- The rising global popularity of cannabidiol as a wellness product is leading market forecasts of revenues up to $22 billion by 2022 and $50 billion or more by the end of the next decade
- The market optimism is fueling hopes for ancillary market players as well, such as hydroponics equipment supplier Sugarmade Inc.
- Sugarmade announced this month that it will enter the hemp CBD extraction equipment market, drawing on access to advanced Chinese extraction technologies
The health and wellness market sector for cannabidiol (CBD) products continues to grow at such a pace that analysts at the Brightfield Group predict that revenues could reach $22 billion per year by 2022 and, per various Wall Street estimates, approach $50 billion or even $75 billion by 2029-30, as noted in a media report carried by Nasdaq (http://nnw.fm/Lev70).
The potency of CBD’s sales estimates are encouraging to Sugarmade Inc. (OTCQB: SGMD), which announced this month that it is expanding on its hydroponics supply model for the agriculture industry to enter the hemp extraction equipment and…
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://nnw.fm/SUGAR
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