Growth in the CBD Industry: Another Company Shifts From Marijuana Production to CBD

A Canadian Marijuana company just announced its plans on Tuesday to shift towards extracting and processing hemp biomass in order to produce CBD concentrates. These CBD concentrates would be supplied to companies who would then sell products made using the concentrates. This Canadian company is based out of Calgary and has plans to buy 300,000 pounds of hemp. The company also has goals to produce low-cost CBD concentrates in order to rapidly expand the market. This decision along with similar decisions by other companies demonstrates the continual growth occurring in the CBD market. Many companies are realizing the potential that the industry holds and want to start supplying CBD as soon as possible.

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