HempAmericana also owns and operates a high-capacity CBD extraction and processing facility in Augusta, Maine
CBD product company HempAmericana Inc. is launching its new Smokable Hemp Flower line in November, with packaging and retail distribution agreements currently in the works.
The company notes that the smokable hemp flower market is gaining traction in the CBD marketplace as new research points to strong confluence among its applicability for opioid addiction therapy; its role as a substitute for vaping, given recent concerns about the vaping industry; and its high-potency potential as a general pathway for the overall wellness benefits of CBD intake.
“The smokable hemp flower market has really started to take off, according to our research," says Salvador Rosillo, CEO of New York-based HempAmericana. "We are extremely well positioned to take advantage, given our deep experience in hemp and hemp cultivation. This is a higher-margin segment, given the lack of extraction and processing costs, and we plan to seize it with both hands.”
Research from Chicago-based Brightfield Group shows that the market for smokable hemp flower is projected to grow to $70.6 million in 2019, up from $11.7 million in 2018, representing a year-over-year growth rate of over 500%, which strongly outpaces other segments of the overall CBD market.
Hemp was legalized in the United States in December 2018.