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The Industrial Hemp Industry: An 18.6 Billion Dollar Market by 2027

Inspirational Technologies (2021)
“Misunderstood”
The Hemp Story


The Industrial Hemp Industry: An 18.6 Billion Dollar Market by 2027

 

 

The source cites, the “rise in usage of hemp seed and hemp seed oil in several food applications, increase in awareness regarding advantages of recreational hemp, and surge in demand for hemp-based beauty and personal care products drive the growth of the global industrial hemp market.”

However, complex regulatory structure for the use of industrial hemp hampers the market growth.

Department of Agriculture (USDA)

On the contrary, technological innovations are expected to create lucrative opportunities for market players in the future.”

lucrative opportunities?

Yes… a resounding yes. Industrial hemp has nearly

unlimited potential and the surface of that potential has only been scratched.

Much more remains to be discovered about the possible uses of the robust, multi-purpose substance.

Federal legislation in favor of hemp and many state approvals across the country have been a boon to the industry.

And with immense profits to be made, there is no doubt that companies in the industry, will benefit from it.

The hemp industry has evolved into an environment where the imaginations of creative scientists and inventors,

and business savvy entrepreneurs, will now be fully unleashed, leading to a cascade of innovations and surprising twists and turns.

Advanced technology in hemp will broaden product lines, increase efficiency, and boost production levels, ensuring ample funding for research and development for years to come. Technological innovation in the industrial hemp industry is already making a huge impact on several areas of the industry.

The number of consumer products made from hemp is already mind-boggling.

From personal care items to fuel, the list seems to be endless.

Hemp is here to stay and innovators will discover new ways to exploit the remarkable quality that has been known for years, Technological innovation will be the 

component to gain an edge in a highly competitive marketplace which will undoubtedly take the industry in some exciting and unpredictable directions.

From the grower to the manufacturer, and from the growing facility to the end consumer, technology is transforming the industrial hemp industry in unimaginable, riveting ways for everyone. For those outside the industry, the knotty question is, “How?” Well, according to the latest Allied Market Research Report, it’s the technological advancements in cultivation and machinery that are able to develop hemp plants more efficiently. These continual advancements are astounding, projecting the global industrial hemp market to “reach $18.6 billion by 2027, growing at a CAGR of 22.4% from 2021 to 2027.”

Just What Does $18.6 Billion Market Value Look Like ?

How much is 18.6 billion you ask?  

 

Well, you have come to the right place to learn all about 18.6 billion!
Let’s start with how you would write 18.6 billion with numbers only:
$18,600,000,000
And this is how you would write 18.6 billion with letters only:
Eighteen billion six hundred million
If you take apart 18.6 billion and turn it into millions you get:
18.6 billion = 18,600 million
If you type in 18.6 billion on your calculator, it may come out as a scientific notation of:
1.86E+10 (1.86 x 1010)
OK, enough of the basics. Now we will put 18.6 billion in the context of other things, so you can get a better idea of how much it really is:
Spending: If you had 18.6 billion dollars, you could buy 620,000 cars at $30,000/each or 93,000 houses at $200,000/each.
Travel: If you were to travel 18.6 billion miles, you could fly around the world 746,958 times or take a round trip to the moon 38,928 times.
Savings: If you could save $100,000/year, it would take you 186,000 years to save 18.6 billion dollars. If you could save $10,000 every single day, then it would only take you 5,096 years to save 18.6 billion.
Giving: With 18.6 billion dollars, you could afford to give every man, woman, and child in Canada $516.67.
Living: If you could live for 18.6 billion minutes, you would live until you were 35,388 years old.

Hemp may be the salvation in retooling America for greener, more sustainable domestic manufacturing. Inspirational Technologies is Committed to ” #HempMovesTheChains  #EnvironmentalHemp #ManufacturingHemp #PlanetHemp “

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Cannabis stocks rose Monday for the second straight day after a report by Marijuana Moment that Rep. Nancy Mace (R-S.C.)

 

is circulating the States Reform Act as a measure to legalize cannabis on a federal level.

 

Cantor Fitzgerald analyst Pablo Zuanic said late Friday the measure “significantly increases the probability of federal level marijuana reform” during the current term.

 

 

 

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OG: the Old Gangster is Back

Let’s dig into its weed culture nomenclature — and there are a lot of theories. Some say it’s an acronym for “ocean grown,” “original gangster,” or a shortened version of the word “original.”

If you’ve seen the term “OG” pop up in online media or social feeds, we won’t blame you if you have only a vague idea of what it means.

Most of the time, it seems like an internet slang term that could refer to anything and everything. Urban dictionary’s top definition says it used to mean “original gangster” but is now used as a shorthand for “original.”

A quick Twitter search for #OG ran the gamut from workout goals to happy birthday wishes to pictures of adorable dogs in winter sweaters.

