- The fast-growing hemp market is driving intense competition, with innovative cultivation practices serving as a major factor of differentiation
- Hemptown’s cultivation methodology, paired with a genetic modification advantage, is expected to lead to increased yields and lower costs
- The company is scaling up operations to meet rising demand; it anticipates up to $200 million in revenue by 2020
Legislative changes in the U.S. and other parts of the world, as well as changing consumer attitudes, are contributing to the rapid expansion of the hemp products market. The industrial hemp market is anticipated to grow at a CAGR of 18.3 percent through 2027 (http://nnw.fm/9kAQC). Market research indicates that the CBD segment is the one that will grow the most, with some forecasts suggesting that that the CBD product market could reach $20 billion by 2024 (http://nnw.fm/7GRTs). Combined with THC products, this market is on course to reach more than $45 billion by 2024.
Such lucrative forecasts are contributing to the establishment of numerous producers and CBD companies. To be successful, however, these enterprises need some…
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