own tastes while marshaling the CBD products, know-how, branding and management assistance they can only find with the company’s experienced staff with years in the retail and marijuana trades.
From advertising and marketing assistance, cannabis education sessions at the Nothing But Hemp headquarters or a new licensee’s location, plus banking resources to make sure businesses are off and running from the start, Nothing But Hemp continues to innovate and offer opportunities for excited investors.
The business-in-a-box model makes it easy to start a Nothing But Hemp location with minimal obstructions and at a range of prices to fit each owner’s needs.
For more information about the cannabis market or licensing opportunities at Nothing But Hemp, check out the links below. [6]
Sources
[1] https://www.marketsandmarkets.com/PressReleases/cannabis.asp
[2] https://www.brightfieldgroup.com/post/hemp-cbd-market-to-reach-22-billion-by-2022
[5] https://www.wlrn.org/post/new-hemp-industry-buoyed-cbd-demand
