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CBD Archives - Hemp Market Report

Julie AitchesonJulie AitchesonJanuary 29, 2020
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5min00

The term “disruptor” is being flung far and wide these days, applied to everyone from climate crusader Greta Thunberg to companies reimagining the consumer status quo such as Beyond Meat and Thinx. CBD also makes the disruptor spectrum, at least in the context of the beauty industry according to “The Impact Series: Disrupting Beauty”, a report published by research and content consultancy Prohibition Partners. 

The report documents CBD’s popularity in the beauty industry, which is growing by leaps and bounds due to its purported benefits, including being anti-inflammatory, anti-oxidant, antibacterial, antipollution, and having collagen-promoting properties. Testing that substantiates these claims and determines the concentration of CBD necessary to ensure therapeutic value is still in progress, but that is not preventing big names from jumping on the CBD bandwagon. Retailers like Walgreen’s, Walmart, CVS, Ulta, Nordstrom, and Sephora already stock topical CBD beauty products on their shelves. 

Prohibition Partners projects that the CBD skincare market sales will reach $959 million by 2024, yet the lack of regulations or industry standards for quality and strength makes CBD skincare a bit of a Wild West into which many investors hesitate to venture. Hemp seed oil has long been a favorite ingredient of companies looking to blend nourishing creams and lotions with “all-natural” cachet, but some producers are now deliberately conflating hemp seed oil with CBD in order to sell products at a higher premium. This sleight of hand is not expected to outlast 2020 as the FDA begins to crack down on such claims and more customers demand a COA (Certificate of Analysis) from an accredited third-party laboratory in order to verify CBD content and potency. As these pieces fall into place, major beauty brands like Estée Lauder and L’Oréal test out the market by featuring hemp seed oil (without CBD) in a few of their products, part of a “wait and see” strategy until CBD catches up with its own hype. 

Indie brands are the real disruptors in this market, forging ahead with actual CBD products from pillow mists (OTO) to lip gloss (Saint Jane). The need to stand out in an indie market over-saturated with personal care brands puts positive pressure on start-up companies to innovate and distinguish themselves. The new frontier of CBD provides just that opportunity. Indie brands are succeeding by finding novel uses for CBD that present a whole new paradigm for what a beauty product can do. Kana Vita, an indie luxury brand selling “clean”, top-quality beauty unguents formulated in a Swiss lab by “CBD experts with a background in Medical Cannabis”, is a prime example. 

With an increased emphasis on purity and consumer education, indie brands like Kana Vita ride a new wave of CBD products, in response to a call from discerning customers demanding more for their money. If Prohibition Partners’ projections for CBD beauty are accurate, this is a model that the larger brands would do well to emulate, when and if they decide to double down on CBD’s future in the beauty industry.


Noemi GonzalesNoemi GonzalesJanuary 27, 2020
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6min00

What a fantastic time to be alive! Back in my day, your choices for consuming cannabis we’re rather limited. People were not even talking about consuming CBD yet back then.

These days we are downright spoiled when it comes to different flavors, strains, concentrates, and different devices that allow us to imbibe THC and/or CBD.

Let’s talk about one of my new favorite vaporizers and why it has impressed me so much.

-About the Airvape X-

My journey to find a vaporizer that allowed me to get solid rips led me to discover the Airvape X.

The Airvape X is awesome for a variety of reasons but one of its facets really stood out to me. The ability to vaporize various oils, concentrates and even loose leaf is very appealing. Not needing a plethora of devices is very nice.

The convection and conduction combination technology that the air vape utilizes for the heating process takes about 20 seconds. The device will vibrate after the 20 seconds are up to let you know that it is heated up to your desired temperature and then after the heating period of 2 minutes has cool down it will vibrate again to let you know that it has turned off.

The 1.3 inch LED display allows you to keep track of the temperature and the battery level. You can adjust the temperature higher or lower depending on how thick of hits you prefer.

The concentrate stone allows you to use various liquids or oil concentrates in the Airvape X. It also comes with a few different screens to use. Refill screens are available via the Airvape website.

