Hemp, the plant, is traditionally known for its use in textiles and ropes. That’s because of its strength: After about three weeks of growth, a hemp stalk will be so sturdy it’s almost impossible to break, because the fibers are so long and strong. But for culinary products, it’s the seeds that are all-important. After they’re pressed to produce oil, the resulting byproduct can be processed into a flour from which products like pasta can be created. JD Farms has also started cultivating young hemp leaves into salad mixes.
Certainly, there is no shortage of opportunities to commercialize hemp. But until hemp is treated as an industrial crop that can grow freely, businesses won’t thrive. Many states have already taken steps to legalize and jump-start their local hemp economies, but the industry won’t scale until the federal government passes legislation that protects farmers and entrepreneurs from archaic and nonsensical narcotics regulations. Until then, this is a great time for entrepreneurs to start planting the seeds of their hemp ventures.
Hemp Business Journal has also reviewed sales of clothing, auto parts, building materials and various other products, and estimates the total retail value of hemp products sold in the U.S. in 2017 to be at least $820 million, including hemp foods (17%); personal care products (22%); textiles (13%); supplements (5%); hemp derived cannabidiol or CBD products (23%), consumer textiles (13%); industrial applications (18%); and other products such as paper and building materials accounted for the remaining 2% of the market.
As you comb through the web pages, it’s clear the product is meant for a multi-level marketing scheme. Many of these companies do not expect anyone to actually use the product. They just want people who will buy it in hopes of selling it to someone else. One previous potential customer has said he could not buy the product, as the company demanded a referral. This means multi-level marketing might be their main business. This can lead to problems getting the product for regular consumers, though they do have an option to sell directly to the consumer as well on the website.
Although the HempWorx ‘About Us’ page is filled with excellent information on the history of CBD, there is unfortunately little data about the actual organization itself. We did learn, however, that they use “special” supercritical technology that extracts over 400 phytonutrients from the raw hemp material, and that they don’t use any harmful solvents or heat, which is of course a good thing.