| | Global interest in cannabis has governments, companies racing to dominate supply chain
Hemp, fittingly, is now growing "like a weed" around the globe. By the end of 2017, the global hemp trade was valued at $3.1 billion and is expected to nearly double that to an estimated $5.7 billion by 2020, according to New Frontier Data.
It’s hard to think of another crop that increased production that fast, and even as the industry is growing like a weed, questions around how to build a supply chain that big and that fast are growing even quicker.
And while the rising wave of CBD awareness is a U.S. story, on a global scale the picture is more complicated.
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| | The Analyst’s Take: Prebiotic supplements grow more than 100 percent in 2018
Prebiotic supplements still represent a small category; they were at $96.1 million in annual sales in 2018, compared with probiotic supplements at $2 billion. However, prebiotics represent a huge growth opportunity, with three consecutive years of doubling sales and growth of more than 120 percent.
Learn more and view a complimentary chart from the Supplement Business Report here.
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