Hemp and Cannabis Market Rise as Americans Choose Marijuana Over Cigarettes

Sep 9, 2022

According to a recent Gallup poll, regular cannabis use in the United States has increased over the last 50 years and surpassed regular cigarette consumption for the first time in history

Vancouver,Canada - September 9, 2022 /PressCable/

According to a recent Gallup poll, regular cannabis use in the US has surpassed regular cigarette consumption for the first time in history. The use of marijuana has significantly increased over the last fifty years and is now at its highest level ever recorded by Gallup. In recent decades, cigarette smoking has declined among Americans, with only 11% of respondents saying they were smokers. Recreational marijuana is now legal in one form or another in 38 states, which may contribute to its growing popularity. And the number of cannabis users will likely continue to rise as more states legalize the drug. CBD is also becoming a popular option among smokers, with hemp cigarettes offering cigarette smokers an alternative option without the dangerous or addictive impact of tobacco or nicotine. Growing interest in marijuana, as well as hemp and CBD products among Americans, bodes well for companies like Hempshire Group, Hempacco Co., Inc., TAAT Global Alternatives Inc., 22nd Century Group, Inc. and Cronos Group.

Hempshire Group is dedicated to sourcing the finest CBD-rich organic hemp and other organic ingredients, such as mullein and white sage, to create CBD hemp smokes that deliver all the pleasurable rituals of smoking, without the addictive and dangerous effects of tobacco and nicotine.

On September 7, Hempshire Group received approval to legally import and distribute its products into the European Union (EU) after receiving notice from the Federal Public Health Food Safety and Environment Service of Belgium that its MOUNTAIN® Smokes conform with European Union Common Entry Gate (EU-CEG) regulations. The Belgium authorization allows Hempshire to pursue commercialization and sales across the EU – the largest single market’ in the world – provided it meets individual member nations’ specific ‘local’ regulations, such as packaging in the local language and inclusion of any locally-required warning labels.

Last month, Hempshire Group provided an overview of the company and its strategic initiatives to support growth in 2022 and 2023.

Hempshire’s Hemp Smokes, marketed under the brand MOUNTAIN® Smokes, are made with only organic full-grain hemp, organic mullein, and organic sage and don’t contain any tobacco, nicotine, fillers, preservatives, or additional chemicals.

Three global addressable markets—tobacco, e-cigarettes and vapes, and cannabis/CBD—with a combined annualized spend of more than US$850 billion are the focus of Hempshire’s strategic goals.

Hempshire believes it has built the framework and infrastructure required to pursue its long-term goal of dominating the market for nicotine- and tobacco-free smoking alternatives on a worldwide scale.

“In my more than 35 years creating strategy and directing marketing programs for some of the biggest brands in the world, I’ve only seen a handful that were truly category disruptive and backed by a fundamentally superior product that has the potential to de-position a multi-billion-dollar industry. MOUNTAIN® Smokes has the ability to achieve competitive commercial dominance and simultaneously create a happier and healthier world,” said Martin Marion, Hempshire’s President and CEO. “This combination enables us to scale significantly by outsmarting and de-positioning our competitors, not out-spending them.”

For Hempshire, the three months that ended on June 30, 2022, were revolutionary. Hoist Capital Corp. and Hempshire Group combined during the quarter. The company resulting from Hoist and Hempshire US merger is positioned to be a market leader in tobacco-free and nicotine-free alternative smoking products. It continues the business formerly carried out by Hempshire US.

For more information about Hempshire Group, click here.

