TLRY Brands - USA Operations BUSINESS
Sales Of Hemp-Derived Cannabinoids Like CBD
Outpace Legal Marijuana And Are On Par With
Craft Beer, Report Finds
"For context, hemp-derived cannabinoid sales nationally were greater than total legal sales of medical and adult-use cannabis in 2022,” it says. With most states having already legalized marijuana in some form, that may come as a surprise.
Notably, the hemp-based cannabinoid market also handily competes with the far more established craft beer industry. The national total for craft beer sales was $28.4 billion in 2022, the same amount as hemp-derived cannabis products, according to the American Beer Association.
Currently, the total demand for hemp-derived cannabinoids is valued in excess of $28 billion and supports the employment of 328,000 workers, who earn $13 billion in wages. Overall, the total economic impact of the hemp-derived cannabinoid industry on the U.S. economy is in excess of $79 billion,” Whitney Economics says. “While they may seem large, these estimates are actually conservative, because they do not account for demand and employment from gas stations, grocery stores and convenience stores.”
https://www.marijuanamoment.net/sales-of-hemp-derived-cannabinoids-like-cbd-outpace-legal-marijuana-and-are-on-par-with-craft-beer-report-finds/#google_vignette