There are cleaning tools included in the Airvape X kit when you purchase it and the design makes it fairly simple to clean and maintain.

-What I Love about the Airvape X-

No more smoking! No more ashes! No more smoke smell!

With a higher temperature setting one may receive the big, milky rips that us classic consumers have come to love. Part of what drove me away from other vaporizing devices was the fact that the device felt like it was hitting too weak for me to enjoy.

The size of the Airvape X allows it to fit very comfortably in a pocket which makes it great for travel and outdoor activities.

We have been utilizing the Airvape X for over 2 years now, every day, multiple times a day. The battery still seems to work just fine. There has been a small degree of deterioration on one of the inner seals but it has not affected the performance of the device whatsoever.

-The Downsides-

Let’s review some of the less-than-stellar aspects of the Airvape X.

The battery life can be a challenge for heavy users. You can usually get three to five bowls, depending on the temperature setting, before needing to recharge the device.

The chamber size is somewhat small, so again, heavy users might find themselves slightly displeased with this.

I’m not wild about the rubber mouthpiece they use but that is optional to take on or off, we use it without the mouthpiece.

-Bonus-

But wait, there’s more!

This is one of my absolute favorite aspects of utilizing the Airvape X. The vaporized cannabis loose leaf is not reduced to ash as it is when you smoke it. Instead of throwing the vaporized herbs into the trash, you can save them and further extract THC from them by making homemade ganja butter with the remaining vaporized flower.

This means more bang for your buck as you are not literally burning up all of your flower and are able to double-dip, so to speak. This process allows you to maintain a consistent flow of homemade ganja butter without having to incur any additional expenditures.

It’s great with green tea and cinnamon!

-Summary-

The few minor flaws with the Airvape X are greatly outweighed by the many positive aspects of the vaporizer.

The change from smoking to purely vaporizing has a noticeable impact on the health of your lungs.

Strong rips, easy to clean, does not take long to charge, and we are happy campers over here.

When our own Airvape X unit dies out from our daily use then we plan to replace it with another considering how great it has been to have.

Check out this video of the Airvape being used so you can see for yourself how it works: https://www.youtube.com/watch?v=pus1s66aDR4&t=6s

You can also get your own Airvape X here: http://airvapeusa.com?aff=69

 

 

 


Julie AitchesonJulie AitchesonJanuary 23, 2020
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4min00

Just over a year from the date when the 2018 Farm Bill removed hemp from the list of controlled substances and legalized it for industrial growth, issues plaguing hemp producers in 2019 are coming to light. The most dominant pitfalls include a glutted market, unpredictable climate, problems with mold and pests, and a chronic shortage of adequate drying facilities.

Seasoned farmers are no strangers to these types of problems, but industrial hemp poses a new challenge: how to bring a crop in under the .3% THC limit mandated by the federal government.

In an October article by Chuck Abbot at www.agriculture.com, analysts at agricultural lender CoBank forecasted that changing federal regulations would make it difficult for growers to keep up with guidelines for testing plants for excess THC. The National Law Review published a piece on Jan. 19, 2020 entitled “Key Takeaways From USDA Final Interim Rules for Domestic Hemp Production”. (These interim rules are set to expire in 2021 and will be replaced by finalized regulations.)

The scope of the rules includes conditions for growing, processing and/or selling hemp, and requires an approved testing and sampling procedure to ensure that no plant exceeds .3% THC content. Unfortunately, the currently approved method focuses solely on identifying the THC content of the plant rather than its genetic profile (which can definitively identify the plant as hemp). Testing only for THC content leaves this undetermined.

A hemp plant can “go hot” (aka experience a spike in THC levels) due to using a new seed variety, environmental factors, or a plant left to flower for too long. This can lead to what the National Law Review article describes as “excessive non-compliance and crop destruction”, not to mention devastating financial losses for growers. Writing for local Denver publication Westword, Mathew Van Deventer reports that fourth-generation farmer Randy Taylor was forced to destroy eighty acres under hemp production when that hemp tested at .47% THC by the Colorado Department of Agriculture. The CDA is attempting to address this conundrum by approving and overseeing the development of industrial hemp seeds specifically engineered for low THC/high CBD content.

