Hemp, Inc. Profiled in Latest Global Report

LAS VEGAS, NV, Feb. 13, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Hemp, Inc. (OTC:HEMP) was profiled in a new report published by Allied Market Research, titled, “Industrial Hemp Market by Type, Application, and Source: Opportunity Analysis and Industry Forecast, 2021–2027,” as one of the key players in the industrial hemp industry… an industry projected to reach $18.6 billion by 2027, on a global scale. Driven by sustainable growth and other diverse applications, the industrial hemp market is expected to retain its dominance throughout the forecast period.

Specifically, the report segmented the market based on type, application, source, and region. Type included hemp seed, hemp oil, hemp fiber and others. Application included food and beverages, textiles, personal care products, pharmaceuticals and others. Source is categorized into conventional and organic. Region included North America, Europe, Asia-Pacific, and LAMEA. Key findings were as follows:

·       By type, the hemp oil segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.

·       By application, the personal care products segment accounted for highest share in the industrial hemp market growth in 2019, and is projected to grow at a CAGR of 19.6% from 2021 to 2027.

·       By source, the conventional segment led the global demand in 2019, and is expected to retain its dominance throughout the industrial hemp market forecast period.

·       By region, Asia-Pacific accounted for highest industrial hemp market share in 2019, and is expected to grow at a CAGR of 20.4%.

Always a step above the rest, Hemp, Inc. continues to be featured as one of the major key players in industry-wide hemp market reports. Coupled with an invaluable roster of connections with hemp manufacturers and vendors across the country and abroad, the Company expects to see meteoric growth curves on a domestic and international scale as the industry continues to grow.

Through its e-portal (www.hempinc.com), the Company’s hemp-derived products are poised to capture a large share of the marketplace on a global scale and to play a vital role in maintaining good health and well-being… 2 significant growth factors of the CBD market. The Company’s product line contains CBD, CBDA, CBG, CBGA, and CBN (non-psychoactive compounds found in cannabis plants). These are active ingredients in cannabis that are derived from the hemp plant, which is widely known for pain relief, relaxation, and anxiety relief. A recipe is only as good as its ingredients and how those ingredients are blended.