- The lucrative U.S. CBD market is estimated to reach $5 billion this year, marking an impressive 706 percent increase from 2018
- The growing trend is expected to continue, with industry forecasts putting CBD’s CAGR at 107 percent to reach $23.7 billion by 2023
- Wildflower Brands is well positioned to take advantage of this trend and expand its market presence domestically and internationally
- The company’s branded premium products are currently available at 600 locations
The cannabis industry is historically a newcomer to global markets, yet legal sales worldwide reached $11 billion in 2018 from only $3.4 billion 2014 (http://cnw.fm/JNd90). The industry’s outlook continues to improve and exponential growth is anticipated, with a projected increase every year, to potentially reach $75 billion by 2030 (http://cnw.fm/YZ0Ib).
One segment of the industry, however, is set to outperform all others – CBD (cannabidiol). Investors are becoming increasingly aware of CBD’s potential and expected growth. This cannabinoid can be extracted from both the cannabis and the hemp plant, but since hemp plants are considerably cheaper to grow, hemp is typically the preferred crop choice for extraction, which can explain…
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