Theresa Bennett’s Q&A with Vote Hemp President Eric Steenstra at www.hempgrower.com  provides further insight into the issue. Steenstra shares that there has been almost a 500% increase in the number of people growing hemp nationwide over last year. These new growers are largely unfamiliar with the complexities of the genetic seed make-up required to keep THC in crops from spiking. As a result, buyers are favoring larger-scale operations with tested seed stock and reliable facilities, which edges new growers out of the market before they gain a foothold.

Despite the obstacle that regulations regarding THC content pose for unseasoned producers, industrial hemp still shows a profit margin generous enough to lure those willing to educate themselves and keep abreast of the changing guidelines into the industry. Hopefully, the lessons of 2019 will make for a less perilous and more profitable learning curve for aspiring hemp entrepreneurs in 2020.


Julie AitchesonJulie AitchesonJanuary 21, 2020
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4min00

To say that 2019 was a boom year for the CBD industry would be a massive understatement, and 2020 is primed to top the record sales and product innovation that have come to characterize this surging market.

On December 20, 2018, President Trump signed the Farm Bill into law, a move which removed hemp from the government’s controlled drug category and spurred farmers across the country to repurpose agricultural land previously used to grow feed and food crops such as corn and alfalfa for hemp varieties with high CBD and low THC (.3% or less) content. Farmers experiencing demand and profit surges since converting their land for hemp cultivation were profiled in a CNN report in April that projected sales of hemp products to be over 2.2 billion dollars by 2022.

Market activity in 2020 will go a long way towards determining whether or not hemp’s profitability can sustain its robust trajectory. Alexi Korybut, CEO of EcoGen Laboratories (one of the largest hemp manufacturers and suppliers in the U.S.) predicts that CBD consumers will skew increasingly Baby Boomer and become more conscientious about the quality and safety of the products they buy. Korybut also projects a greater focus on other cannabinoids such as CBG and CBN as their specialized effects become more widely known.

A 2020 forecast by Rich Maturo of information, data and measurement firm Nielsen predicts that cannabinoid education efforts, especially those targeted towards health care providers, will greatly increase in 2020. (Nielsen data shows that primary health care providers do more than any other demographic to drive brand loyalty and customer usage in the CBD market.) In addition, Maturo projects that CBD prices will fall while the number of hemp farmers entering the industry will continue to rise, as will the percentage of current farmers increasing acreage dedicated to hemp cultivation.

Despite these positive projections, the hemp industry has experienced its share of problems, as outlined in an October article by Iris Dorbian for Forbes.com. These issues include a lack of widespread, scientifically sound information about the legality and benefits of CBD products, which often deters retailers from carrying hemp products. In addition, changing regulations make it difficult for manufacturers and retailers to keep up as new data emerges about drug interactions and the viable use of CBD as a food additive.

The quality and efficacy of products vary greatly as consistent industry-wide standards are still in process. Dorbian cites a press release from CEO of ValidCare Patrick McCarthy, who echoes Alexis Korybut’s predictions of a growing emphasis on safety and quality, escalating Baby Boomer consumption, and interest in CBG and CBN as features of the hemp industry’s growth in 2020.

Though projections may vary, there do appear to be strong commonalities that provide a clarified, if not completely clear, view of what 2020 holds for the CBD/hemp industry.  What is clear is that the impact of hemp-derived cannabinoids will be felt in the health care industry, agricultural system, and consumer market far beyond the coming year.

 


Kaitlin DomangueKaitlin DomangueJanuary 15, 2020
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4min00

Last week, the office of Nikki Fried, the Florida Commissioner of Agriculture and Consumer Services, took control of CBD products consumed by people. New rules went into effect on New Year’s Day. Nationally, and in Florida, the lack of regulation with CBD products raised concerns among many. Some product labels contain inaccurate or misleading information, some do not get tested, and some products contain harmful additives. 

