Cannabis Cultivation Trends and Markets
United States 2019 hemp cultivation data and analytics
A recent report by Brightfield Group confirms that United States is now the global market leader in the cultivation of industrial hemp for manufacture into CBD medicine.
The report reveals that the United States derived CBD market will exceed $23 billion by 2023. These numbers indicate that cultivation of hemp and high CBD grade cannabis will Skyrocket in the coming years.
There are estimated 285,000 acres of hemp plants in United States under cultivation in 2019 which is an increase from 78,000 acres in 2018.
The three industry leader in the cultivation of industrial hemp in the 2019 year with over 1 million total acres planted are the United States, Canada and China.
Of all the cultivated land for hemp in the United States, nearly 90% is anticipated to be used for manufacturing CBD products.
What is the anticipated size of the hip cultivation industry and how will it grow?
According to the Brightfield report annual growth rate of 75 per cent per year until 2023. This cultivation rates are anticipated to yield up to 2,700,000 acres are planted for hemp.
The report indicates that by 2023 United States reach US$23 billion.
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Whether you decide you want to trade in cannabis shares CFDs, there are a variety of steps to consider before opening your first position:
Understand the different types of cannabis products
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