Hemp Depot Achieves 10,000% Growth and Forecasts Top CBD Market Opportunities
DENVER--(BUSINESS WIRE)--Nov 6, 2019--
Hemp Depot, one of the largest providers of premium-quality hemp CBD oil products in the United States, has measured 9,621% growth from 2016 to 2018 per the Denver Business Journal and been named the area’s fastest-growing business.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191106005205/en/
Hemp Depot maintains the largest hemp CBD seed inventory in the U.S. Co-Founders Luke Pickering and Andy Rodosevich pictured with $16.5 Million in CBD seeds. (Photo: Business Wire)
Cracks emerging in Europe's united front to battle climate change
Baby eels remain one of America's most valuable fish after strong year in Maine
Mechanical sails? Batteries? Shippers forming 'green corridors' to fast-track cleaner technologies
Phoenix area counts 4 heat-related deaths so far this year, 425 last year
Hemp Depot credits serving more than 2,400 wholesale customers with the highest quality CBD at the best value price in the market as the primary catalyst for its dramatic growth.
“Hemp Depot projects an 18 to 24-month lead ahead of fellow CBD manufacturers due to our infrastructure, certifications, seed genetics, and 100% vertically integrated business that enables the company to meet nearly any wholesale customer need much more quickly than our competition,” explains Andy Rodosevich, CEO and co-founder of Hemp Depot.
“CBD distribution is forecast to follow the same path as products in the vitamin and supplement industry. Anywhere that you see vitamin C, you should expect to have an array of CBD product choices,” Rodosevich continues.
“CBD products will be in national grocery stores, gas stations, and supplement stores, and we will soon begin to see CBD make a big play in the cosmetics industry, opening the door to CBD products proliferating anywhere cosmetics or skincare products are now sold.”
The power of Hemp Depot’s seed genetics combined with managing every step of the CBD production process under a single roof enables them to produce some of the highest quality CBD products in the U.S. at the most competitive price, with 7,400 white-labeled products on retail, drugstore, medical office, and luxury retailer shelves nationwide.
“Wholesale order numbers are climbing dramatically, which is one of the first signs of significant market expansion,” Rodosevich explains. “When Hemp Depot started, we were taking orders for 500 units at a time. Average large company white-label CBD orders are projected to reach in excess 100,000 units in the next 18 months. That CBD market increase is going to allow wholesalers like Hemp Depot to manufacture products on a larger scale, thereby reducing CBD product prices by the end of 2020 to be closer to standard vitamin supplements.”
The Denver Business Journal measured the fastest-growing Denver metro area business in five size categories from extra-small to extra-large. Hemp Depot won the top spot in the small class, with a growth percentage more than 9,000% higher than the next-highest recognized winner in any category at this year’s ceremony.
About Hemp Depot
Hemp Depot provides the highest-quality hemp CBD oil, hemp seeds, and hemp clones in the U.S. Hemp Depot cannabinoid products deliver the highest degrees of purity and strength in the consumer and wholesale CBD market, with all products grown, formulated and processed in Hemp Depot’s facilities in Colorado. As one of the first 13 producers to be certified by the U.S. Hemp Authority, Hemp Depot is one of the nation’s largest and most trusted hemp brands specializing in seed genetics, planting, harvesting, formulating, wholesaling, and retailing cannabis for CBD under a variety of best-selling labels as well as white labels for humans and pets. With a commitment to safety and purity guaranteed through third-party testing, Hemp Depot offers a complete range of full-spectrum and 100% THC-free products at the best value. Passionate about clean, sustainable agriculture, water conservation, and growing non-GMO, all-natural crops, Hemp Depot seeds generate the highest-value yield per acre and the highest-value for CBD per plant, while also maintaining the highest hemp seed inventory in the U.S. Visit www.hempdepotco.com for orders and more details. Visit www.hempdepotco.com/media for photography and videography for editorial use.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191106005205/en/
CONTACT: Evan Sneider
KEYWORD: COLORADO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER CONSUMER FOOD/BEVERAGE WOMEN COSMETICS RETAIL MEN CONVENIENCE STORE LUXURY CONSUMER FITNESS & NUTRITION RESTAURANT/BAR AGRICULTURE ALTERNATIVE MEDICINE NATURAL RESOURCES HEALTH TOBACCO SUPERMARKET SPECIALTY
SOURCE: Hemp Depot
Copyright Business Wire 2019.
PUB: 11/06/2019 07:45 AM/DISC: 11/06/2019 07:45 AM