LAS VEGAS, NV, Feb. 22, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Romaine calm! Hemp, Inc. (OTC:HEMP) is to report that the global hemp-based foods market is showing strong indicators of growth, fueled by the rising vegan population, advancements in processing technology, and the increasing number of health-conscious consumers seeking plant-based and gluten-free alternatives. The hemp-based foods market is set to reach $8.36 billion by 2028 according to The Business Research Company’s (TBRC) latest report, “Hemp Based Foods Global Market Report 2024”.
The report unveils a comprehensive overview of the hemp-based foods sector. Projected to achieve a robust compound annual growth rate (CAGR) of 8.9%, the market is anticipated to burgeon from its current standing to an impressive $8.36 billion by 2028. This surge is attributed primarily to the expanding vegan population across the globe. (Great things happen when olive our friends stick together.) Anyway, TBRC's analysis provides an excellent in-depth look at the hemp-based foods market, breaking it down into critical segments:
· Products: Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seeds
· Distribution Channels: Supermarket Stores, Convenience Stores
· Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa
Hemp-based foods, derived from the seeds of the hemp plant, are celebrated for their nutritional completeness, featuring all the essential amino acids required by the human body. The report highlights hemp milk, hemp oil, hemp cheese substitutes, and hemp-based protein powders as key products fueling the market's growth. Notably, hemp seed oil emerges as a versatile product, finding utility in both culinary applications and as a valued ingredient in cosmetic formulations.
The report underscores the diverse uses of hemp seeds and oils, highlighting their nutritional profile rich in omega fatty acids and gamma-linolenic acid. Their therapeutic properties, bolstered by high antioxidant content, make hemp-based foods an attractive option for health-conscious consumers.
Distributed primarily through supermarkets and convenience stores, hemp-based foods are becoming increasingly accessible to consumers worldwide, further propelling market growth. And with a robust infrastructure for hemp cultivation and a steadily growing demand for plant-based food from our vegan slayers here, North America is poised to dominate the market share, according to the Report. Yes, the forks have spoken and Hemp, Inc. is one of the companies at the forefront listening!
Hemp, Inc. has been one of the key players in this burgeoning industry, driving the market forward with its quality products and strategic market approaches. 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… two 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). Carbohydrates bond with oils including all the cannabinoids for massive and 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. Currently, Hemp, Inc. has decided to expand its product line and has updated its website. The Company will announce its new products as they are launched throughout the year.
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
Hemp, Inc. Reports: Global Natural Fiber Composites (Hemp, Kenaf, and Flax) Market Set to Reach $424 Million by 2028
Hemp, Inc. Profiled as Key Player in Latest Industrial Hemp Industry Report on Emerging Trends, Growth, and Future Scope by 2027
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