Recent News From Companies in the Smokable Alternatives Space

On September 1, Hempacco Co., Inc., a vertically integrated hemp manufacturing company, announced the completion of its initial public offering (IPO) of 1,000,000 common shares for $6.00 per share to the public for aggregate gross proceeds of $6 million. Hempacco listed its common stock on the Nasdaq Capital Market, effective August 30, 2022, under the symbol “HPCO”. Hempacco, which owns The Real Stuff hemp cigarette and rolling paper brand, plans to disrupt the nearly $1 trillion tobacco industry with herb and hemp-based alternatives

TAAT Global Alternatives Inc. announced that it has received its third order from its UK distributor, Green Global Earth (GGE). This order will be the second shipment to the UK containing Beyond Tobacco Version III advanced formulation, the nicotine-free and tobacco-free base material of TAAT. This will also be the first UK shipment containing the menthol-flavored version of TAAT, which will be sold in the UK as TAAT Green. This shipment will be delivered by the company sometime in September 2022. Through its retail distribution network and consumer interaction platforms, GGE will assist TAAT in its mission to inform and test adult smokers.

22nd Century Group, Inc., a leading agricultural biotechnology company focused on improving health with reduced-nicotine tobacco and hemp/cannabis, announced its second quarter 2022 results on August 9. The company included business highlights from Q2, including the acquisition of GVB Biopharma, a leading hemp/cannabis extraction and white label CDMO. According to 22nd Century Group, the transaction is expected to double its total revenue and provide consumers with hemp/cannabis products that have the highest levels of quality, reliability, stability, and consistency.

Innovative global cannabinoid company Cronos Group also just announced its second quarter financials, with consolidated net revenue increasing 48% year-over-year (YoY) to $23.1 million. According to Cronos’ chairman, president and CEO Mike Gorenstein, the company is remaining focused on product development and long-term focused innovation and has continued to expand its cannabinoid product portfolio with the recent launch of a CBN vape and gummy in select markets in Canada.

In the US, regulatory pressure on the conventional tobacco and nicotine industries is on the rise. Hempshire Group believes that, although it expects stricter regulations to take time, the non-tobacco and nicotine-free smoking alternatives category, and Hempshire’s MOUNTAIN® Smokes, as a result, will benefit from these regulatory developments.

Disclaimer

Contact Info:
Name: Jonathan Wong
Email: Send Email
Organization: PressReach
Address: 422 Richards Street Suite 170, Vancouver, BC V6B 2Z4, Canada
Website: https://pressreach.com/

Source: PressCable

Release ID: 89081280

If you detect any issues, problems, or errors in this press release content, kindly contact error@releasecontact.com to notify us. We will respond and rectify the situation in the next 8 hours.

More News

article.head.headline
Oct 15, 2024
Meet Myles O’Neal, Shaquille O’Neal’s stepson: the model, DJ and reality TV star took on the ex-LA Lakers star’s surname – now the duo are making waves in the music industry as the O’Neal Boyz

The younger O’Neal is a multi-hyphenate who made his runway debut with Dolce & Gabbana before landing a Coach campaign and appearing on Basketball Wives; now he’s making music with his stepdad

article.head.headline
Oct 15, 2024
Meet Whitney Leavitt: The Secret Lives of Mormon Wives ‘villain’ is a full-time influencer who’s been involved in multiple controversies, from ‘soft swinging’ to promoting Bellesa adult toys

The MomToker faced backlash in 2022 for a video of her dancing in hospital with her sick infant son; she’s now expecting her third child with husband Conner, who admitted to using Tinder while married.

article.head.headline
Oct 15, 2024
Meet Noah Centineo’s mum Kellee Janel, who just got married: the spin and yoga instructor moved to LA for her son’s acting career … then he scored the lead in To All the Boys I’ve Loved Before

Last month the former teen heartthrob and The Fosters alum walked his mother down the aisle on Italy’s Amalfi Coast – but what do we know about his biggest supporter over the years?

article.head.headline
Oct 15, 2024
Interest rate cut hopes raised as wage growth slows

Expectations of a rate cut next month increase as pay growth slows to its lowest rate for more than two years.

article.head.headline
Oct 15, 2024
20 Travel Products From Target So Good, Even Light Packers Will Make Space For Them

