NEW YORK, July 24, 2017 /PRNewswire/ --
According to a repot by theHemp Business Journal and Vote Hemp, the total retail value of hemp products sold in the U.S. in 2016 was $688 million. Items such as shelled seed, protein powder, soaps and lotions have continued to increase in sales. The
Matt Karnes of Greenwave Advisors, stated according to a Forbes report, "In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now, there are 15 states that allow CBD only - this is in addition to the 28 states plus DC that have legalized medical marijuana." The report indicates that the CBD market has already been targeted by industry insiders. According to Headset Research data, in Washington state alone there are over 800 CBD products in the marketplace.
ChineseInvestors.com, Inc. (OTCQB: CIIX) just announced this morning that, "its wholly-owned foreign enterprise, CBD Biotechnology Co. Ltd., has officially filed a record of its first line of non-industrial hemp-infused skin care products with the China Food and Drug Administration (CFDA). The new 'CBD Magic Hemp Series' skin care line is expected to launch between late August and early September 2017, positioning CBD Biotechnology as a first-mover in an untapped segment of China's skin care industry."
Recognizing the untapped market potential, CBD Biotechnology is developing and manufacturing what it believes to be the first line of non-industrial hemp-infused skin care products in China in hopes of educating the Chinese population on the potential benefits of CBD for skin care. "I am very pleased to announce the upcoming launch of CBD Biotechnology's non-industrial hemp-infused skin care line," says Summer Yun, CEO of CBD Biotechnology Co., Ltd. "As one of the first skin care products containing CBD extract marketed in China, CBD Magic Hemp Series expects to capture 100% of China's market share in this novel skin care products category. Although a catalogue published by the CFDA, indicates that cannabis sativa leaf extract can legally be added to skin care products, it appears that Chinese skin care manufacturers have not yet entered this market, enabling CBD Biotechnology's skin care products to proudly take the lead with its innovative product line."
The 'CBD Magic Hemp Series' will include: - The CBD Peptide Collagen Solution - intended to moisturize and firm the skin, while smoothing fine lines, and preventing premature aging; - The CBD Perfecting Shield Primer - intended to even skin tone, while covering fine lines and minimizing the look of pores; and - The CBD Brightening and Refreshing Moisturizer - intended to balance the skin's moisture, while forming a protective, moisturizing layer.
"Consumption of skin care products per capita in China has increased from 169 Chinese Yuan Renminbi ("CNY") to 352CNY during the last five years," says Yun. "China has the world's second largest consumer market for skin care products, with its current market size already exceeding 300 billion CNY. The CARG (compound annual growth rate) of the skin care products market in China is 9.1%, more than double the global average of 4.1%. CBD Biotechnology will benefit from this large consumer market in China becoming one of the first companies in China to infuse its skin care products CBD extracted from non-industrial hemp."
Marijuana Company of America Inc. (OTC: MCOA) is an innovative cannabis and hemp marketing and distribution company. The company recently announced that it has contributed the first installment of capital to Bougainville Ventures, Inc. ("BV") in partial satisfaction of the joint venture agreement entered into earlier this year in Washington State. MCOA received $375,000 in its first round of financing. This investment will contribute to funding the development of a state-of-the-art 30,000 sq. ft. greenhouse grow facility in Oroville, Washington. Once completed, the greenhouse facility will accommodate a cannabis production and processing tenant with a Tier 3, I-502 license with significant experience growing cannabis.
Medical Marijuana, Inc. (OTC: MJNA) recently announced that it and its subsidiary HempMeds® Brasil garnered extensive media coverage across Brazil about the Company's growth and the booming cannabis market across U.S. and Latin America. HempMeds Brasil™ is the first company to offer legal medicinal cannabis products to Brazil after receiving import approval to those suffering from specific medical conditions. Most recently in February 2017, for the filling of a prescription for the first time, for the Company's hemp CBD oil product - Real Scientific Hemp Oil™ (RSHO™), to treat patients in the country suffering from Multiple Sclerosis. Additionally, doctors in Brazil can prescribe RSHO™ for any condition.
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company that is committed to cultivating and providing the highest quality medical cannabis and other agricultural products. The company recently announced that it is ramping up its marketing campaign for its subsidiary, Edible Garden®, a provider of fresh, locally grown herbs and leafy greens nationwide. Edible Garden was established in 2007 and utilizes time-tested, advanced Dutch hydroponic farming methods to grow fresh produce in a safe and healthy environment. Founded on the importance of providing consumers with healthy and natural products, Edible Garden has developed into a national brand grown by a co-op of local growers. Its products are 100% natural, USDA Certified Organic and Non-GMO Project Verified.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. The company recently announced that it has secured its second client in the state of Arkansas. The company will initially provide strategic planning and pre-licensing solutions for this new client, which include operational planning activities, facility conceptual design work and state application completion. Terry Buffalo, CEO of American Cannabis Company, commented: "The United States is about to expand its medical cannabis market with the addition of my home state, Arkansas. Our new client has the team members in place to be successful, and I believe that our consulting relationship with them will serve to optimize their potential."
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