- MCOA focusing on non-psychoactive hemp cultivation and product markets
- Hemp industry’s predicted five-year CAGR of 25 percent expected to take it to $2.6 billion by 2022
- hempSMART Face marks subsidiary’s extension into cosmetic products arena
Progressive trends in the adoption of hemp-derived products continue to boost the prospects of Marijuana Company of America, Inc. (OTC: MCOA) and its hempSMART™ brand, which announced on June 19 the rollout of its latest cannabidiol-derived cosmetic product for people seeking an all-natural botanical moisturizer.
The hempSMART™ Face product marks Marijuana Company of America’s expansion of its hempSMART™ brand into the cosmetic products space, building on a portfolio of legal CBD-based wellness innovations. The company states that each bottle of its hempSMART™ Face (http://cnw.fm/nS7Qd) contains 150 mg of full-spectrum, non-psychoactive cannabidiol (CBD) oil derived from the industrial hemp plant. The new topical nourishes facial skin with ayurvedic herbs and botanicals that contain omega 3, 6, 7 and 9, as well as “synergistic ingredients” such as organic aloe, sabi inchi oil, argan kernel oil, macadamia seed oil, rose hip seed oil, pomegranate seed oil, tulsi, turmeric oil, frankincense, ashwagandha, sweet potato root extract, coconut oil and sea buckthorn oil.
As hemp and its derivatives gain renewed attention and popularity throughout the world, market forecasters are anticipating a boom in the CBD product market. The U.S. hemp industry is expected to reach $2.6 billion in consumer interest by 2022, with a remarkable five-year CAGR of 25 percent as regulatory barriers are removed, according to the Hemp Business Journal (http://cnw.fm/IjUV5). The worldwide health and wellness industry, including CBD products, already measures in the trillions of dollars and has an anticipated five-year CAGR of 17 percent (http://cnw.fm/p4pBU).
Canada recently became the second country in the world to legalize marijuana for its full spectrum of recreational and medicinal uses following a Senate vote on June 19, with a waiting period for the nation’s provinces and territories to implement local ordinances before the act becomes official on October 17 (http://cnw.fm/sjy7R).
Hemp has seen its star rising without the same degree of controversy. U.S. Senator Mitch McConnell spearheaded hemp cultivation policy experiments under the Agricultural Act of 2014 (http://cnw.fm/rK5F5) and built on their successes to introduce new legislation to legalize the cultivation of industrial hemp under the Hemp Farming Act in the 2018 Farm Bill, which was recently passed in Congress (http://cnw.fm/W8WKb).
Marijuana Company of America is focusing its efforts on non-psychoactive hemp cultivation and product marketing, and it has joined with Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) to develop 125 acres in New Brunswick, as well as 35 acres in Oregon for hemp cultivation. The New Brunswick project is expected to grow to more than 1,000 acres of hemp in the next three years, and the Oregon project will grow to about 109 acres of hemp, plus the addition of five greenhouses currently under construction to give the site a year-round operation (http://cnw.fm/uex6I).
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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