- In 2017, Chinese hemp sales totaled $1.1 billion (USD), approaching 1/3 of the $3.1 billion global market, with sales forecasted to grow to $1.5 billion (up 36%) by 2020.
- In 2017, textiles accounted for about 3/4 of China's overall sales of $823 million (USD).
- Hemp-derived CBD accounted for Chinese sales of $53 million (USD) in 2017 but is forecasted to more than quadruple (by 4.3x, to $228 million) by 2020.
- Demand for CBD products in both Japan and South Korea – countries with high relative spending for wellness and cosmetics – could further catalyze demand for China's hemp-derived CBD.
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us September 13-14, 2022 at The Palmer House in Chicago, IL.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.