Fried, a Democrat, made cannabis and its regulation a vital part of her 2018 campaign. The same year, the Farm Bill went into effect, legalizing hemp with a THC content of less than 0.3% at the federal level. During the 2019 legislative session, lawmakers put the office in charge of creating the regulations associated with hemp, along with CBD products, sold at gas stations, grocery stores, and flea markets. Fried’s cannabis director Holly Bell told the News Service of Florida, “[Inspectors] are going out, looking at what’s on the shelf and if you are not compliant with those labeling laws, you will be given a certain amount of time to become compliant.” Those selling CBD have 30 to 45 days to comply with the law and must pay Fried’s department a fee of $650. 

The rules include guidelines on pesticides, how packages are labeled, and the inspection of products that are sold or produced in Florida. The hemp rules include “ingestion,” or “the process of taking food into the body through the gastrointestinal tract through eating or drinking.” The regulations say, “Food consisting of or containing Hemp or Hemp Extract must be obtained from an Approved Source. The Hemp Food Establishment shall provide to the department, upon request, a valid food license/permit and the most recent food safety inspection report from the Approved Source.” Bell adds that “Prior to these rules being adopted and taking effect, we didn’t have regulatory authority. Now we do, and we have that up and going so that we can make sure consumers are protected.”

There are three divisions of Fried’s department in control of the program. According to the department’s official website, “The Division of Agricultural Environmental Services will oversee issues related to seeds, fertilizer, pesticides and animal feed, The Division of Food Safety will oversee the processing, manufacturing and retailing of hemp and hemp extract, and The Division of Plant Industry will oversee cultivation and licenses to cultivate hemp.”  The site adds, “The Cultivation Rule should be filed for adoption in the first quarter of 2020. Please note that this rule is slightly delayed due to a need to align the Florida Cultivation Rule with the U.S. Department of Agriculture (USDA) final interim rules, which were released on October 31, 2019. FDACS still expects cultivation to happen in the first quarter of 2020.”

Those transporting hemp in any form in Florida must stop at one of the state’s 23 agricultural inspection stations and present a certificate of analysis showing the total THC content, as well as the bill of sale.

It is the cannabis industry’s hope that hemp and CBD products become well regulated on a national level in order to protect the consumer. 

 


StaffStaffJanuary 14, 2020
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2min00

Charlotte’s Web (OTC: CWBHF) is offering its first-ever CBD swap pop-up shop.  CBD was everywhere over the holidays and many people probably received gifts with CBD in it. Charlotte’s Web though believes that many of these products may be inferior to theirs and so in the spirit of post-holiday gifting, Charlotte’s Web is offering a chance to swap those gifts.

The company opened a 1500 square foot modern apothecary pop-up located at 219 NW 23rd Street Miami FL 33127 on January 8th and will stay open until Match 31st. It is a multi-activation brand experience that is part retail, part education center and part cultural space. The company said the pop-up will host a unique CBD SWAP program where attendees can trade in their unwanted CBD for a gift bottle of Charlotte’s Web, for free (until 2/1).

From 2/2 onwards, the pop-up space will operate as a full retail, educational, and social experience. Charlotte’s Web will announce Super Bowl activations in the coming weeks. Charlotte’s Web in-house agency designed the retail experience in partnership with Winston Retail.

 

How to Swap: (from 1/8 through 2/1)

  1. Bring CBD that you’re not too sure about to Charlotte’s Web pop-up shop.
  2. Enjoy learning about CBD while in the space, talk to the experts about how CBD works and what to look for when buying quality CBD products.
  3. Give your CBD to the representative.
  4. Receive Charlotte’s Web premium quality, full-spectrum hemp extract with CBD – for FREE.

StaffStaffJanuary 7, 2020
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6min00

A new consumer guide released by Leafreport.com compared over 3,500 CBD (cannabidiol) products — including tinctures, gummies, capsules, pet treats, topicals, isolates, vaporizers, and bundles — from more than 53 brands. The company’s purpose was to help consumers figure out their best choices when trying to make a purchase decision. This consumer guideline looks at quantity, potency, and prices of various CBD products.

