Cannabis, CBD, and Hemp are controversial. The one thing everyone can agree with is the profitability. For entrepreneurs the cannabis, cbd, and hemp industry is a once in a lifetime opportunity.
The Women’s Cannabis Chamber goal is to move women beyond empowerment into powerful result driven career strategies, CEO positions, and business ownership.
The global legal marijuana market size is expected to reach USD 66.3 billion by the end of 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at
a CAGR of 23.9% during the forecast period. Increasing legalization and use of marijuana in medical as well as recreational applications is expected to promote the growth.
Growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions, such as cancer, Parkinson’s disease, Alzheimer’s disease, arthritis, and other neurological conditions is anticipated to drive demand for medical marijuana in the forthcoming years. Increasing need for pain management therapies and growing disease burden of chronic pain among elders is also expected to boost demand. Grand View Research
On June 12, 2019 the state announced that it surpassed $1 billion in total cannabis-related revenue, the first state in the country to hit that milestone. Companies also have made more than $6.5 billion in sales over the last five years, with April and May of this year the highest-grossing months since legalization. CNBC
U.S. hemp sales could increase as much as $25 million in 2020 and by more than $100 million by 2022, according to new estimates by the U.S. Department of Agriculture (USDA).
CBD and Hemp-based oil offers unprecedented business opportunities. Products containing cbd, hemp oil, and hemp seeds can be found in Krogers, CVS Health, Walgreens, Ultra Beauty, Petco and Urban Outfitters, to name a few. The list of major beauty brands adding cbd infused products to their lines is extensive.
An excerpt from a Bloomberg article by journalists Craig Giammona and Kristine Owram hit the nail on the head: “The growing demand for CBD dovetails with Americans’ long-standing appetite for super foods and ingredients that promote wellness. In a divided and anxious nation, moreover, many people are willing to try products that claim to ease insomnia and stress. CBD is following a path already traveled by tumeric, acai berries, ginkgo biloba and so on. People tell each other the stuff works, word travels, and the cash registers keep ringing.” Green Entrepreneur
In 2018, sales of CBD hit nearly $600 million, and they’re projected to grow to $22 billion in just a few years more. This is the opportune time to open a cbd or hemp company. As more entrepreneurs move into the marketplace the more difficult it will become to find your audience and establish your brand.