The hemp industry is projected to generate tens of billions in the next several years. In 2018, the sale of hemp was made legal with the Agriculture Improvement Act. Therefore the uses for hemp are becoming more extensive in commercial and industrial sectors. Several companies have had rapid or consistent growth and will only continue to do so.
Mile High Labs International
Mile High Labs is a hemp producing company experiencing high volume CBD orders throughout the year. Their production operates under the Good Manufacturing Process (GMP) to ensure quality control. Some of the hemp products they offer are THC-free such as their products from their CBD skincare collection. The hemp company offers private label products for clients with exclusive formulations to expand their growth.
Charlotte’s Web Holdings
Charlotte Web Holdings had a huge year back in 2018 with a launched IPO and mass production. Brothers from Colorado developed a strand they named Charlotte’s Web and made that the name of the company. Non-GMO hemp genetics are grown by the company. Multiple tests to ensure quality include testing soil and the plant throughout its growth cycle. The extract is composed in-house by using the stem and flower parts of the plant to get the best quality. Some companies do not do so and opt to use stem scraps from other industries to create CBD extracts.
Bluebird Botanicals is an award-winning company for the success of its hemp products. Hemp is grown in the sustainable greenhouses the company owns with each batch having a tracked lifecycle. The company obtains a special certification known as the Certificate of Analysis (COA). After the potency of the hemp is examined by a third party, a COA is then issued to Bluebird. The company has several certifications including the Leaping Bunny cruelty-free and B Corporation certifications.
Aurora Cannabis Inc.
Many investors big or small may know about Aurora Cannabis. This fast-growing hemp company was one of the most widely held stocks for investing app Robinhood. Aurora prioritizes improving health and wellness with its various brands and products. Different clinical studies, case studies, and other observational studies have been conducted with university labs all around the world.
The company has medical brands as well as consumer brands that keep the growth consistent. Aurora Drift is one of the consumer brands known for its edibles and vapes while San Rafael ‘71 is one of the medical brands that create quality high-THC products.
CV Sciences has made its mark by having the #1 selling hemp supplement in the North American region. The company is widespread in the United States across at least 30 states. Traceability is throughout the entire process from the seed to the shelf following Good Manufacturing Practices (GMP) guidelines. Quality control is important so the company makes sure all products are free of mold, pesticides, heavy metals, and residual solvents. The hemp company has two main functions which involve the production and sale of their hemp products; and another division designed to work on the development and distribution of CBD therapeutic products.
Hemp is the Future
The hemp industry will only continue to grow as they find more uses for it and more companies will likely arise in the future. Top hemp companies will continue to be innovative as hemp is a natural renewable resource. Methods to produce biosynthetic cannabis are being used to primarily cut the costs of hemp products and take the industry even further.
Health is the main focus of many companies in the development of hemp products. Expect more from these fast-growing hemp companies in 2021 and beyond. Explore their stock options if you looking the invest in the hemp industry.