At this point in time, with the global legalization of medical marijuana, its medical demand is growing rapidly. It is estimated that the global CBD output value will reach US$22 billion in 2022, a compound growth rate of 57% compared with 2019 (Source: Brightfield Group).
According to the use of CBD:
The global legalization of CBD is accelerating, setting off a wave of industrial hemp application. From a global perspective, there are relatively few drugs with hemp ingredients as raw materials, and only a few products in Europe and the United States are on the market;
According to information from the State Food and Drug Administration, there are no hemp-related drugs on the market in my country.
Since 2018, the US market has made rapid breakthroughs:
Driven by the medical market, the global CBD market is expanding rapidly. According to Brightfield Group, the global output value of CBD will reach US$22 billion in 2022, and the compound growth rate is expected to be as high as 57% compared with the market size of US$5.7 billion in 2019. With this round of global CBD legalization wave, the CBD market is gradually being activated.
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