Latest Report Shows Quickly Increasing Number of Consumers Using CBD Infused Products
PALM BEACH, Florida -- April 2, 2019 -- InvestorsHub NewsWire -- Financialnewsmedia.com -- 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").
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