And those choices are soon likely to become even more confusing: The CBD market is expected to multiply at least sevenfold by 2021, to $2.15 billion, up from $292 million in 2016, according to the Brightfield Group, a market research firm that specializes in cannabis. Even Coca-Cola says it’s “closely watching” the growing interest in CBD and its potential as an ingredient in some of the company’s beverages.
The are no guarantees regarding the income from the MyDailyChoice/HempWorx opportunity. The success or failure of each Affiliate, like in any other business, depends upon each Affiliates’ skillset and personal effort. Earning levels for Independent Affiliates are examples and should not be construed as typical or average. Income level achievements are dependent upon the individual Affiliates business skills, personal ambition, time, commitment, activity, and demographic factors.
It is important that the CBD is actually dry during processing and added to hemp oil as a natural carrier. This process allows us to maintain the FDA and legal standard guidelines of Zero THC. Our competitors typically will use coconut oil, palm oil or a non-relative carrier for dried CBD. Do not be confused by the carrier of hemp oil. Our product is CBD Oil. Other competitors disregard the legal standard and you get unregulated, high amounts of THC in your product. With HempWorx you get the benefits of CBD without the downside of THC and remain compliant. Our CBD is grown in Kentucky and tested in an FDA approved facility.
While there are not many studies to back up their claims yet, many people are finding relief from a lot of different illnesses like multiple sclerosis, migraines, epilepsy, seizures and more from the use of CBD oils and other CBD products. When you’re talking about marijuana, especially in a medical sense, there are two primary chemicals that are most often discussed. These chemicals are CBD and THC. THC is the chemical that most people are familiar with as it’s the one that generates the “high” effect when people consume marijuana.
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.
Now I had to address how I was going to market these products effectively without selling to family and friends. What I learned is that some of the top producers in the company were using social media and other internet marketing to sell the products and business opportunity. Then I realized there is a wholesale program so I could also sell to retailers such as dispensaries, vape and head shops, natural health food stores, alternative medicine practitioners and the list goes on. I could also share the products through meetup groups, doing events, etc. so there are no shortage of ways to market the HempWorx CBD products.
“As we researched hemp food products, the majority of it was as a base ingredient for shakes and smoothies,” says Dolgin. “We believe the next iteration of the hemp market is to go into snack foods, to give it wider penetration into households,” he says. “We’re looking at products like ice cream and beer. We already have a pretty broad product portfolio, and we want to get even more innovative.”
But why is hemp illegal in the first place? After all, America was built on hemp, an industrial crop which contains tiny amounts of THC, the chemical compound in cannabis that produces psychoactive effects. Several Founding Fathers grew hemp. Cultivation of hemp was mandated by law in the Massachusetts, Virginia and Connecticut colonies. Beginning in 1631, hemp was legal tender for paying taxes in many of the American colonies and remained so for state taxes until the early 1800s.
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.