During the upcoming decade, the CBD (cannabidiol) market will represent the most appealing potential for business growth. Last year, California was the biggest CBD market in the U.S., where the sales made up almost $730 million. If this market is what you’re interested in and need the most secure and cheapest CBD merchant account for your business, you’re at the right place.
CBD Merchant Account & Market
Many U.S.- and Canada-based cannabis companies are among the biggest ones in the countries. The CBD space is turning into a more profitable market offering a mainstream household solution. Since March, the Marijuana Index has risen by 156.5%.
Let’s see what some companies in the field are saying. The latest financial data based on quarterly estimates of one of these companies showed it’d received $21.4M in overall sales. This made up an increase of 389.9%, as compared to the same comparable terms in 2019.
The same data provided by another company revealed $10.6M in overall sales, which was a 32.2% rise, as compared to the same comparable terms in 2019.
If you’re a CBD selling merchant trying to forge ahead with the help of the best CBD processing services, shop around to find a respectable merchant processor in the high risk field. With a true payments expert dedicated to offering the safest and cheapest high risk CBD merchant account in the space, you can be sure to reach tangible results.
Developments in the U.S. CBD Space
Consumer sales of CBD in the country are forecast to account for nearly $1.8 billion by 2022. The legal cannabis sales are anticipated to reach $23 billion in 2025.
The U.S. House of Representatives has recently introduced the so-called H.R. 8319 bill with a provision enabling hemp growers to go on with their activity under their pilot programs through September of 2021. Thus, the interim period is being extended by almost a year.
So, the CBD market is getting more and more appealing to people worldwide by offering a large variety of products as treatments for chronic pain, anxiety, and depression. It’s no surprise that the CBD retail industry is moving forward fast and turning into a more lucrative space for many interested in starting a business. To launch a CBD or marijuana business or further grow the existing one, work only with a respectable high risk payment specialist in the country.
Author Bio:- Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that provides the safest and cheapest CBD merchant account in the space. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.