CROP Infrastructure Partners to Develop Hemp-based Product Line
Ryan Allway
August 22nd, 2018
Exclusive, News, Top Story
Cannabis is generating a lot of attention across North America, but investors shouldn’t ignore the iconic plant’s close cousin—Hemp. While hemp doesn’t have the psychoactive properties that make cannabis appealing to some consumers, it’s a legal source of non-psychoactive cannabidiol (CBD), and has other properties applicable to a wide range of industries including cosmetic, therapeutic, food, textile, and industrial applications.
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) recently signed a letter of intent with Naturally Splendid Enterprises Ltd. (TSX-V: NSP) (OTC: NSPDF) to develop and manufacture hemp seed, hemp protein powder, and hemp oil products to be sold under it’s The Hempire Co. and Tiffany brands.
The Growing Market for Hemp
Revenue from hemp products’ sales grew 16 percent to $820 million last year, according to the Hemp Business Journal. Hemp-based CBD products accounted for nearly a quarter of the market, while the remaining three-quarters of the market was divided between personal care products, industrial applications, food products, textiles, supplements, and other consumer products.
The analyst firm believes that hemp-based product sales will reach $1 billion by 2018 and hit nearly $2 billion by 2022, representing a four-year compounded annual growth rate of 14.4 percent.
The global market for hemp-based products is expected to be much greater. According to Grand View Research, the industrial hemp market is projected to reach $10.6 billion by 2025, representing a 14 percent compound annual growth rate. Rising demand for hemp in food and beverages, as well as growing awareness of the dietary benefits, is expected to propel demand for the plant’s compounds across a wide range of industries.
Proven Technology + Strong Distribution
CROP Infrastructure has partnered with Naturally Splendid to create a variety of retail hemp products that will be marketed and distributed through CROP’s growing distribution network.
The products will be initially focused on hemp seed, protein, and oil. And will be expanded to include CBD-fortified products as regulations evolve to permit cannabis extracts in food. In addition, the products will feature Naturally Splendid’s HempOmega™—a soluble powder created from microencapsulated hemp seed oil that delivers essential omega-3 and omega-6 fortification with greater bioavailability than competing products.
“We are excited to be working with Naturally Splendid who was an early mover in the Canadian hemp market,” said CROP CEO Michael Yorke in the press release announcing the deal. “We believe in the nutritional spectrum and health benefits of hemp and adding a consumer goods vertical was a logical progression, as consumer data shows strong trends in plant-based foods and nutritional products.”
Naturally Splendid will begin distribution of its new branded products in four countries, including Canada as well as three U.S. states, where it has well-established operations.
Looking Ahead
CROP Infrastructure Corp.’s (CSE: CROP) (OTC: CRXPF) partnership with Naturally Splendid to bring innovative new hemp products to market is expected to open the door to new revenue opportunities. With a portfolio of 15 cannabis brands and distribution rights to a line of over 50 cosmetic/therapeutic cannabis products, CROP is uniquely positioned as a leader in the hemp and cannabis branding space.
In addition to these brands, CROP provides turnkey real estate solutions for lease-to-licensed cannabis producers and processors. CROP’s portfolio of projects includes cultivation properties in California, Washington State, Nevada, Italy, and Jamaica. CROP also holds joint ventures on West Hollywood and San Bernardino dispensary applications.
For more information, visit CROP’s website at www.cropcorp.com.
Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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