U.S. Currently 2nd To China In Hemp Revenues Which Could Approach $6 Billion By 2020
Palm Beach, FL – April 11, 2019 – In recent industry reports, China led all countries with nearly $1.2 billion USD in hemp sales in 2018, followed by the United States ($1.0 billion), Europe ($980 million) and South and Central America ($220 million). A recent report from an independent, technology-driven analytics company specializing in the cannabis industry stated that: “… the global hemp industry reached $3.7 billion USD in retail sales in 2018, with an annual growth rate of 15% driven by continued strength in Chinese textiles, European industrials, Canadian foods, and the U.S. hemp-derived CBD market.” This report is the first in-depth, quantitative and fact-based analysis of the global hemp industry since the United States’ 2018 Farm Bill and Canada’s Cannabis Act passed; two groundbreaking changes in North America that dramatically re-shaped the entire hemp industry.” By 2020, (the report data says) estimates the global market will reach $5.7 billion USD across all markets, representing a three-year compound annual growth rate (CAGR) of 17.5%. The U.S. market, however, is positioned to grow under the 2018 Farm Bill, with an estimated $2.6 billion projected in sales by 2022, with $1.3 billion in sales estimated for hemp-derived CBD products by 2022. “As regulatory barriers diminish in the months and years ahead, businesses will continue to expand the ways in which hemp is utilized, especially across medicinal and industrial applications,” said (the author). Active companies in the markets this week include The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC: TGODF), OrganiGram Holdings Inc. (TSX-V: OGI) (OTC: OGRMF), The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTC: SPRWF), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF)
The report concluded: “The U.S. hemp industry is set to boom under the 2018 Farm Bill. American farmers have a new crop, and consumers are seeing an explosion of new and innovative products. Hemp: the ultimate triple bottom line crop for people, planet and profits,” However a research report by a relied upon industry source, (The Brightfield Group) has previously projected that the: “Hemp CBD Market to Reach $22 Billion By 2022: Outpacing the Rest of the Cannabis Market Combined”, so while the projections may differ they agree that the future revenues will rise substantially in the next few years.
The Yield Growth Corp. (CSE:BOSS) (OTCPK:BOSQF) BREAKING NEWS: Yield Growth Corp enters agreement with consultant Pontier Services to set up Urban Juve hemp beauty products for sales through China’s most popular messaging app, WeChat, and to launch a marketing campaign with a pop-up kiosk to rotate through luxury shopping malls and other major locations in Hong Kong for three months beginning in June 2019. According to New Frontier Data, in 2017, Chinese hemp sales totaled $1.1 billion, approaching 1/3 of the $3.1 billion global market, with sales forecasted to grow to $1.5 billion (up 36%) by 2020.
The objectives of the pop up kiosk campaign will be to introduce Urban Juve’s brand story, Ayurveda philosophy and proprietary hemp root oil ingredient skin care products to the Chinese audience through the WeChat platform and to drive sampling and sales transactions through the kiosks. The initial locations for the artificial intelligence enabled kiosk this summer will be 3 luxury shopping malls in Hong Kong, University of Science and Technology, Science Park and the Park Yoho residence clubhouse.
“The use of pop-up kiosks in shopping malls to promote online sales is an innovative way to reach the modern consumer,” says Penny Green, CEO of Yield Growth. “We are excited to launch Urban June’s hemp products in the fast growing Chinese market this summer through WeChat.” Urban Juve will be the first Canadian brand to launch PopSquare AI-enabled pop-up kiosks in China. Through Pontier and PopSquare, Urban Juve will use big data, computer vision, sensor fusion and machine learning to deliver increased sales, deeper analytics and enhanced customer service. Read this and more news for The Yield Growth Corp. at: https://www.financialnewsmedia.com/news-boss
Other recent developments from yesterday and major influences in the cannabis/CBD industry include:
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX: TGODF) recently announced that is pleased that Hamilton City Council has voted to approve the Company’s settlement offer, to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019.
“This is tremendous news for our Company and for the city of Hamilton,” said Brian Athaide, CEO and Director of TGOD. “We are a global company that has its roots in Hamilton, and we are looking forward to expanding our production of high-quality, organic cannabis right here in our home town. This is important to TGOD’s ability to generate considerable near-term revenue while the Company continues to approach its global planned output of 219,000 kgs.”
The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) recently announced that it expects its previously announced oil products line to be introduced to adult-use consumers in select Canadian markets starting April, 2019.
Supreme Cannabis plans to initially ship oil products to select markets before expanding distribution of its cannabis oil line to additional provinces which is expected by the end of June, 2019. Each bottle will contain a proprietary blend of highly purified cannabis oils and terpenes derived from plants grown by 7ACRES.
OrganiGram Holdings Inc. (TSX-V: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis recently announced the recent appointment of strategy and operations consultant James Cavanagh as the Company’s Chief of Staff.
Mr. Cavanagh is an experienced professional who has worked with Canadian and global clients across a variety of industries to drive top and bottom-line growth as well as organizational and operational improvements. Previously with PwC, he has overseen the design and implementation plan of global manufacturing, corporate, and sales processes designed to strategically enhance performance and revenue. Mr. Cavanagh has also facilitated digital strategy development and implementation, introducing new technology platforms in order to improve critical business processes and help achieve cost reduction.
MedMen Enterprises Inc. (CSE: MMEN.CN) (OTCQX: MMNFF) recently announced that it has entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Canaccord Genuity Corp. pursuant to which the Company may, from time to time, sell Class B subordinate voting shares (the “Subordinate Voting Shares”) in the capital of the Company for aggregate gross proceeds of up to CDN$60,000,000 . The At-the-Market equity financing program (the “ATM program”) is designed to enable the Company to issue Subordinate Voting Shares from treasury at lower cost than traditional offerings, without discount and at prevailing trading prices. The Company intends to use the net proceeds from the sale of Subordinate Voting Shares under the ATM program principally for general and administrative expenses, working capital needs and other general corporate purposes.
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