Over the years, Hemp Inc (OTCMKTS:HEMP) has continued to pledge its commitment to domestic products and partnerships. Being a global leader in industrial hemp industry, the company’s efforts are driven by increasing demand for hemp, especially the smokable hemp flower. This is very common in the wellness sector and also personal usage.
Bruce Perlowin, says that they have an obligation of satisfying the market with high-end and effective products. This includes a smokable alternative to cigarettes such as King of Hemp pre-roll. The good news is that the pre-rolls are compliant with the 2018 Farm Bill, federal regulations.
The Impending Health Benefits of CBD Will Positively Propel the Market Growth
Cannabidiol (CBD) is used to treat various medical ailments such as seizures, neurological and chronic pain conditions, nausea related to cancer chemotherapy, and vomiting. The post-implementation of the Agriculture Improvement Act of 2018 has intensified the demand for CBD products in Japan, France, Canada, the UK, and the US.
Meanwhile, Global Market Insights report outlines that the CBD market size has increased beyond $2.8 billion in 2019. Anticipations are high that between 2020 and 2026, the same market will grow at around 52.7% CAGR.
Hemp Inc. will be focusing on retail and wholesale business
The effects of COVID-19 pandemic on businesses are no longer news. Both small and large businesses have encountered huge losses to the point of closure. However, this was not the case with Hemp Inc., according to Perlowin.
Speaking on the Stock Day Podcast hosted by Everett Jolly, the CEO said, “We’re actually exploding in our business. We’re actually exploding in our business. COVID-19 doesn’t affect us because we sell it over the internet and ship directly to stores and individuals.”
Meanwhile social distancing measure in the marijuana industry are well in place since many companies are located in rural areas. This confirms the presence of a safe working environment.
The remainder of 2020 looks bright and hopeful for Hemp Inc. with high expectations of increased revenue from productivity.