U.S. Hemp Sales May Reach $500M This Year

U.S. citizens are expected to purchase up to $500 million worth of hemp products during 2015, a preliminary analysis by the Boulder-based Hemp Business Journal recently revealed.

Americans bought $400 million in such products during 2014, indicating a rapid expansion (25% over one year) in the demand for hemp-based products. Items purchased range from simple clothing and cosmetics to construction supplies made from hemp, commonly known as “hempcrete.”

The vast majority of these products have been made using imported hemp — though American hemp crops are becoming increasingly more common, particularly in Colorado, Tennessee, and Kentucky. At least in Colorado, the majority of hemp harvests are being used to fuel the nationa’s growing demand for hemp-based CBD products, which are expected to raise about $85 million worth of sales in 2015.

Check out the full article at The Daily Camera for more information.

Photo Credit: Mike Mozart

 

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