Hemp CBD Market Forecast

These days, at least 70 countries cultivate hemp for commercial or research purposes. The largest producers of hemp are currently China, France, Canada, USA and Chile. In 2023, hemp acreage in North America and the European Union countries totaled about 75,000 acres and 85,000 acres respectively, China – the world’s largest hemp fiber and seed producer – planted more than 340,000 acres of hemp, which put global acreage at about 520,000 acres. According to marketing analysis reports by Technavio, the global industrial hemp market size is set to reach $6.87 billion by 2027 with a CAGR of 17.1%.

Cannabidiol (CBD) is one of the numerous compounds found in the cannabis plant. CBD oil can be obtained from two different species of cannabinoids: marijuana and hemp, which come from the same plant species called Cannabis sativa. Hemp-based CBD oil products have a lower delta-9 tetrahydrocannabinol (THC) concentration, while marijuana-derived CBD oil products have a relatively high concentration of THC.  Therefor, marijuana-based CBD products can be used only when they are prescribed by doctors while hemp-based CBD oils do not normally require a prescription. Grand View Research estimates that the global hemp-derived CBD market size has increased to $4.3 billion in 2023 from $2.7 billion in 2022, and it is expected to grow at a CAGR of 15.8% from 2024 to 2030.

What is a Hemp CBD Business Plan Template

We offer “70% ready to go” professional Hemp CBD business plan templates for Word with Excel financial models and PowerPoint pitch decks. Upon request, we can also provide versions compatible with Google Apps G Suite. A business plan delivers an overview of your Hemp CBD business from initiation and outlines your plan for the next seven years. It explains your business goals, strategies for achieving them, and market analyses to support your plans. Our templates are completely open, editable and flexible, they can be used for any forecast time period and any business size. We also have a range of cannabis business plan templates at cannabusinessplans.com.

Types of Hemp CBD Business We Offer Templates for

You can find templates for any type of hemp CBD business, including but not limited to growing, drying, curing, extraction, manufacturing, distribution, retail, testing, transportation and more in any combination for vertically integrated or monobusinesses. If you could not find a suitable template for your business, please contact us. All products (business plan template, financial model, pitch deck template) can also be purchased separately or in any combination, e.g. Word document + PowerPoint presentation and so on.

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Hemp CBD Business Plan FAQs

How profitable is a CBD business?

Average sales per square foot for a hemp/CBD products pharmacy is about $700-$1,000. Gross profit is a direct measure of a store’s profitability. A higher margin indicates that more of the revenue is retained as profit after covering the cost of acquiring products. For a typical retail independent CBD store, gross retail margins should be at least 40%, which could result in a net profit of approximately 12%. How Much Does it Cost to Open a CBD Store? 

How do I start a hemp business?

To produce hemp, you must first obtain a license or permit through your local hemp program. In the US, if your state or tribe has an approved plan or is in the process of developing a plan, you must apply for and receive a license or permit under its hemp program, otherwise you can apply for a USDA hemp production license. How much does it cost to grow hemp?