In 2018 something significant happened to the hemp industry: the passing of the Agriculture Improvement Act, better known as the 2018 Farm Bill.
The passing of the 2018 Farm Bill was one of the most revolutionary agriculture policy changes in recent history as many of the regulations around growing and selling hemp products were removed and, in turn, the hemp industry was set for a boom.
HEMP INDUSTRY GROWTH
Today, that industry boom is in full swing, with a reported 455% increase in acres of hemp grown from 2018 to 2019. If percentages fail to paint a clear picture for you, here’s another perspective, 78,176 acres of hemp were grown in the United States in 2018. That number jumped to a whopping 511,400 acres in 2019.
The hemp industry doesn’t appear to be seeing any slowdown since, as of today, the American hemp industry is worth a reported $5 billion with expectations to hit $23.7 billion by 2023.
While hemp is now being grown for various markets such as personal care products, textiles, food, industrial applications, and even supplements, hemp in many ways is making a major comeback thanks to cannabidiol (CBD).
CBD, trending in the health and wellness industry as the new hot product, is a compound extracted from the hemp plant that provides numerous benefits and comes in several forms such as oils, gummies, and creams.
With legislation revolving around hemp and, more specifically, hemp-derived CBD, many entrepreneurs are trying to get in at the ground level of the exciting industry.
But, since the industry is still in its infancy, many businesses are looking to develop and sell hemp or hemp-derived CBD products without the necessary knowledge, expertise, or experience to produce a successful business that will be around for the long run.
CREATE YOUR OWN CBD PRODUCTS
Luckily for the entrepreneurs aiming to create a successful CBD business that will pass the test of time, we at Wholesale Hemp Suppliers are known for our private-label and contract-manufacturing capabilities for everything CBD-related.
Our team of leading industry experts make developing and manufacturing high-quality CBD products a smooth process without all of the headaches and worries that come with creating a brand in an industry that requires extensive knowledge and experience. As a licensed manufacturer in Florida, you can put your trust in us to bring your products live!
LAUNCH YOUR CBD BUSINESS
Whether your goal is to bring CBD gummies, CBD tinctures, or CBD creams to the market, we’ve developed a straightforward creation process that allows us to take care of the legwork behind the scenes as you and your team focus on the bigger picture.
For more information on how to create your own CBD-product business in the fast-growing hemp industry, check out Wholesale Hemp Suppliers and get in touch!