It takes this a step further by then reviewing the prices in US dollars per mg of CBD and creating a 3-category price index. These were labeled “Bargain”, “Market” and “Pricey.” There was a 1,000% price discrepancy between the least and most expensive brands with the average price per mg of CBD coming in at $0.12. 

Tinctures

The least expensive brand was Plain Jane, with an average cost of $0.03/mg CBD. Leafreport said that “The company is not USDA certified and it is not clear what extraction method they use.” The most expensive brand was Diamond CBD, with a cost of $0.32 price per mg CBD, significantly higher prices in the lower potency tinctures. Leafreport also wrote that Diamond CBD was not USDA certified and uses CO2 extraction methods. 

The most common potency for tinctures that the guide found was 33.33 mg of CBD per mL. The lowest potency was  Diamond CBD at 0.83 mg/mL. Each 30mL bottle contains 24.9mg (~25mg) and costs $19.99, coming out to $0.8 per mg of CBD. The highest potency came from Medical Marijuana with its Maximum Strength 10g CBD Hemp Oil at 450mg/mL. 

Leafreport said, “There is a huge variation in price and often in potency with tinctures and with any CBD liquids. In general, companies that produce higher-quality CBD are often more expensive, but as this report shows, this is not always the case.”

Gummies

Gummies are slower to digest than tinctures, but the effects last longer. The average price for a CBD gummy product was $39 and the price discrepancy between the least and most expensive brands was 300%. The report determined that the average price per mg of CBD was $0.14. 

The least expensive brand was CBDIstillery, with an average cost of $0.07 per mg CBD. The company is not USDA certified and uses CO2 extraction. Followed by JustCBD, with an average cost of $0.07 per mg CBD. JustCBD is not USDA certified and uses CO2 extraction. 

The most expensive brand was luxury label Lord Jones, whose price of $0.28 per mg CBD  lived up to the premium brand style. Leafreport said that it does not have USDA certification. The manufacturer’s website provided no information on the extraction method used. 

When it came to potency, the report wrote that “most gummies jars/boxes contain around a total of 300 mg CBD. Individual items vary based on shapes and sizes in the package.” Green Roads sold the lowest potency with 25mg found in each CBD Froggie SOURZ and JustCBD offered CBD gummies in jars that have a total of 3000 mg of CBD per item.

More CBD Products Listed

The report went on to cover CBD for Pets, capsules, topicals, vapes & liquids and isolates in the same manner. In addition, Leafreport looked at bundle pricing and discount options. The report did note that pricing could be affected by several factors. It said, “Achieving certified organic status is neither easy nor cheap. It can be an expensive, years-long process. Some companies, like Charlotte’s Web, have been farming organically for years while others are completely new to the organic world. In some states, there is no provision for certifying industrial hemp as organic. Lazarus Natural’s in Oregon, for instance, grows their products organically, follows the rules of the Oregon Farm Bureau, but still doesn’t provide organic certification.”

It also added that not all extraction methods cost the same. “Most companies rely on either a traditional ethanol extraction or the newer and more expensive CO2 extraction method. Some companies use a combination of both.”

And finally, it noted that “some companies utilize 3rd party testing. While this gives consumers the ability to know what they are getting, it can ultimately be an expensive addition.”

 


StaffStaffDecember 20, 2019
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6min00

A group of hemp farmers including the U.S. Hemp Farming Alliance, First Crop, International Hemp Solutions, HiLo Seed, GenCanna and Farm Journal came together to form the U.S. Hemp Growers Association (USHGA), www.ushempga.org.  It is the only national farmer-directed hemp trade association and seeks to provide educational and market development resources, research, and networking opportunities and will unify the voice of farmers to actively engage in critically important advocacy efforts.