So, what does OG actually mean? The short answer: it means a lot of things to a lot of different people.

In weed culture, OG are two letters you will see in front of a lot of strains that feature the parent strain, OG Kush. Given the frenzied pace of strain breeding right now, hot new strains come and go, but OG Kush has maintained its indisputable popularity. It’s even Weedmaps’ number one most popular strain and reigning Strain Madness champion.

This sativa-leaning hybrid is best known for its epic potency, with THC percentages regularly coming in at 20-25%. Some OG Kush consumers report long-lasting effects that land more in the head than the body, while intensifying sound and color. Described as having an earthy, berry, or citrusy taste, this happy, giggly, and relaxed strain is outstandingly social. No wonder strain breeders seek its parentage.

The OG origin story

Now that we know what to expect from consuming this uber-popular strain, let’s dig into its weed culture nomenclature — and there are a lot of theories. Some say it’s an acronym for “ocean grown,” “original gangster,” or a shortened version of the word “original.”

To know what OG means, you need to know the names of two cannabis growing forefathers who first became friends and roommates in Los Angeles in the early 1990s: Matt “Bubba” Berger, who currently works as a consultant and dispensary owner in Denver’s legal cannabis market, and Josh Del Rosso aka Josh D, Founder and Managing Director of Josh D Farms.

In Berger’s telling, he cultivated the strain in Florida from a random bag of flower he got from a friend in 1992. Another friend, impressed by the strain’s frosty colas, said the buds resembled “kushberries,” which was then shortened to “kush.” In 1996, Berger returned to LA with his kush seeds, and he and Del Rosso planted Kush, Bubba (another of Berger’s strains), and Purple Indica in the crawl space of a rental house they shared.

Word of Del Rosso and Berger’s Kush strain took off and demand soared, reaching $8,000 a pound in the late 90s — that’s around $13,400 in today’s dollars. But with success came imitators hoping to cash in on the Kush phenomena.

Del Rosso and Berger added “OG” to their original Kush to distinguish it from all the others, which stands for “original.” Adding one more layer of confusion, Berger and Del Rosso’s Kush is totally separate and unrelated to landrace kush, an indica that originated in Afghanistan.

OG Kush was hugely popular with 90s consumers, largely for its inclusion in hip hop culture in Los Angeles.

It’s been said it was a favorite of superstar pot celebrity Snoop Dogg and rapper B-Real of the West Coast hip-hop group Cypress Hill (who later released an album titled Greatest Hits from the Bong in 2005).

What does OG mean in pop culture?

So how did the term OG catch on in pop culture? That’s a winding road that leads back to the early 1970s, originating with the LA-based gang the Crips. Originally, it was an all-encompassing term that stood for “original gangster” and simply meant that they were literally the first, e.g. “OG Eastside Crip.”

Over time, the term broadened and evolved, and could refer to someone who showed extreme loyalty to the gang. The term was also used by younger members when referring to the elder gang members as a sign of respect.

As hip-hop and rap music began their mainstream ascent in the 80s, the term OG began to shift from gang culture to rap music and videos when artists sometimes referred to exceptionally badass aspects of gang culture as OG.

See related image detail

Rapper and actor Ice-T may be most responsible for bringing the term to a wider audience with his album and single of the same name,

O.G. Original Gangster,” which reached #7 on 1991’s Billboard rap chart. That could be what inspired Del Rosso and Berger, but that’s impossible to know for sure.

Eventually, the term seeped into establishment culture and continued to expand its meaning. Today you see it everywhere as a reference to something or someone that has exceptionally impressive skills, exemplifies a particular quality, or is the first of its kind.

Image result for ocean grown

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Planting The Seeds of CDB . . .

An entire industry is being built around cannabidiol, or CBD,  

one of the many chemical constituents of the cannabis plant.

 

A message from the Founder of “Inspirational Technologies

      Inspirational Technologies – Steven Smith 2021                            In this Blog,                                             “Planting the Seeds of CBD . . .”,           we wish to Inspire those who are still waiting for the process of “Legitimizing the Claims of CBD” and “MOVE  the CHAINS” forward in the game of CBD. We have had patience, waited on government regulators and Pilot Hemp Programs to give framework to the farmers, cultivators and processing plants. Thank you for your participation, Steven M Smith, Owner/Founder, Inspirational Technologies.

 

Advocates of the compound say it confers all sorts of health benefits,

from mitigating the symptoms of depression and anxiety to treating Glaucoma,

 

 

It’s cropping up in protein powders, bath salts, makeup and even jelly beans.  

 

Medical Advisory Groups for Corporate Subsidiaries are critical for US FDA CBD Compliance

 

But scientists are still unsure of exactly what the benefits — and pitfalls — of CBD are. 

