HempFusion Wellness Optimistic that Hemp / CBD Market Recovery is on the Horizon

December 16, 2020 15:57:32
  • HempFusion Wellness, Inc. is developing nutritional products (currently 46 on retail store shelves) that promote overall health and wellness in a variety of ways including skin care, pain relief and gut support
  • The company’s products are distributed to about 4,000 retailers in all 50 states as well as some international outlets, including major food and drug retailers and big box stores mostly not available to other CBD companies
  • HempFusion has filed a preliminary prospectus for a planned initial public offering (“IPO”) on Canada’s most senior stock exchange, the TSX
  • Market watchers expect the CBD industry to expand to $12.4 billion by 2023 and current trends point to the expansion of subsectors such as the infused beverage industry, which is expected to reach $2.8 billion by 2025

It’s easy to sympathize with players in the hemp / CBD market who felt a sense of whiplash in 2020 as a once-hot sector suddenly found itself facing a wolf at the exchange door. A booming supply of hemp from farmers looking for a sudden new cash crop after the 2018 farm bill legalized hemp cultivation as an agricultural product led to an extreme oversupply (https://cnw.fm/tzHLc), followed by a drop in demand as the global COVID pandemic led many wellness product fans to turn away from CBD in favor of specialized immunity-enhancing supplements (https://cnw.fm/dSRTA).

Even so, analysts continue to anticipate a market resurgence as the supply and demand actors figure out how to balance product delivery. The (thus-far-contested) victory of President-elect Joe Biden also is expected to open a new wave of optimism, given Biden’s plans to decriminalize marijuana, a sibling to hemp, in contrast to the current president’s policies, as well as the decisions by five states to…

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NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at https://cnw.fm/HempFusion

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