Thanks to a recent court ruling allowing Texans to legally purchase smokable hemp, the state will be able to claim its share of an economic market worth up to $400 million, according to a report from Hemp Industry Daily.
Citing a research from analytics giant Nielsen IQ, the online trade publication reports that the U.S. smokable hemp market is likely to reach $300 million to $400 million by 2025. That projection was made in 2020, while Texas still had a ban on such products.
Earlier this month, a Texas appeals court ruled that state regulators can't stop smokeable hemp products from being sold inside the state. However, Texas authorities can still can block those products from being manufactured here.
That means Texans can buy smokable hemp flower and hemp-derived CBD vaping oils legally, as long as they're made across state lines.
“[The appeals court] ruling is a major win for Texas’ hemp industry, and may set a new standard in similar cases across the country,” Zachary Maxwell, president of Texas Hemp Growers, said in a statement provided to Hemp Industry Daily.
Last year, the Lone Star State was home to 1,103 hemp growers and 71 licensed hemp processors, according to the 2021 Hemp & CBD Industry Factbook.
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