“Society has jumped way ahead of the science on this,” said Margaret Haney,

a professor of neurobiology at Columbia University Medical Center in New York.

Reported benefits have mostly been anecdotal, or they have come from studies involving animal models.

CBD isn’t well understood, nor have there been sufficient studies done in humans, she said.

 

 

Cannabis plants produce a group of chemical compounds called cannabinoids.

The best-known are tetrahydrocannabinol, or THC

(the so-called psychoactive component of the plant that’s associated with the marijuana “high”),

and CBD (a non-intoxicating component of the plant that doesn’t produce a high),

Hemp. Recently, Legal to grow and process for CDB.  

 

Florida Hemp 2019

 

 

Here’s what we do know: CBD can help treat some types of pediatric seizures.

Last year, the FDA approved GW Pharmaceuticals PLC’s Epidiolex for the treatment of seizures associated with two rare forms of epilepsy in patients two years of age and older.

But, to get to that point, GW Pharmaceuticals had to go through a long and rigorous drug-approval process to show the drug’s safety and efficacy through clinical trials.

This hasn’t been done with CBD for any other indication, until now.

While it’s true that CBD has shown promise in pre-clinical and animal trials in addressing a number of issues such as pain, anxiety, neuroinflammation and substance-use disorder,

there’s still not nearly enough peer-reviewed research available, said Ziva Cooper, research director of the Cannabis Research Initiative at the University of California, Los Angeles.

To truly determine the effects of CBD in humans, many further studies need to be done — studies with humans, she said. “Overall, we have very little real data on the therapeutic effects of cannabidiol,” she said.

As for those CBD-based skin products that are popping up on shelves and online, Columbia University’s Haney said she remains skeptical of their marketed benefits.

Many are diluted. It’s a question of both dosage and absorption, she said. “We have no idea how much CBD you would need to rub on your skin for it to have some kind of medical effect,” she said.

 The amount of CBD in a lot of marketed products — even ones that are meant to be taken orally — is so small that we can not make any therapeutic measures for the person using it, said UCLA’s Cooper.

In the few studies that have involved humans, doses were in the hundreds of milligrams, but most CBD-infused products contain much less than that,

which the company says can be used as a daily supplement and help “promote a calm sense of well-being,” it also notes on its website that such statements “have not been evaluated by the Food and Drug Administration.”  

CBD advocates were hoping laws around the compound might loosen up — or at least become clearer — after President Donald Trump signed the 2018 Farm Bill.

Mature Hemp Field Crop
Hemp Is Now A Viable Agriculture Phenomenon

 

The bill legalized hemp, a variety of the cannabis plant that contains no more than 0.3% THC.

December 2018 – The Farm Bill Legalized Hemp

But regulation of CBD, whether derived from hemp or not, is still largely under the FDA’s jurisdiction.

Since CBD is technically an active ingredient in an FDA-approved drug,

companies are not allowed to add it to food or drinks sold across state lines or to sell it as a dietary supplement.

 

Companies are, however, allowed to put the compound into beauty and skin-care products, as cosmetics are not subject to premarket approval by the FDA.

That could explain why drugstore chains like CVS and Walgreens aren’t worried about introducing CBD-infused topical products in their stores.

“People shouldn’t confuse availability with legality,” said former FDA regulatory counsel Jonathan Havens.

The agency has cracked down on unfounded claims, but it has limited resources and can’t get to everyone, so it is focusing mostly on companies making blatant health claims about their products, Havens said.

 

The FDA recently sent warning letters to Advanced Spine and Pain LLC, Nutra Pure LLC and PotNetwork Holdings,

saying the companies violated federal law by advertising their CBD-containing products as potential treatments for ailments including cancer, Alzheimer’s disease, arthritis and more. 

“The FDA wants to protect consumers. The last thing it wants is companies out there marketing CBD products and claiming health benefits without any clinical research to validate that,”

said Rob DiPisa, co-chair of the Cannabis Law Group at law firm Cole Schotz. 

US FDA Fight to Regulate Cannabis (Hemp) More Research is Needed

At the same time, requiring anyone who wants to put a CBD-containing food or beverage on the market to go through the clinical-trial process would “chill the whole CBD market,” he said.

  The FDA is aware of the public’s interest in CBD. Former FDA commissioner Scott Gottlieb put out a statement outlining steps to figure out a framework to lawfully market cannabis

and cannabis-derived products, including  public hearings and formed an internal working group to look into the issue.

DiPisa said he hopes the hearings last  May 2021 will provide more clarity for him and his clients.

“Everyone is running blind right now,” he said.

 

 

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Happy 420 Aaron Rogers

InspirationalTechnologies

Wishes Aaron Rogers a Happy 420 on his 420th Touchdown, tying Dan Marino for 6th in All Time Touchdowns made.

