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CBD Market Growth Larger Than Expected Multi-billion Dollar Industry

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PALM BEACH, Florida, May 21, 2019 /FinancialNewsMedia.com — A recent industry report on the future of the CBD market, had higher than expected revenue figures than expected. 

An article focusing on northeastern U.S said: “Other owners of tens of thousands of acres of preserved agricultural land are betting on a bill that’s working its way through the state Legislature that will allow them to join a business that’s expected to be worth $22 billion by 2022.

The demand for CBD products is exploding. At the moment the demand is far outpacing the supply,” said Heather Darby, a hemp expert at the University of Vermont Extension who has advised agricultural officials and prospective hemp cultivators in Massachusetts. “Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres… About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm.

With the recent onslaught of celebrity endorsements including PGA star Bubba Watson, actress Mandy Moore, NFL/NBA/NHL/MLB players, Kim Khardashian and more.. the demand has surged to astronomical proportions. Vineyard owners are converting to hemp to cash in, tobacco farmers are doing the same the green rush is definitely on and popping!

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