You are here
Latest Report Shows Quickly Increasing Number of Consumers Using CBD Infused Products
PALM BEACH, Florida, April 2, 2019 /CNW/ -- While article after article describes the "newest" CBD infused product to hit the market, recently a report finally addressed the status of consumer behavior and consumption habits. In a research report released this February, titled: "What Do U.S. Consumers Think About CBD-infused Products?" the authors: "… asked a census-balanced survey of U.S. adults if their opinions toward marijuana legalization have changed in the last five years. In this short amount of time, public perception has largely evolved: 46% said that they are more open to legalization, and only 8% said they've become less open to it. Overall, nearly 50% of respondents said that marijuana should be legalized for both recreational and medicinal use. As consumers' opinions become increasingly positive, they are exploring other compounds of the cannabis plant, including CBD. Fifty-eight percent of survey respondents said they are somewhat, very, or extremely familiar with CBD, while only 14% had never heard of it. Men are more familiar with CBD than women, with 65% reporting at least some familiarity compared to 51% of women. Adults in age cohorts 25-34 and 34-44 are the most aware, with 70-71% in each group reporting at least some familiarity. Survey members living in the Northeast reported the highest level of awareness of any region, followed by the West. Active Companies from around the market with current developments this week include: GD Entertainment And Technology (OTC: GDET), Marijuana Company of America, Inc. (OTC: MCOA), Medical Marijuana, Inc. (OTC: MJNA), Hemp Inc. (OTC: HEMP), Namaste Technologies Inc. (TSX-V: N) (OTC: NXTTF).
Despite fairly high awareness, only 24% of respondents said they've used a CBD product; 70% said they have not. Men were significantly more likely to try CBD than women, at 31% compared to only 16% of women. Adults between the ages of 25 and 34, followed by those ages 35-44, reported the highest usage levels, at 39% and 31% respectively. Overall, most survey participants (45%) said they would not be willing to try any product containing CBD. However, 29% of respondents said that they would be most likely to try an edible. Lotions/Creams/Balms was a close second, at 27%, followed by oil extracts (22%), capsules/pills (22%), and beverages (18%). Of respondents who have tried CBD, 48% used an oil extract. Vape pens was the second most popular CBD-infused product at 37%, followed by edibles (36%), and capsules/pills (29%). Among adults in age cohort 18-24, vape pens were the most popular form of CBD use, whereas oil extracts were most popular for all other age groups.
GD Entertainment And Technology (OTCPK: GDET) BREAKING NEWS: GD Entertainment & Technology today introduced its all new hemp derived CBD products that will be for sale under the Company's new "The Greenery" label with an official launch date scheduled for April 20th, 2019, the annual 420 celebration day for cannabis liberalization. With the legalization of hemp farming in the United States under the 2018 Farm Act recently signed into law by President Trump, GDET's CBD products are all made in the USA. The products are also Kosher and Halal compliant. The initial product line from The Greenery includes two gel caps, one oil and one salve which are all Non-GMO, Eco friendly and full spectrum. The CBD market is anticipated to reach $22 billion by 2022. Read below to learn more about GDET's first CBD products.
The Greenery product line will initially consist of four products. Plans call for the product line to expand over time. The first four products are all Made In The USA, Full Spectrum, Kosher, Halal, NON-GMO, ECO Friendly, and Organic. Read this and more news for GDET at: https://www.financialnewsmedia.com/news-gdet/
In the industry developments and happenings in the market this week include:
Marijuana Company of America, Inc. (OTCQB: MCOA) an innovative hemp and cannabis corporation, and its Joint Venture partner Global Hemp Group (GHG) (GBHPF) (FSE: GHG) (together with the Company, the "Partners") recently announced that they are currently in negotiations with several cannabinoid extraction companies in Oregon, USA, regarding the acquisition of the joint venture's hemp biomass produced at the Scio farm from the 2018 harvest. The team at the Scio farm has prepared processing samples ranging in size from 100 lbs to 2,000 lbs. for the extraction companies. The biomass is being processed into CBD crude oil with the option to refine it further into isolate, or full spectrum oil, in order to increase its value on the market. Results from the current extraction test batches are expected to be received by mid-April and will serve as a basis for the final terms of the sale of the biomass by the Partners.
Medical Marijuana, Inc. (OTCPK: MJNA) the first publicly traded cannabis company in the United States, recently announced that its subsidiary HempMeds® Brasil will be sponsoring TEAbraco 2019 International Autism Week from April 1 to April 7 at the Iguatemi Mall in Ribeirão Preto, Brazil.
"As a company, we see events like this one as prime opportunities to educate the people of Brazil about the history of medical cannabis, the difference between hemp and marijuana and our cannabidiol (CBD) products and their potential benefits," said HempMeds® Vice President Caroline Heinz. "In Brazil, CBD is legal to be imported and is even subsidized by the Brazilian Government for several indications including autism. We hope to inform people at the event of this because even though legislation passed a few years ago, there are still many citizens who don't know that they may already be eligible to receive CBD at no cost."
Hemp Inc. (OTCPK: HEMP) a global leader in the industrial hemp industry with bi-coastal processing centers including the 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, a state of the art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona, recently announced that the company and its subsidiary, The Hemp University, received notable media coverage from Southern Oregon television stations CBS10 and NBC5, discussing the successful west coast educational seminar.
Namaste Technologies Inc. (TSX-V: N.V) (OTCQB: NXTTF) late in March announced that it has completed the previously announced acquisition of 49% of the common shares of Toronto -based Pineapple Express Delivery Inc. ("Pineapple Express"). In June 2018, the Company announced that it had entered into a subscription agreement to acquire 15% of the common shares of Pineapple for $1,000,000 which comprised of $850,000 in cash and $150,000 in Namaste common shares (the "Subscription Agreement"). In December 2018, the Company announced that it had entered into a binding agreement (the "Purchase Agreement") with shareholders of Pineapple Express to acquire an additional 34% of the outstanding common shares of Pineapple Express. Pursuant to the terms of the Purchase Agreement, the Company issued the selling shareholders of Pineapple Express such number of Namaste common shares having an aggregate value of approximately $3.06 Million, based on the closing price of Namaste's common shares on the TSX Venture Exchange on December 14, 2018 (the "Transaction").
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated forty nine hundred dollars for news coverage of the current press release issued by GD Entertainment & Technology by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.