The final concern to address - was the market high growth with not much competition or was it slow growth with a lot of competition or somewhere in between? This was easy and compelling to determine. One look at Google trends showed the clear demand for these products seen in graph below. Another credible source, Forbes, predicts growth of the cannabis industry to be over 700% by 2020 - in fact, no other industry is growing faster. I also looked at the competition and compared the quality of products, their pricing, marketing, etc. and found that HempWorx was a clear leader. But what about competition - was it saturated or was their room to get in and make it work? Using a variety of metric tools, I figured out that it was definitely still quite early to be venturing into this market and the opportunity for growth without a lot of competition will be available for quite some time.
Aqua, Allantoin, Aloe Barbadensis (Aloe Vera) Leaf, Glycerin, Xanthan Gum, Cetearyl Glucoside, Glyceryl Stearate SE, Cetyl Alcohol, Simmondsia Chinensis (Jojoba) Oil, Polea Europea (Olive) Fruit Oil, Caprylic Capric Triglyceride, Cannabis Sativa (Hemp Seed Oil), Theobroma Cacao (Cocoa) Seed Butter, Butyrospermum Parkii, Stearyl Alcohol, Sodium Hyaluronate, Camellia Sinensis (Green Tea) Leaf Extract, Gluconolactone, Sodium Benzoate, Calcium Gluconate, Pyrus Malus (Apple) Fruit Extract, Phytocelltec Malus Domestica
So for now, Green Roads, like other private businesses in this market, is girding for the day when it will have to compete--or collaborate--with the larger players they are sure will enter the fray. (Even Coca-Cola is rumored to be developing a CBD product.) Green Roads, for example, is involved in a pilot program with the University of Florida to bring hemp farming back to the state to bolster its profile, connections, and potentially, supply. Another CBD company, Dr. Kerklaan Therapeutics, joined together with three manufacturing facilities to create a larger entity that would interest investors; they raised $15 million.
Subcritical CO2 extraction technology allows us to extract all of the nutrients, without using any heat or harmful solvents. The result is a high potency, whole food CBD Oil with exceptional nutritional qualities. Hempworx CBD oil contains all the CBD’s and 400+ other nutrients that work synergistically in an easy-to-use, easy-to-absorb form. Most CBD companies use solvents to perform extraction potentially destroying the potential therapeutic benefit of the whole cannabis phytocomplex. There are more than 400 phytonutrients in hemp.
As with any product, it is ultimately up to the consumer to do research about a specific product or brand they want to support. In the hemp industry there is a lot of competition, and rightfully so, as this is set to become a multi-billion-dollar industry in the next few years. HempWorx claims to sell among the best quality CBD products in the world, and they offer an MLM program for interested affiliates.
Hemp extract is taken from the whole plant and contains higher levels of CBD than hemp seed oil. This is where the CBD levels come from. However, we are confused by the labeling. If we expect the 500 product to have 500 mg of CBD, are we right? The label shows 500 mg of ‘phytocannabinoid hemp oil’. The solution is that about 160% of that is CBD, with the other cannabinoids as a tag along. This is effective.
4. Is Hempworx CBD oil the “world’s purest CBD oil” or the “best CBD oil on the market?” No. This is a claim that we often hear made by brand ambassadors selling Hempworx. Some of them also criticize the ingredients of other brands and claim they are inferior to Hempworx. In reality, there is no evidence we’ve seen that supports these claims. Hempworx is not fundamentally different in any way from most of the other products on the market. Claims to the contrary are just hype to manipulate uneducated consumers to buy Hempworx so they make their commission.
1. Is Hempworx a scam? No. CBD oil scams do exist whereby consumers are deceived and grossly overcharged for a poor quality product. Hempworx is a real product of reasonably good quality that is sold to customers that willingly purchase it. Hempworx does sell its products through multi-level marketing (MLM). This is the same sales strategy used by companies like Avon, Doterra, Rodan & Fields, Advocare and a host of others. Each sale is credited to one of their affiliates who receive a commission for the sale. Affiliates are also incented to recruit new affiliates to sell the product. While the MLM business model can be controversial and the authenticity of testimonials from those selling the product can be questioned, that doesn’t make it a scam.
"[Legalization] is paving the way for a massive expansion to both the agricultural industries and a spectrum of industries in America," Beckerman said. "[It opens] ancillary service providers from every industry like banking, insurance, finance, merchant processing and packaging labeling distribution. And we're talking about improving products by blending in the superior properties of hemp."
To summarize, we would say that HempWorx CBD oils are pretty standard in terms of effectiveness, and perhaps even a good value in terms of price compared to some of the more popular brands in the US. While they’re probably not the best we’ve ever had, they’re by no means the worst either. And of course, the company offers fast, reliable shipping to all 50 U.S. states.