The State of Hemp & Cannabidiol

To better characterize the size of the U.S. hemp market, the Hemp Biz Journal studied sales and trends in seven major product categories and many more subcategories. We talked to industry thought leaders, manufacturers, government regulators, scientists, farmers and many others, conducting more than 125 interviews. We pulled import and export statistics, looked at industry data from associations and point-of-sale data from SPINS. HBJ studied market size and penetration rates for comparable industries such as natural and organic foods, supplements, organic textiles, natural and organic personal care products and the medical and adult-use cannabis industry. We attended the United Nations Business Forum and met with chief sustainability executives of multinational corporations, heads of banks and government leaders. Our mission: To provide the best “overview” of the U.S. hemp industry by analyzing hemp across global market trends, climate adaptation, value chains and the numerous consumer categories across the hemp industry. Through this research we defined the industry size, forecasted growth, identified key market challenges and opportunities, and ultimately provide the first comprehensive overview of each sector of the industry including genetics, seed, farming and cultivation, processing, industrial products, consumers goods and CBDs.

From this, we determined the most critical segment analysis is the emerging CBD industry currently representing an $85M market, and projected to grow from 17% of the overall hemp industry to 25% within four years. Research is underway for our next publication called the "CBD Report". Our research will address the critical issues facing the CBD industry including the FDA, regulations, consumer education and analyzing sales channels. The question business owners want to know is how do I safely sell my products and where are consumers buying it. The report will answer these in detail and will be presented for the first time at the conference.