Growing Market Share for CBD-based Products Projected to Exceed $2 Billion

medicalmarijuana June 8, 2017 Comments Off on Growing Market Share for CBD-based Products Projected to Exceed $2 Billion
Growing Market Share for CBD-based Products Projected to Exceed $2 Billion

The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion dollar market in consumer sales by 2020 with $450 million dollars of those sales coming from hemp-based sources. That’s a 700% increase from 2016. CBD or Cannabidiol, is a primary component of the marijuana plant but can be derived from the Hemp plant as well. Hemp and Cannabis Company market activity and news coverage today includes: Hemp, Inc. PotNetwork Holding, Inc., Acology, Inc., MassRoots, Inc., Players Network.

Hemp, Inc. (OTC: HEMP) announced today that its farming associates, who are licensed in the state of North Carolina by the NC Industrial Hemp Commission, have secured 150+ pounds of CBD-rich hemp seeds which are to be planted this weekend and/or next week. According to CEO, Bruce Perlowin, the 150+ pounds of seeds equate to over 550 acres to go along with the 17 acres of high-CBD clones they are planting in North Carolina and Colorado. It will be one of, or, the largest CBD hemp grows in the United States, to date.

The company also plans on purchasing its second CBD Extractor, this year. As announced in Hemp, Inc.’s last press release, the company has already purchased its first industrial NuAxon Tech CO2 Supercritical extractor from NuAxon BioScience, the manufacturer and producer of the world class, large capacity CO2 Supercritical Extraction equipment. However, with the industry’s expanding CBD market and ever-increasing consumer CBD sales over the past few years, executives feel it is in the best interest of its shareholders to acquire a second extractor to capture a solid, sizeable share of the market while still in the early growth stage. Read this and more news for HEMP at

David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM) said that they have been researching CBD extraction methods and manufacturers for the past 2 years, weighing the pros and cons of both. For its second CBD extractor purchase, executives found another manufacturer they feel would produce another superior CBD extractor that utilizes a different technology. Based on Hemp, Inc.’s research, building a CBD extractor takes extensive testing, product knowledge and continual process improvement to ensure a superior product that is held to the highest of standards. A collaborative design engineering team that ensures the quality of each component, coupled with a customizable approach, guarantees the extractor will meet all of Hemp, Inc.’s specifications and standards.

Schmitt expects both extractors to have optimized production levels. “The CO2 Supercritical Extractor that is currently in-house is expected to be assembled over the next 3 months. Once assembled, we will be ready to process and extract CBD oil,” said Schmitt.

Bruce Perlowin, CEO of Hemp, Inc. said, “The CBD market has been growing by leaps and bounds. CBD’s medicinal qualities have been making waves across America. Residents in states that have not legalized medical marijuana are finding that CBDs from hemp are an alternative to pharmaceutical drugs to treat debilitating medical conditions. There have been recent studies showing CBDs are preferred over addicting pharmaceutical drugs.”

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