LAS VEGAS, NV, Dec. 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Hemp, Inc. (OTC PINK: HEMP) is excited to share the latest economic update on the industrial hemp industry’s growth outlook over the next 5 years, as 2022 comes to a close. According to Research and Markets “Global Hemp Market by Type” report, the industrial hemp industry is expected to have a compound annual growth rate of 21.6% by 2027, equating to $18.1 billion dollars. This particular report analyzed the many applications of hemp as a textile, food item, and construction material, to name a few and cited the mass success hemp has had during 2022, making it a very socially-equitable industry.
Why has it become socially equitable? As another report eloquently stated, “Industrial hemp is a cultivar of the plant Cannabis sativa (marijuana) that is utilized for a range of industrial and personal purposes. Hemp fiber, hemp oil, and hemp seeds are some of hemp’s by-products. Because of their high nutritional content, antioxidant, and anti-microbial qualities, these biodegradable compounds are widely employed in a variety of industries, including personal care products, textiles, animal feed, and others. Industrial hemp, as a fast-growing plant, provides a sustainable and renewable raw material for the manufacture of a variety of products, including fuel, plastic, and paper.” (Source: Facts and Finders)
Hemp-based products are environmentally friendly, renewable, and connected with less toxic ways of production. Increased consumer knowledge of this has boosted the market’s growth. And with demand compounding, sources of revenue are rapidly unfolding creating huge, lucrative opportunities for established companies such as Hemp, Inc. That means more market opportunities and joint ventures, increased product sales, and the possibility of more manufacturing opportunities that did not widely exist a few years ago.
As one of the pioneers in the hemp industry, Hemp, Inc.’s foothold runs 14 years deep. The Company has facilities on the east and west coast and offers the broadest range of industrial hemp products. These products include Spill-Be-Gone (an oil spill cleanup product made from the core particles and powder of the kenaf plant); DrillWall (a non-toxic, biodegradable drilling fluid additive used in oilfield drilling applications); and a full line of CBD/CBG/CBN that includes CBD-CBG Topical Pain Relief Roll-on, CBD/CBG Natural Coffee Enhancers, CBD/CBG Tinctures, CBDa/CBGa/CBD/CBG/CBN Capsules, and CBG Pre-rolls. Hemp, Inc. also has the means to produce hempcrete, horse bedding, hemp bio-plastics, and more. For more information on Hemp, Inc.’s products, click here.
The industry has come a long way since industrial hemp was legalized on the federal level in 2018. Subsequently, states have approved their own laws and regulations for hemp production in order to capitalize on this burgeoning industry. New York, for example, just passed Senate Bill S8496 which promotes greater use of New York-grown industrial hemp by businesses in New York. It also instructs the Commissioner of Agriculture & Markets, in collaboration with the Urban Development Corporation, the NYS Hemp Workgroup, and industry representatives to develop a plan to expand market opportunities for industrial hemp that would increase its use in manufacturing and construction materials, including packaging, textiles, and hempcrete.
“I’m proud that my hemp bill has been signed into law, directing our state to seek strategic collaborations to help us usher in a new era of manufacturing power, product creation, and rural economic development around an industry that is nearly untapped around the world,” said Senator Hinchey. If you want to know how your State is tapping into this nearly untapped industry, visit VoteHemp, to find out.
Hemp, Inc. has taken full advantage of State laws, where applicable, to enhance its line of CBD/CBG/CBN products. The Company uses pharmaceutical-grade beta-cyclodextrin (a carbohydrate used during the manufacturing process) which is combined with CBD and CBG for rapid absorption and uptake. Therefore, the Company’s CBD, CBDA, CBG, CBGA, and CBN product lines are highly potent therapeutic doses that have received rave reviews. To order these amazing products, click here.
As the end of the year draws near, Hemp, Inc. would like to take this opportunity to extend a heartfelt thank you to its shareholders and customers for their continued support and wish you a wonderful holiday season and a happy new year.
About Hemp, Inc.
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 85,000-square-foot facility on over 9 acres in Spring Hope, N.C. is one of the largest industrial multipurpose hemp processing facilities in North America. Its mission of providing 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 may be the salvation in retooling America for greener, more sustainable domestic manufacturing.
To catch up with the latest news on Hemp, Inc., be sure to check out:
Hemp, Inc. Reports: Marijuana-Cannabidiol (CBD) Bill Signals New Era in Federal Cannabis Policy
Hemp Inc.’s Year to Date Sales Increase 315% Over Last Year
Hemp Inc. Reports Third Quarter Results and Removal of “Yield” Sign
Hemp Inc. Reveals Stunning Results of its Hemp Research
Hemp Inc. Applauds President Biden’s Plan to Pardon People Convicted of Simple Marijuana Possession
Hempcrete Approved for U.S. Residential Construction
Hemp Inc. See Significant Increase in Revenue Over the Last 3 Quarters
Global Hemp Fiber Market Rising at an Annual Rate of 6.9%
Hemp, Inc. Offers CBD-CBG Topical Pain Relief Roll-On
Hemp Inc.’s CBDA and CBGA Products on Sale Now (July 19, 2022)
Hemp Inc.’s Chief Visionary Consultant Bruce Perlowin talks with Stock Day podcast about
Hemp Inc.’s super potent line of CBD/CBG/CBN Products (July 7, 2022)
Hemp, Inc. Releases New High Potency CBD/CBG Vanilla Flavored Coffee Enhancer (June 9, 2022)
Hemp, Inc.’s King of Hemp CBD-CBG-CBN Natural Sleep Aid Capsules in Stock and On Sale (May 26, 2022)
King of Hemp Natural and Vanilla-Flavored CBD/CBG “Super” Tinctures Now in Stock (May 12, 2022)
The Company will continue to keep its shareholders up to date on all pertinent material events, product releases, production plans, and inventory availability. Those interested in distributing on a large-scale basis should email sales@hempinc.com or call 877-436-7564 for more information. The entire product line includes tinctures, gummies, capsules, and edibles in a variety of sizes, potencies, flavors, and formulas with a future focus on healthy foods for healthy living.
Forward-Looking Statements
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”. Financials for Hemp, Inc. are listed on the OTC Exchange. More information can also be found on the Hemp, Inc. website by visiting www.hempinc.com/hemp-financial-disclosures/. The 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 involve risks and uncertainties.
Contact: Hemp, Inc.
ir@hempinc.com / (855) 436-7688
Sales:(877) 436-7564
