Hemp and CBD products legalization has created a sensation in the business world. There is no shop where you won’t find some kind products made of Cannabinoid and Hemp, i.e., clothes, cookies, animal feed, and chocolates, etc. In 2015 CBD and Hemp industry produced $220 million revenue and in 2016 Hemp alone managed to generate $170 million according to the experts it is expected that the Hemp and CBD industry will make billions of dollars in 2020-21. This news has to lead to many prominent corporations becoming interested in this industry example can be taken of Coca Cola company that are interested in creating Cannabinoid wellness drinks. The USA market has significantly benefited from the CBD and Hemp industry. The recent Animal Farm bill led to complete legalization of Hemp for which licenses are being granted along with that financial aid is also being provided to manufacturers. After the worldwide ban, the Hemp and CBD industry struggled a lot. However, the increase in demand and the popularity of different products led to the industry becoming popular once again. Read more about which type of cbd is for you.
Hemp is a durable plant that is used for different purposes. It does not need pesticide and is able to survive in the dry climate. Currently 810 hectares of Hemp is being cultivated in the U.K., which in comparison to the European cultivation is very low. If its cultivation is increased Hemp will generate more income for the farmers. Hemp biomass is often sold to various companies who are interested in making use of it. This also provides extra income to farmers as well. CBD is now being regarded as the medicine of the future. This led to pharmaceutical companies becoming interested example can be taken of Epidiolex which was developed by GW Pharmaceuticals a U.K based company. This medicine is currently being used for the treatment of Epilepsies it has managed to generate more than $345 million in the USA. This attracted the attention of the U.K government, which has led to steps being taken for the legalization of Epidiolex. Hemp is a nutritious crop that contains proteins and various vitamins if you eat it or add it in your meals it will provide many benefits. Hemp is especially beneficial for the heart.
Hemp-based food products such as Flour, cooking oil, salads, and many others have gained worldwide popularity, especially among the vegans. You can find such food at High street U.K. It is expected that by 2020 the global hemp food market will grow by 24%. A restaurant selling cannabis-infused food is going to be launched in Brighton soon. It will serve food made of cannabidiol oils along with desserts such as cookies, cakes and other will be made available as well. As a result of Hemp and CBD popularity, the beauty industry is also growing, according to the reports being generated skin industry alone is earning more than 11 billion dollars. The beauty industry is capitalizing on the natural benefits of Cannabidiol and Hemp. They contain antitoxins that refreshes the skin. The anti-aging component is also a huge factor in their rising popularity. Harvey Nicholas departmental store has introduced a new CBD skin care line which consists of products made by MGC Derma. It is an Australian pharmaceutical company that specializes in medicinal cannabis and has been producing cannabis-infused products. The U.K CBD and Hemp industry is booming and is generating more than 50 million pounds each year according to the data gathered so, far it is expected that the growth of the CBD market will increase by 700% and its value will go up to 2.1 Billion Dollars.
The data gathered by The Cannabis Trade association indicates that the use of the Cannabidiol has doubled over the years and the current statistics reveal that over 300,000 users exist in the U.K. The rise of the CBD has also led to restrictions being lifted government is now becoming less strict regarding the regulations. Coxall, a member of the Cannabis Trade Association, which is focused on creating awareness regarding the benefits of hemp and Cannabidiol, states that “Two years ago I was aware of about 20 CBD products, now there’s about 700, and the number is rising every day.” Coxall’s statement highlights how far the CBD and Hemp industry has grown.
So, if you are interested in becoming a part of this industry, we suggest you hurry up. At hemp2wellness you will find the latest CBD and Hemp products such as lotions, creams, capsules, and many others. You can also find a lot of useful and helpful information. I hope that this article was helpful and demonstrated what the future holds for the Hemp industry perfectly.