Just the Beginning NEW YORK, September 5, 2017 /PRNewswire/ --
According to a report by Forbes, a new report by Brightfield Group projects that the hemp-derived cannabidiol (CBD) will be a billion-dollar market in just three years. Brightfield estimates that hemp CBD sales have crossed $170 million in 2016. The company predicts a strong 55% compound annual growth rate which will increase the market above the billion-dollar mark. CBD made from hemp contains a very small amount of THC, which eliminates the psychoactive affects usually associated with cannabis products. CBD products are mostly used for medical purposes. Chineseinvestors.com, Inc. (OTC: CIIX), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC), American Cannabis Company, Inc. (OTC: AMMJ), MassRoots, Inc. (OTC: MSRT).
"One of the most surprising things we found during this research was how many companies are currently operating in the space, and how few of them are generating significant revenue," said Bethany Gomez, the Director of Research at Brightfield Group. "Essentially everyone is trying to do hemp, but only a handful are doing it well. It's seen as easy because it can be sold online but, with restrictions on traditional marketing, it is very difficult to connect with your core consumer and even communicate why they need your product," Forbes reported.