LAS VEGAS, NV, Feb. 13, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Hemp, Inc. (OTC:HEMP) was profiled in a new report published by Allied Market Research, titled, “Industrial Hemp Market by Type, Application, and Source: Opportunity Analysis and Industry Forecast, 2021–2027,” as one of the key players in the industrial hemp industry… an industry projected to reach $18.6 billion by 2027, on a global scale. Driven by sustainable growth and other diverse applications, the industrial hemp market is expected to retain its dominance throughout the forecast period.
Specifically, the report segmented the market based on type, application, source, and region. Type included hemp seed, hemp oil, hemp fiber and others. Application included food and beverages, textiles, personal care products, pharmaceuticals and others. Source is categorized into conventional and organic. Region included North America, Europe, Asia-Pacific, and LAMEA. Key findings were as follows:
· By type, the hemp oil segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
· By application, the personal care products segment accounted for highest share in the industrial hemp market growth in 2019, and is projected to grow at a CAGR of 19.6% from 2021 to 2027.
· By source, the conventional segment led the global demand in 2019, and is expected to retain its dominance throughout the industrial hemp market forecast period.
· By region, Asia-Pacific accounted for highest industrial hemp market share in 2019, and is expected to grow at a CAGR of 20.4%.
Always a step above the rest, Hemp, Inc. continues to be featured as one of the major key players in industry-wide hemp market reports. Coupled with an invaluable roster of connections with hemp manufacturers and vendors across the country and abroad, the Company expects to see meteoric growth curves on a domestic and international scale as the industry continues to grow.
Through its e-portal (www.hempinc.com), the Company’s hemp-derived products are poised to capture a large share of the marketplace on a global scale and to play a vital role in maintaining good health and well-being… 2 significant growth factors of the CBD market. The Company’s product line contains CBD, CBDA, CBG, CBGA, and CBN (non-psychoactive compounds found in cannabis plants). These are active ingredients in cannabis that are derived from the hemp plant, which is widely known for pain relief, relaxation, and anxiety relief. A recipe is only as good as its ingredients and how those ingredients are blended.
Hemp, Inc. is the only company in America that uses pharmaceutical-grade beta-cyclodextrin (a carbohydrate used during the manufacturing process) which is combined with all the cannabinoids for rapid absorption and uptake. The Company’s CBD, CBDA, CBG, CBGA, and CBN product lines are highly potent therapeutic doses that have received rave reviews.
Hemp, Inc. has also pushed the boundaries with its CBD/CBG coffee enhancer. This powerhouse product is super potent, absorbs rapidly in coffee, and is 4 times more potent (at a fraction of the price) than other hemp-derived coffee enhancers currently on the market. Its high-quality ingredient combination offers 30 servings per bottle and contains a total of 10,000mg of cannabinoids (7,500mg CBD and 2,500mg CBG) in an MCT oil base. Per serving, that’s 250mg CBD and 83mg CBG remarkably mixed in a wonderfully rich cup of coffee.
The CBD/CBG coffee enhancer comes in plain (natural) and vanilla flavors. The plain (natural) coffee enhancer is available now and the vanilla flavor will be available by the end of this month. A single container (7-day supply) retails for $27.95 and a bottle (30-day supply) retails for $99.95. Wholesale bulk orders are single-use packages, available through select restaurants.
For more information on Hemp, Inc.’s products, click here.
Hemp, Inc. also discovered its grounded kenaf and hemp blend is the perfect substrate to grow healthy and/or medicinal mushrooms and can make and/or provide the raw materials to produce hemp-based products such as hempcrete, horse bedding, hemp bio-plastics, and more. As one of the most rapidly growing plants on the planet, the hemp plant is used to make a variety of hemp products. It can be shifted into rope, paper, textiles, clothing, disposable polymers, paint, insulation, food, and animal feed.
On the industrial side, Hemp, Inc.’s industrial hemp plant in North Carolina manufactures and sells two industrial hemp products: Spill-Be-Gone™ (an oil spill cleanup product made from the core particles and powder of the kenaf and hemp plant) and DrillWall™ (a non-toxic, biodegradable drilling fluid additive used in oilfield drilling applications). Hemp, Inc.’s Spill-Be-Gone™ is sold in industrial-sized quantities for large oil spill cleanups. It is fast and cost-effective in cleaning up oil spills on land or water. The Company’s DrillWall™ is a tested LCM made of kenaf and hemp cellulose. It includes milled products from kenaf and hemp that are made into oil drilling fluid additives and oil absorbents.
Hemp, Inc. will continue to keep its shareholders up to date on all pertinent material events, product releases, production plans, and inventory availability. To catch up on Hemp, Inc.’s latest news below, see below:
Hemp, Inc. Reports: Growing Legalization of Industrial Hemp Driving Global Demand for Hemp
About Hemp, Inc.
With more than 14 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. 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.
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.
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. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.
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/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.
Investor Relations
(720) 220-0037
ir@hempinc.com
