New Report Shows Hemp Derivatives Market Expanding Due to Global Increase in Cultivation and Consumer Awareness
Hemp, Inc. positioned to capitalize on growth in the expanding worldwide market for hemp derivatives
LAS VEGAS, Sept. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp, Inc. (OTC PINK: HEMP), a leader in the industrial hemp market, has continued to respond to the rising popularity of hemp with a variety of new market initiatives, including a number of products utilizing hemp derivatives.
Last week, a new market report showed how much growth is projected for hemp derivatives in the next seven years. The report, released by leading market research firm The Insight Partners, found that the hemp derivative market is expected to be just under $21 billion by 2028. For comparison, the same market was estimated at $4.5 billion in 2019.
“Hemp Derivatives Market to 2028 – Global Analysis and Forecast – By Type and Application” found hemp derivative markets will continue to experience steady growth in the U.S. and around the world. This 163-page report forecasts 19.7% CAGR through 2028 for the hemp derivatives market.
Two of the contributing growth factors included an increase in the worldwide cultivation of hemp and an increase in awareness about health benefits of hemp derivatives. The global COVID-19 pandemic also played a role, as researchers found that consumers are increasingly focused on health and wellness. “The pandemic helped to develop awareness and interest in the medical sector of hemp,” according to a news release about the report.
The report offered its analysis by classifying the industry into four derivative market types:
· Hemp CBD oil
· Seed oil
· Hemp fiber
The market for hemp CBD oil grew at the highest rate of all hemp derivative markets in 2021.
The report also offered insight into the hemp derivative market by application:
· Food and beverage
· Pharmaceutical and nutraceutical
· Personal care
The Insight Partners (TIP) provides various industries with research content that includes information about market sizing and competitive landscapes along with company analyses and geographic/regional analysis. “Hemp Derivatives Market to 2028 – Global Analysis and Forecast – By Type and Application” was published by TIP at the end of August 2021.
Hemp, Inc. has the largest industrial multipurpose hemp processing facility in North America, an 85,000-square foot facility in Spring Hope, N.C.
With more than 10 years of experience in growing and processing hemp in North America, Hemp, Inc. has an established network of industry professionals in every segment of the industrial hemp industry.
Hemp, Inc.’s mission to provide green solutions that help make the world a better place continues to flourish as the company advances an ever-growing portfolio of revenue- and value-generating synergistic businesses.
Hemp, Inc. is also focused on marketing and is currently negotiating with a network marketing company to launch several new products for different niche markets. Digital marketing campaigns are in the works including planning for display booths at all the concerts and events at the Veteran Village Kins Communities.
The company is also selling directly to retail stores as well as distributing through all the King of Hemp Stores opening around America this year. Online distributors such as NaturalExposureCBD.com is also carrying the products.
The company recently added its second brand (Billy Hayes) in the King of Hemp® product line which already consists of Bubba Kush hemp; CBD Pre-rolls, Fortified CBD Pre-rolls, CBD and CBG Caviar/Moon Rocks; and Diamonds (which are 96%-98.7% CBD, the only product like this in the marketplace today).
According to Jim Hancock, CEO of Hemp Inc., one of its distributors is selling a limited number of signed and numbered Billy Hayes CBG pre-rolls as a collector’s item for $100 each. Those interested in being the first to collect this “pirate treasure” should click here.
There’s also a signed (by Bruce Perlowin) and numbered complete set of King of Hemp® CBD pre-rolls. (To hear the Bruce Perlowin theme song, click here.) The third in the series will be the Notorious Smith Brothers (famous smugglers from South Florida) to be released at a later date.
The Company’s website for its King of Hemp® line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp.
The tinctures, as well as all CBD products, contain 0.3% or less THC and are compliant with the 2018 Farm Bill.
To learn more, go to the King of Hemp® website, here.
WHAT IS HEMP, INC.?
What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials. All current information can be found on www.hempinc.com/hemp-financial-disclosures/.
This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.
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