Las Vegas, NV, March 15, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, was highlighted as one of the major players in the industrial hemp industry in a new report by Verified Market Research. The report says the industrial hemp market was valued at $5.66 billion in 2020 and is projected to reach $27.72 billion, globally, by year 2028 as awareness among consumers spreads about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp in many countries and the rising application of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverage, personal care, construction and material, furniture and paper. These factors are expected to drive the market for industrial hemp.
The report also provides valuable insight into the global industrial hemp market, citing Hemp, Inc. among one of the “major players” in the market alongside other companies such as Hempco, Ecofibre, GenCanna and more. The major players were recognized for their key development strategies, market share and market ranking analysis in the industry. Hemp, Inc. executives say the recognition does not come as a surprise. The company has over a decade of experience in growing, harvesting, processing and selling industrial hemp, as well as having a strong foothold on the educational front with its Hemp University.
See an excerpt from the report below:
Rising awareness regarding the dietary advantages of its oil, coupled with the growing demand from the cosmetics and personal care industries is expected to drive the market growth. The introduction of conducive regulation pertaining to the cultivation and use of hemp-based products in the U.S. is expected to drive the market over the forecast period. Industrial hemp is a highly regulated crop across the world and licenses from a different country and state authorities are required to grow, process, distribute, and use these products. On account of the liberalization in regulations, the countries are producing and consuming a significant amount of this product which is expected to drive the growth of the industrial hemp market over the next eight years.
However, factor such as complex regulatory structure for the usage of industrial hemp is expected to restrain the market growth across the globe over the forecast period. Companies offering hemp and hemp-derived products require compliance with different regulatory guidelines globally. While countries across the globe practice different levels of legalization for different types of hemp, the strict regulatory norms pertaining to the production and sales of industrial hemp across various states in the same country could be tedious for manufacturers and stakeholders to comply with. Additionally, the regulations associated with hemp containing cannabidiol (CBD) and tetrahydrocannabinol (THC) also remain highly varied from state to state, which further leads to complications associated with the trading of the commodity. For instance, in the US, various legal policies should be taken into consideration; these policies include licensure of growers, regulation, and certification of seeds, state-wide commissions, and legal protection of growers.
To read the full report, click here.
Hemp, Inc. continues to grow as the industry grows. 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 executives, there are a limited number of signed collector’s boxes also available. Those interested in being the first to collect this “pirate treasure” should 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. executives believe 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.