The global hemp market is about to take on new life
As cannabidiol (CBD) continues to gain recognition on a global scale, some analysts predict that it could outpace marijuana or recreational cannabis. Estimates put a global market of CBD at around $22 billion by 2022 and this is great news for cannabis companies in North America. These are poised to be the world leaders in imports and exports of hemp and hemp-related products, due to the ability to mass produce and the large consumer base upon which the industry can build.
An article from Kush magazine explains, “At the present date, importation of Hemp products consists mostly of CBD isolate (because) CBD isolate is a price dense product. When considering the S&H costs of moving a product, something of substantial size like biomass comes with logistical challenges. In the future, (they) believe that there will be two main markets for exportation, CBD isolate and CBD distillate due to the high value density of CBD. This is because the USA is poised to become an agricultural power in Hemp, and industrialization will create an opportunity for the USA to become a worldwide hub for CBD. While flower quality Hemp will still be an export, the size of this market will be substantially smaller.”
Several companies are already deeply entrenched in new deals to fuel the growth. Apart from the large names heard every day, such as Aurora and Canopy, other companies are rapidly gaining strength. Crop Infrastructure Corp. announced yesterday that it had entered into an agreement with World Farms Corp. that will see the company divest its interests in Crop Jamaica, as well as XHemplar in Italy, for around $1.6 million in World Farms equity.
Aphria also recently announced that it had inked a deal with Manna Molecular to produce and sell the latter’s cannabis oil transdermal patches. That deal will prove to be a vital piece in the medical marijuana puzzle for years to come.
Green Organic Dutchman Holdings, which is partnered with Epican Medicinals Ltd. out of Jamaica, is expanding its cultivation efforts and opening new retail dispensaries in the country. Green Organic’s CEO and director, Brian Athaide, states, “We will accelerate production to meet growing demand within Jamaica and export product through TGOD’s distribution channels in Mexico and beyond.”
The marijuana industry is only barely scratching the surface of what is possible and what is to come. As the world continues to open its eyes to the true benefits of marijuana, we are on the cusp of an entirely new era of commerce unlike anything seen before.