Report: U.S. Hemp Industry To Hit $6.9B By 2025

Hemp Industry Daily recently published its annual “Hemp & CBD Industry Factbook,” a guide to the often-confusing and fast-moving hemp industry.

The third edition, which includes 51 new charts providing insights into the hemp market and its complexities, combines exhaustive reporting with in-depth market data from agriculture regulators and Nielsen Global Direct.

“The 2018 Farm Bill promised one set of rules for the U.S. hemp industry to replace a patchwork of state regulations," editor Kristen Nichols told Benzinga. "But it’s a promise that remains elusive more than two years later."

Hemp operators started the year “waiting for the main national regulators of hemp and hemp derivatives—the U.S. Department of Agriculture and the U.S. Food and Drug Administration—to establish a single set of operating instructions for growing low-THC cannabis and bringing it legally to market,” she added.

A ~$7 Billion Industry

According to the “2021 Hemp & CBD Industry Factbook,” the U.S. hemp industry could triple its size in the next 5 years, surging from $1.9 billion in annual sales in 2020, to $6.9 Billion in 2025.

The report also include information on:

• The hemp supply chain, from the fields where growers decide which varieties of hemp to grow, to the manufacturers turning hemp biomass intro a dizzying variety of products, to the retailers who bring home hemp’s promise by showing global consumers how hemp and its products can improve their lives.
• State-by-state licensing and the competitive landscape.
• Cultivators, products, retail and investments.
• Benchmarks and wholesale prices.

Check out the full report here.