CanopyBoulder-backed Hemp Business Journal provides data, market intelligence and strategic information on the domestic hemp industry. Boulder paper Daily Camera shared commentary from founder Sean Murphy and reported:
Sales of hemp products will reach $500 million nationwide in 2015, according to a preliminary analysis by the Boulder-based Hemp Business Journal.
That’s up 25 percent over 2014, when Americans bought about $400 million worth of such hemp-based products as clothing, cosmetics and building materials, the majority of which were imported into the U.S.
Murphy pointed to the demand for CBD as driving the growth, suggesting that it accounts for $85mm or 17% of the hemp market. Alexis Korybut of CBDRx believes that the data understates the reality.
Read Shay Castle’s “Boulder Journal: U.S. hemp sales will reach $500M in 2015”: http://www.dailycamera.com/boulder-business/ci_29140621/boulder-journal-u-s-hemp-sales-will-reach