At launch, more than 300 farmer-members of U.S. Hemp Farming Alliance will fold into USHGA. Caren Wilcox will serve as the inaugural USHGA executive director. Wilcox is a well-known ag and food leader who has held executive roles at Hershey, the USDA and the Organic Trade Association. USHGA will meet in late February 2020 in San Antonio to secure founding partners and to install an initial board of directors. A majority of the board leaders will be active hemp farmers.

“I am honored to be a part of this historical moment in U.S. agriculture and lend my experience and expertise to the emerging commercial hemp industry as we develop this organization,” said Caren Wilcox, executive director for USHGA. “The forward-thinking industry leaders who have partnered on this endeavor see the potential for hemp as an agricultural commodity and understand this industry can contribute to the environment and sustainable products that benefit, at the grassroots level, farmers and consumers.”

“Industrial hemp provides a unique economic opportunity for farmers and all of rural America,” said Michael Bowman, cofounder of First Crop. “I am thrilled that First Crop is a founding partner of USHGA. Our focus is to promote regenerative farming practices to nurture the soil, not just for this year’s crop but for future generations, and hemp is one of the tools that will help us achieve these goals.”

Farmers and organizations interested in supporting U.S. agriculture’s role in the success of industrial hemp should go to www.ushempga.org to obtain more information or to sign up as a member of the organization.


Julie AitchesonJulie AitchesonDecember 18, 2019
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4min00

Whether as a critique of consumer culture, out of economic necessity, or as the marker of a hipsteresque devotion to all things local and artisanal, DIY (Do It Yourself) culture is alive and thriving in the U.S., and CBD is its newly claimed territory. Recipes for products ranging from gummies to facial scrubs and beard wax to candles and personal lubricant jostle for space online. Message boards teem with recommendations, refinements, and cautionary tales for CBD consumers looking to save, or earn, a few extra bucks by taking a walk on the manufacturing side. 

A small 30ml bottle of CBD oil can cost up to $300 depending on the quality and strength per dose. Many who find previously unattainable relief with CBD for ailments from the minor to the debilitating but struggle to afford the price tag of the more potent formulations are now buying CBD hemp flower by the gram and crafting their own products at home. 

The process in most cases is not overly onerous, although the hemp flower buds must be “decarboxylated” before use, which is an intimidating term that simply refers to the process of putting the hemp buds under low heat (between 225-245 degrees Fahrenheit) for about an hour in order to activate their chemical and pharmacological effects. Afterwards, the hemp buds are ready to be used for teas, cocktails, baking, infused into oil, etc. It sounds pretty straightforward, but there is still room for frustrating and costly user error to occur. Case in point, a month ago I was gifted a gallon bag full of CBD flower (about $500 worth) from friends who lease their land to a local CBD company for hemp cultivation. I was eager to take a stab at DIY CBD oil, and felt confident enough in my herbal training that I would end up with an abundance of potent medicine. My friends had already decarboxylated the buds, so all I needed to do was borrow my parents’ crock pot (mine was far too small), add the buds and some olive oil, and set the whole thing on “low”. Unfortunately, the “low” setting on my parents’ ancient crockpot was sufficient to burn my lovely little buds to brittle black bits. The contents ended up smelling like a Thanksgiving dinner gone horribly wrong- a Thanksgiving dinner made from $500 worth of groceries. 

My own plans for consuming and gifting homemade CBD oil might be temporarily on hold, but there are still plenty of would-be makers and entrepreneurs out there eager to get into the CBD game. The abundance of articles like this Business News Daily how-to for starting one’s own online CBD business point to a burgeoning participation in this exploding market. If a recent study cited by Iris Dorbian in Forbes Magazine is accurate and the CBD market could indeed surpass $20 billion dollars by 2024, there is plenty of room for DIYers and entrepreneurs alike to work for CBD, and make CBD work for them. 

 



About Us

The Hemp Market Report will target news from the fast growing worlds of cannabidiol (CBD) and hemp. As a sister site to the Green Market Report, HMR will cover financial stories, but also take a look at lifestyle news as well. The Hemp Market Report will also publish sponsored content as we seek to expand our content offerings.


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