FinancialBuzz.com: Growing Demand for Hemp Infused Products
9:20 am ET February 13, 2017 (PR Newswire) Print
The legal cannabis market in North America is growing rapidly due to the accelerating pace of cannabis legalization in the United States. According to a report published by Market Research Future, eight states in the United States are already legal for recreational use of cannabis, including Alaska, Colorado, Oregon, Washington, Nevada, Massachusetts, Maine and California. According to the report, growing demand for hemp in food and baby care products is another factor that could escalate the market for industrial hemp. Naturally Splendid Enterprises Ltd. (OTC: NSPDF) (TSX-V: NSP.V), Cannabis Sativa Inc. (OTC: CBDS), CV Sciences Inc. (OTC: CVSI), Lexaria Bioscience Corporation (OTC: LXRP), Medical Marijuana Inc. (OTC: MJNA).
The report indicated that rapid legalizing and growing awareness about the medicinal properties of cannabis to boost the cannabis market. the North American market size of cannabis stood over $3.5 billion in 2015. It is expected to expand at a CAGR over 33 percent over the period of 2016 to 2021. The expanding industry of legal cannabis could provide opportunities to other business and boost economic actives.
Naturally Splendid Enterprises Ltd. (OTCQB: NSPDF) (TSX-V: NSP.V) is a multifaceted biotechnology company developing, commercializing, producing, selling, and licensing an entirely new generation of hemp-derived, high quality, nutrient-dense Omega foods, nutritional food enhancers, and related products. Together with its partners are building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and cannabinoid compounds in a broad spectrum of applications.
Earlier today Naturally Splendid Enterprise announced that the, "results from the previously reported dog food study conducted by the Food and Bio-processing division of Alberta Agriculture and Forestry. Naturally Splendid received the results from the dog food study on Feb.6th, 2017. The study was conducted by Dr. Xiangfeng Meng and her team at the Food Science and Technology Centre, a branch of the Food and Bio-Processing branch at the Alberta Agriculture.
Through this study, Naturally Splendid's proprietary encapsulation process, has now been proven to protect the omegas, minerals and vitamins naturally expressed in hempseed oil through the manufacturing process. By protecting the nutritional profile of the hemp oil, Naturally Splendid is developing a competitive advantage over the current methodology and techniques for adding omega nutrition to canine food formulations.
Naturally Splendid CEO Dave Eto states, "The objective of this study was to confirm that our proprietary technology used to manufacture HempOmega(TM) would allow for this omega rich ingredient to be added to canine foods thus; creating a competitive advantage for Naturally Splendid over existing omega ingredients for this sector. The results from this study have confirmed that our omega formulation technology can be used to infuse canine foods."
Naturally Splendid President Mr. J. Craig Goodwin reports, "While waiting for the written report from this study, Naturally Splendid has been proactive in identifying potential clients for this unique omega ingredient in a range of canine food applications. We are already in an advanced stage of discussions with a significant North American canine food processor for inclusion into their line of canine foods as well as to collaborate on further development and applications of HempOmega(TM). There is also opportunity for HempOmega(TM) to be available as an ingredient for private labelled canine food lines as well.""
"...Naturally Splendid CEO, Dave Eto adds, "We are excited with these tests results that confirm that HempOmega(TM) is a viable ingredient to satisfy a demand for this type of product in the pet industry. According to Euromonitor, nearly all the pet food sales growth in the US is coming from premium products, which comprise at least half the market in North America. This "premiumization" of pet foods, which includes higher-priced pet foods in traditional formats such as dry and wet products, as well as newer, high-density, freeze-dried and dehydrated foods, are all potential applications for HempOmega(TM)."
CV Sciences Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic cannabidiol and, a consumer product division in manufacturing, marketing and selling plant-based cannabidiol products to a range of market sectors. The company's brand, PlusCBD Oil(TM), is the company's top-selling brand of hemp-derived cannabidiol oil for consumers in the natural products industry. Its PurifiedLiquids(TM) is CV Science's newest addition to their consumer products portfolio that offers cannabidiol vape e-liquids in different flavors.
Lexaria Bioscience Corporation (OTCQB: LXRP) is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol, other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs, nicotine and other molecules.
Real Scientific Hemp Oil (RSHO), a product of premier cannabis and hemp industry, Medical Marijuana Inc. (OTC: MJNA) had recently secured approval in Brazil to treat a patient with Alzheimer disease. This will further expand the medical conditions for which Brazil allows the oil to be used. According to CFN Media Group, RSHO is a full-spectrum CBD oil extracted from hemp plants grown in Northern Europe without the use of herbicides, pesticides, or chemical fertilizers, and the final product is triple lab tested at ISO/IEC 1725:2005 accredited food safety labs. Strict EU regulations ensure that the hemp oil is extremely pure prior to export, while the products pass all federal requirements for importation into the U.S. and are available in over 40 countries around the world. The Brazilian government's decision to authorize a doctor's prescription for hemp-based CBD oil for the treatment of Alzheimer's disease acknowledges its potential as a treatment.
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