Forbes profiles the success of Medical Marijuana, Inc. and our family of investment companies in recent article about CBD industry.
On Monday, Forbes ran an article exploring the rapid expansion of the worldwide cannabidiol (CBD) market, focusing on hemp-based CBD as the antithesis of the rising recreational marijuana market. Much of the attention surrounding the cannabis industry in recent years has fallen on CBD. Just one of over 85+ cannabinoids, CBD is found in high quantities in the hemp plant, a varietal of cannabis. There are those, both domestically and internationally, who see greater growth potential in the hemp industry, and specifically CBD hemp oil, than in medical or recreational marijuana, anticipating a multi-billion dollar boom in coming years.
Quoting a number of sources, the article’s author Debra Borchardt reveals a CBD market poised to explode in coming months and years. The Hemp Business Journal estimates that the CBD hemp oil market will grow to $450 million by 2020, seeing a 700 percent increase from 2016. Matt Karnes of Greenwave Advisors estimates even greater growth, measuring the entire possible CBD market to be nearly $3 billion by 2020.
This growth is tied to an increasing curiosity over CBD products. According to the article, a licensed cultivator in Southern California revealed that 38 percent of people polled said they wanted to learn more about CBD oil.
This increasing demand works well for Medical Marijuana, Inc., as our global CBD pipeline allows us to place our CBD hemp oil products into the hands of customers around the world at competitive prices.
The Forbes article identifies several Medical Marijuana, Inc. investment companies and brands by name, including AXIM® Biotechnologies, which is creating cannabinoid-based pharmaceuticals, and Kannaway®, a network sales company, and our Real Scientific Hemp Oil™, Dixie Botanicals®, and Rev!ve® lines of hemp oil products.