Op-Ed: Why Cannabis/CBD Is One Of The Fastest Growing Categories Of Our Lifetime
Jeffrey Hill, CEO of Hill-3 Investments, explains the enormous potential within the cannabis and CBD space, and how increasing understanding of its use across health and fitness industries combined with its financial impact at state and federals is driving its meteoric growth
As many of you know, I run Hill-3 Investments, a family office that focuses on three verticals: Cannabis, Fitness and Healthcare. What has become very clear to me is that all three of these businesses are now morphing into one. The driving force behind this: the medicinal value of cannabis/CBD and the incredible growth these categories are experiencing and will continue to experience going forward.
The legal U.S. cannabis industry (not to mention the stunning growth in many other parts of the world) is experiencing incredible momentum. Combined retail sales of cannabis products were estimated to be $8.5 billion in 2017, with most experts conservatively projecting 21% CAGR through 2022 equating to a $22 billion business, and if taken it out to 2030, $80-100 billion is very likely within reach. 31 states have legalized cannabis for medicinal and or recreational use. Several current states are pursuing additional ballot initiatives in the upcoming election, which will continue this momentum.