Hemp, Inc. Highlighted as a Major Player in the Industrial Hemp Market by Verified Market Research Report

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.