Hemp cultivators are under pressure to comply with the 2018 Hemp Farming Act which removed hemp from Schedule 1. The law allows industrial hemp cultivation, which some optimists have said could someday replace plastics, but strictly limits the THC content of the crop. These strict regulations have raised concerns producer compliance and the threat of federal penalties.
HIGH HOPES FOR FUTURE GROWTH
The challenges facing the cannabis/hemp industry have a lot of investors heading for the exits and many once-promising companies having to shut their doors, as has been the case any other time a hot market cools. It's just like the old adage with risk and reward. There is still a lot of risk in this industry but when you have that, you have the opportunity for some people to do very well.
Not everything is doom and gloom in the world of hemp. Some experts suggest the investor burnout may only be temporary, a bump in the road for a nascent industry struggling through unique legal and regulatory challenges.
Overall, the potential for growth is huge. Earlier this year New Frontier Data, a cannabis/hemp industry research firm, reported that legal sales of cannabis and related products in the United States topped $10 billion in 2018. According to their projections, the legal cannabis/hemp market is on track to hit $30 billion in 2023 and expand to $66.3 billion by 2025.
Projections at Northridge are less robust. Our Business Model is focused on education and gaining hand-in, low cost experience. Learning to navigate the terrain is more important than generating "soft" sales and incurring unreliable losses.