The Hemp Industries Association consists of hundreds of hemp businesses. The organization recently released estimates of the size of the United States retail market for hemp products. According to data from market research, the total retail sales of hemp food and body care products in the United States reached up to $184 million. Sales of popular hemp items such as non-dairy milk, soaps and lotions have done incredibly well since the provision of the Farm Bill, which allowed for the domestic cultivation of hemp. Including other products, such as clothing, paper, auto parts, etc., the total retail value of hemp products sold in the United States in 2013 was, at least, $581 million.
Also, according to data, U.S. hemp food and body care sales spiked in stores by twenty-four percent, or $11.89 million, in just a year from December of 2012 to December of 2013; in 2012, the sales of food and body care hemp products reached just $61.4 million. According to other data, conventional retailer sales grew by 26.5% in 2013, and natural retailers grew by 22.4%. It has become evident that the growth of hemp retail sales in the United States continues to rise, as natural and conventional market growth has risen 24% from 2011 to 2013.
Hemp Inc (OTCMKTS:HEMP) is a company founded in 2008 with the goal of eventually becoming the leader in the industrial hemp industry in the United States, which, as previously mentioned, is estimated to be well over $500 Million. The company’s mission is to be able to give environmentally friendly solutions that make the world a better place to live in through their products. Hemp, Inc.’s wholly owned subsidiary Industrial Hemp Manufacturing, LLC bought the largest decortication plant in North America, located in North Carolina.
CEO of Hemp, Inc. and leader in the industrial hemp industry, Bruce Perlowin, was given the Jack Herer Cannabis Hemp Award to recognize Hemp, Inc.’s “Major Achievement in the Hemp Industry”. Michael Whalen, Producer, and Co-Creator of the Jack Herer Cannabis Awards stated that Perlowin and Hemp, Inc. have both had a major impact within the industrial hemp industry with the only commercial, industrial hemp decortication facility in the United States. The company was also admired for its focus towards more beneficial processing in the milling line. Here is what Whalen had to say:
“We were honored to recognize Bruce Perlowin and Hemp, Inc. at the 1st Annual Jack Herer Cannabis Awards on November 28, 2015. Since this is our first year bringing recognition to some of the leaders and innovators in the cannabis and hemp industries, we kept our awards small… focusing on about 7 recipients who we felt really made a difference and who are continuing to pave the way for others as this multi-billion dollar industry unfolds after being suppressed for decades.” Over the last ninety days, HEMP has seen lows of $0.049 and highs of $0.11; a difference of 124%. Hemp Inc (OTCMKTS:HEMP) is working towards its long-term goal of leading the country’s hemp industry and is a company worth watching.