Goldman Small Cap Research, a stock market research firm, announced today that it has released a new research report on Rocky Mountain High Brands, (OTCMKTS:RMHB), and a leading provider of hemp-infused food and beverage products.
There has been a steady growth in the demand for the hemp-infused products in the markets with an expected increase in projections of up to 700% in 2020 to around $1.15billion.
RMHB for instance having introduced new products on their existing projections coupled with new contract of up to $7.2million, it’s expected to record higher revenues by the end of this year.
In North America, there has been a steady growth in the cannabis market owing to the increased level of legalization of cannabis and its related products which has seen up to more than 8 states legalize the usage.
The markets have been recorded and seen to grow as a result of the increased usage of the hemp in baby care products and food besides the increased awareness of cannabis on its medicinal benefits
There has also been recorded a high number of hemp-infused product companies moving their products online with an aim to streamline their sales as a result of the increased markets with more companies coming up day by day.
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It has also been stated that some companies are finding it easier in selling the hemp-infused products because they can easily acquire wholesale CBD products from other companies who have taken the initiative of the growing and extraction process.
It has however been observed that there is only a couple of suppliers who actually make organically grown CBD in the country with more distributors. Some companies would however prefer to grow their own hemp products and sell it on their own
Besides recording increased revenues, there are however a number of challenges that come alongside that may include logistical issues and high risk accounts because the accounts can easily be shut down due to sale of the hemp products.
Hemp products have also found public ignorance about their indifferences to marijuana with many having the assumptions that hemp may not bring out the stimulation effects marijuana brings.