The Marijuana industry is relatively new in the marketplace and its revenue potential is continuing to grow at an unusual pace. The industry is projected to continue growing at staggering rates for every year in the near future. There is a particular category of this industry that produced larger growth than the rest of the industry: CBD (Cannabidiol) whose growth could be off the charts.
Cannabidiol oil is a natural botanical concentrate that is high in the compound CBD. It derives from the stalk and seed of both cannabis and hemp plants. However, hemp plants are considerably cheaper to grow than cannabis, making it the preferred crop choice for CBD extraction.
So the question is: how big will the CBD market become? A recent Brightfield Group report shows that the Cannabis industry is calling for year-over-year CBD product sales growth in the United States of 706% in 2019 to around $5 billion, and sales of $23.7 billion by 2023. Predictive economic studies reveal that by 2030 exports of medical cannabis could represent over $17 billion income in Colombia alone.
This is a good business opportunity that can’t be missed out! As these numbers continue to increase, so will the number of investors and people involved. Stock prices will likely increase as well, giving you an option to sell an investment you made in the CBD oil market today at a vastly inflated price in a few years. CBD oil is one of the best investments you can make right now, so it’s worth doing now if you have been thinking about it.