328% Improve in U.S. Hemp Cultivation Acreage

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WASHINGTON–(Company WIRE)–

New Frontier Information Releases 2019 U.S. Hemp Study

New Frontier Information, the authority in information, analytics and company intelligence for the worldwide cannabis business, in collaboration with Vote Hemp, releases The U.S. Hemp Market place: 2019 State Rankings. The report examines the present state of hemp cultivation in the United States. Findings include things like evaluation of person market’s licensee landscape as effectively as predictions on the future of competitors in pricing.

“The 29 U.S. states reporting licensed hemp cultivation acreage total practically half a million acres in combined cultivation land location, which is a huge raise compared to 2018 figures of a total land location barely more than 100,000 acres. When there continues to be uncertainty and a healthful quantity of confusion about hemp cultivation for CBD production, it is clear that demand is nonetheless continuing to rise across the U.S.,” noted Giadha Aguirre de Carcer, New Frontier Information CEO and Founder. “As states challenge a lot more licenses, customer demand increases, and mass-marketplace retailers such as CVS and Walgreens continue to expand their personal solution offerings, we anticipate the FDA may perhaps be forced to offer additional regulatory clarifications sooner rather than later.”

Amongst the essential findings from the report:

  • At least 70% of the 2019 U.S. hemp harvest is intended for extract production
  • Colorado leads the nation in hemp cultivation and processing land location with more than 80,000 acres reported
  • Oregon, Kentucky, Tennessee and Montana lead in hemp system expansion efforts
  • Tennessee leads in total hemp licenses issued in 2019
  • California is poised to be the leading-making hemp state for each traditional and organic production as thousands of acres have currently been planted this year

To obtain and download The U.S. Hemp Market place: 2019 State Rankings, please pay a visit to: www.newfrontierdata.com/StateRankings.

About New Frontier Information:

New Frontier Information is an independent, technologies-driven analytics firm specializing in the cannabis business. It gives vetted information, actionable company intelligence and threat management options for investors, operators, researchers and policymakers. New Frontier Data’s reports and information have been cited in more than 80 nations about the globe to inform business leaders. Founded in 2014, New Frontier Information is headquartered in Washington, D.C. with added offices in Denver, CO, and London, UK.

New Frontier Information does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-connected policy and company choices by means of rigorous, challenge-neutral and complete evaluation of the legal cannabis business worldwide. For a lot more information and facts about New Frontier Information, please pay a visit to: https://www.NewFrontierData.com.

View supply version on businesswire.com: https://www.businesswire.com/news/household/20190925005565/en/

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