HEMP FIBER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market News

Recent Developments:

New product launches:

• In September 2022, Ananda Food announced the launch of Ananda Hemp Extract Oral Spray to expand its nutraceuticals product portfolio. The hemp extract spray is claimed to help in stress management and exercise recovery. Ananda Foods Ltd. is an Australian-owned company with a focus on hemp seed production. The company takes pride in its products and has over 20 years of experience working alongside Australian farmers to ensure the production of high-quality hemp products.
• In June 2021, Hempfusion Wellness launched CBD 5:1 tinctures in a raspberry lemon flavor to expand its existing product line of tinctures. The new tincture combines full spectrum CBD with CBG and CBN. HempFusion Wellness Inc. is a leading health and wellness supplement company that specializes in the manufacturing, marketing, and sale of hemp-based CBD and probiotic products.
• In May 2020, Canopy Growth Corporation launched First & Free, a hemp-derived CBD product line including oils, softgels and creams. The product range is THC-free and caters to health, wellness and self-care needs. Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario, Canada. In April 2019, Canopy was the world's largest cannabis company, based on the value of all shares, or market capitalization.

Acquisition and partnerships:

• In March 2022, HempFusion announced a partnership with earthday.org to sponsor the brand's regeneration campaign focused on environmental sustainability. HempFusion Wellness Inc. is a leading health and wellness supplement company that specializes in the manufacturing, marketing, and sale of hemp-based CBD and probiotic products. Earth Day Network Inc., also known as EARTHDAY.ORG, is a 501(c)3 nonprofit organization and the standard-bearer for Earth Day. It is the world's largest recruiter to the environmental movement, working with over 75,000 partners in more than 190 countries to drive positive action for the planet.
• In February 2021, Canopy Growth Corporation completed the acquisition of Supreme Cannabis Company to expand its product portfolio and distribution. Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario. In April 2019, Canopy was the world's largest cannabis company, based on the value of all shares, or market capitalization. The Supreme Cannabis Company, Inc. was a global diversified portfolio of distinct cannabis companies, products, and brands. Since 2014, the company had emerged as one of the world's most premium producers of recreational, wholesale, and medical cannabis products.
• In January 2020, Charlotte's Web announced a distribution partnership with The Vitamin Shoppe for its hemp CBD topical creams, gummies and oil tinctures. Charlotte's Web Holdings, Inc. operates as a holding company. The company, through its subsidiaries, provides wellness products such as capsules, liquid, and topical items for phytocannabinoids , terpenes, and flavonoids diseases. Charlotte's Web Holdings serves customers worldwide. The Vitamin Shoppe is an American, New Jersey-based retailer of nutritional supplements. It also operated three stores in Canada under the name VitaPath from January 2013 until March 2016.