Source: GLOBAL NEWSWIRE, 10/28/21

Hemp, Inc. (OTC PINK: HEMP), a leader in the industrial hemp market, is well positioned to capture market share for direct-to-consumer hemp derivatives such as hemp tea. Hemp, Inc. has been developing CBD cosmeceutical and nutraceutical products through its King of Hemp® brand.

According to a market report published by Research Dive in September 2021, demand for hemp tea and other plant-based beverages is particularly strong in North America. Relaxed regulations in the United States and Canada surrounding the cultivation and use of cannabis in the manufacturing of products like hemp tea is one contributing factor.

Research Dive found the “rising prevalence of health-conscious people across the globe and their increasing inclination toward herbal tea are further expected to bolster the growth of the hemp tea market.”

Hemp tea has been recognized as having a number of health benefits, including maintaining body weight and reducing stress, anxiety and depression.

The global hemp tea market is projected to reach $245,541.33 thousand by 2028. For comparison, the same market was valued at $50,315.29 thousand in 2020. In addition, a 129-page report determined that the global hemp tea market will grow “exponentially at a CAGR of 22.9% during the forecast period (2021-2028).”

The Research Dive report segmented the global hemp tea market into three distribution channels: online/direct-to-consumer; convenience stores; and other. Through its King of Hemp® products, Hemp, Inc. already has a strong presence in a variety of markets and distribution channels.

Hemp, Inc. has been doing R & D on hemp teas for two years, experimenting with hemp flowers, hemp fan leaves, hemp roots and hemp tea blends for close to two years now and expects to roll out its hemp tea line in 2022. Our analysis indicates that hemp teas are one of the totally underutilized products this incredible plant can provide out of the 25,000 products that can come from the hemp industry. 

The King of Hemp® online store offers consumers 24/7 convenience and secure online ordering. King of Hemp® products are also available at retail locations in Florida, Arizona, Nevada and California. Hemp, Inc. began shipping its King of Hemp® product line to stores across the country in late 2020.

In September of this year, Hemp, Inc. announced it had acquired Ferris Holding, Inc., a leading co-packer and manufacturer based in Las Vegas, Nev. The acquisition allows Hemp, Inc. to expand its new product launches in the global hemp market.

Hemp, Inc. has the largest industrial multipurpose hemp processing facility in North America, an 85,000-square foot facility in Spring Hope, N.C.

With more than 10 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.

Hemp, Inc.’s mission to provide 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.