What's Happening in the Hemp Market - New Hope
“No one is going to give you a permission slip to change the world,” said Josh Hendrix, business development manager for CV Sciences, the leading CBD brand at retail. “There is no road map. No one has created a hemp-derived CBD market. We’re all creating disruption and taking on risk.”
What does disruption look like? CBD alone has gone from a $93 million market in 2015 to $132 million in 2016 and is looking like at least $175 million—and perhaps as high as $200 million—by the end of 2017, according to Hemp Business Journal. And the U.S. hemp industry as a whole is estimated to grow over the next five years at 22 percent per year on average, and a whopping 360 percent at mass market retail. The hemp-based product market is estimated to be a $1.8 billion concern by 2020.