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Florida Black Farmers Still Awaiting

TALLAHASSEE, Fla. – September 23, 2021

The Department of Health

is under fire because it has still not issued a medical marijuana license to a Black farmer.

 

 

Lawmakers grilled the department to find out what is responsible for the delay on Thursday.

When the Legislature passed its medical marijuana law in 2017,

one grower’s license was reserved for a Black farmer.

 

“So that the medical marijuana licenses in our state would have equity,”

said state Sen. Darryl Rouson.

Rouson called the Department of Health before the Senate Agriculture Committee

to explain why the Black farmer’s license isn’t among the 22 that have already been issued.

 

“Years have passed since this Legislature spoke,” said Rouson.

The department blamed the delay on a lawsuit challenging

the state’s seed-to-sale requirement for license holders.

The state Supreme Court finally ruled in the state’s favor in May.

Department of Agriculture (USDA)

 

“We are working quickly and anticipate moving forward with the Pigford MMTC licensing process in the coming weeks,”

said Christopher Ferguson, director of the Office of Medical Marijuana Use.

Meanwhile, The Florida Black Farmers Wait.

 

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Current State Of CBD and Cosmetics in the USA

Although the current state of regulation for CBD is in-flux for supplement and food products, the outlook is pretty good for beauty, as long as companies are careful about where they source the CBD, otherwise adhere to the regulations governing the marketing of cosmetic products, and limit sales to states where the sale of such products is legal.

While CBD Infused Beverages and Food Remains with the FDA. Cosmetic Use Is An Open Market Soon To Be Saturated.

  CBD, or Cannabidiol, is one of many cannabinoids found in the plant species Cannabis sativa L., which, surprising to many, includes marijuana and hemp.

December 2018 – The Farm Bill Legalized Hemp

The 2018 Farm Bill defines hemp as any part of the plant Cannabis sativa L. with a THC concentration of not more than 0.3% on a dry weight basis, and removes hemp and hemp derivatives from Schedule I of the Controlled Substances Act. CBD derived from a marijuana plant, or from a hemp plant with a THC concentration of greater than 0.3%, fall outside the statutory definition of hemp and therefore remain controlled substances. In order to legally market beauty products containing CBD, companies must be able to establish that the ingredient is derived from a hemp plant, grown by a licensed grower, and contains 0.3% or less THC. The United States Department of Agriculture, the regulatory agency responsible for implementing the 2018 Farm Bill, issued a legal opinion confirming that states may not prohibit the interstate transportation of hemp or hemp derived products that satisfy these requirements.

Department of Agriculture (USDA)

The Farm Bill does not, however, supplant the Food, Drug and Cosmetics Act (“Act”). Under the Act, companies that want to market beauty products containing CBD cannot claim the products, or the CBD, is intended to affect the structure or function of the body, or otherwise treat, mitigate, or prevent a disease. In addition to these Federal regulatory requirements, companies must also adhere to the laws of individual states, which have the right to restrict or limit the sale of CBD products within their jurisdictions. Thus, before shipping a CBD beauty product, companies should confirm the sale of such products is legal in the target state.

Nikki Fried -Florida Agriculture Commissioner 2021

  Why is it crucial for CBD brands and ingredients providers to be completely up to date on the fast-changing regulations? The fast-changing regulations really have to do with growing and licensing requirements for hemp growers. The regulation of what constitutes legal hemp is pretty much set by the 2018 Farm Bill. Since CBD derived from hemp is the only ingredient that has been legalized by the Bill, it is critical for companies and ingredient suppliers to be sure (1) the hemp is sourced from a licensed grower, and (2) the THC content is 0.3% or lower.

3rd Party Certificates Of Analysis (COA) determine what is in the sample tested. Look for the Good and the Bad. *Pesticides, Heavy Metal or Added Toxins. COA’s are a necessity.

  Products that fail to meet these two requirements fall outside the statutory definition of hemp, fall within the definition of marijuana under the Controlled Substances Act, and are thus illegal.

Florida Hemp

Companies interested in marketing and selling CBD cosmetic products will gain insights into the regulatory landscape surrounding the marketing of such products, and in particular, have an understanding of the FDA’s and FTC’s current thinking and approach to regulating the products. Research strategies companies can follow to avoid attracting the attention of regulators and consumer lawyers.   What is the number one question that CBD beauty professionals have? There are really two questions to answer. The first is can we legally sell cosmetics containing CBD? The second question is what can I do to protect the company from claims arising from the sale of CBD beauty products. As noted in response to question 1) above, the question of legality is somewhat straightforward. The question of protection is more complex, and involves the need contract with vendors, secure insurance coverage, and consider a myriad of other business considerations.

“Misunderstood”   The Hemp Story

  House Appropriations Committee to Consider Hemp Guidelines this Summer.

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