New reporting seems to corroborate the widespread trend that holds up CBD and hemp products as one of the most promising areas of entrepreneurial growth in coming years.
The Associated Press recently printed a report citing corporate and market watchdog site Investorideas.com that is sure to feed into the hopes of many with eyes on hemp and cannabis products. [1]
Across the U.S. and Canada, which recently legalized hemp and marijuana, respectively, companies are swarming into the opening to be the first in their area or target market to serve newly-intrigued customers.
The report in the AP catalogues a number of companies in the U.S. and Canada but also around the globe that are delving deeply into the CBD market in new and exciting ways.
These updates are good to consider, but within the framework of a booming and much-hyped industry, shouldn’t be too surprising. For example, in past weeks Cowen & Co. projected in what they described as a “conservative” estimate that the CBD industry could reach the value of $16 billion in the U.S. by the year 2025. [2]
Still, the news is heartening. For instance, The Green Organic Dutchman Holdings Ltd. announced a partnership to become the first company to offer organically-certified CBD in Canada, the AP report said. [1]
Another is SOL Global Investment Corp., which the AP reported has promised to dedicate an upcoming purchase of almost 600 acres of agricultural space in Tennessee and Kentucky to the growth of hemp for CBD products.
Per the Associated Press:
“We may never see a high number of THC/cannabis products sold in grocery stores and pharmacies, but CBD products will certainly be hitting shelves near you soon, if they aren’t there already.”
Companies in the report weren’t limited to just the CBD oil tinctures and edibles many people familiar with the industry have come to see as the standard fare. For instance, Khiron Life Sciences Corp. is investing in the cosmetics industry with an emphasis on CBD, as cosmetics as a whole is headed to a valuation of over $130 billion in 2019. [1]
The AP refers to an investigative assessment by New Frontier Data group, another market watchdog. In its report, NFD claims that the market for CBD in America could triple in value in just the next three years. [3]
These signs from the predictors out there are promising, and there’s never been a better time to get into the cannabidiol business.
Luckily, interested investors and entrepreneurs have options. Nothing But Hemp, for instance, is a thriving brand operating in the Minnesota Twin Cities Metro which is currently open to franchise opportunities.
Franchisees can expect CBD industry expertise, internal inventory and leadership through a sturdy internal support system to address marketing and management strategies. Learn more about NBH’s franchise opportunities with the link below. [4]
Sources
[1] https://www.apnews.com/Globe%20Newswire/ae7170f4c804ad081b83bb2cd5707291
[2] https://www.nothingbuthemp.net/blog/new-projections-show-bright-future-for-cbd-markets
[3] https://newfrontierdata.com/marijuana-insights/u-s-hemp-cbd-market-to-triple-by-2022/
[4] https://www.nothingbuthemp.net/blog/nothing-but-hemp-continues-innovating-in-the-cbd-industry-with-new-franchise-opportunities