We support you and your zero checked bags EVER agenda. View Entire Post ›

article.head.headline
Oct 15, 2024
Disney+ K-drama Jeongnyeon: The Star Is Born – Kim Tae-ri in evocative period music drama

Kim Tae-ri stars as talented young singer Yoon Jeong-nyeon whose mother (Moon So-ri) tries to stop her singing, in this Disney+ period drama.

article.head.headline
Oct 15, 2024
The Stock Market’s Bullish Run Is Likely to Continue, Analysts Say

The bullishness on Wall Street is largely based on confidence that the Federal Reserve will tame inflation, the economy will remain solid and corporate earnings will continue to grow.

article.head.headline
Oct 15, 2024
Tina Brown, the Queen of Legacy Media, Takes Her Diary to Substack

She made her name leading glossy magazines. Now she’s joining the newsletter flock.

article.head.headline
Oct 15, 2024
Pitchfork Alumni Launch New Music Publication, Hearing Things

After the popular publication was folded into GQ, a group of them is striking out on its own. One of the first orders of business: doing away with album scores.

article.head.headline
Oct 15, 2024
PM does not rule out NI rise for employers

Sir Keir Starmer says this month's Budget was "going to be tough" but would "focus on rebuilding our country".

article.head.headline
Oct 15, 2024
3 Las Vegas Experiences That Deserve Way More Attention, And 3 That Can't Get Much More Overrated

Some of these places deserve wayyyyyy more attention. Others, I definitely could have passed on. View Entire Post ›

article.head.headline
Oct 15, 2024
Salzburg’s Mozart trail, from composer’s birthplace to his family home and favourite cafe

Stroll around Austria’s fourth largest city and take in the places where Mozart was born, lived, and composed and conducted music.

article.head.headline
Oct 15, 2024
It's not the pizza, say dermatologists. What really causes acne breakouts

As common as acne is, experts say there are some popular misconceptions about its causes. Research suggests diet and poor hygiene are not the clear culprits, but rather a multitude of factors are at play, including genetics, hormonal changes — and stress.

article.head.headline
Oct 15, 2024
This Guelph, Ont., couple is looking for a surrogate via social media after frustrating search

For Stephanie Craig and Mike Murphy, trying to grow their family has been difficult. Craig had a miscarriage in 2018 at 24 weeks and they tried IVF. Since then, the Guelph, Ont., couple have been looking for a surrogate, including now through social media.

article.head.headline
Oct 15, 2024
Bridging the Action-Awareness Gap: Trip.com Group’s 2024 Sustainable Travel Consumer Report Insights

Trip.com Group, a leading global travel service provider, reveals that while sustainability awareness is rising among travellers, there remains a gap between awareness and action. This is one of the key insights from the Sustainable Travel Consumer Report 2024 that the Group released today.

article.head.headline
Oct 15, 2024
Four Seasons and Lucid Team Up to Offer Guests Sustainable Driving Experiences

Global luxury hospitality leader Four Seasons and Lucid Group, Inc., maker of the world’s most advanced electric vehicles, announce a new partnership grounded in a shared vision of an exceptional, sustainable lifestyle. The collaboration underscores both companies’ commitment to environmental stewardship and responds to a growing guest desire for added flexibility and unique, eco-friendly experiences during their stay.

article.head.headline
Oct 15, 2024
Unveiling the Neolithic: Türkiye Hosts Groundbreaking Global Congress

From 4th -8th November , 2024, the Southeastern Anatolian city of Şanlıurfa, home to the globally significant Neolithic sites of Göbeklitepe and Karahantepe, will host the World Neolithic Congress, the first of its kind. Organised under the auspices of the Ministry of Culture and Tourism and the Türkiye Tourism Promotion and Development Agency (TGA), this pioneering event will bring together approximately 1,000 scholars from 64 countries and 487 institutions to advance research and understanding of Neolithic cultures worldwide.

article.head.headline
Oct 15, 2024
Sardinia Beyond Summer

As autumn takes hold across Europe, Chia Laguna Resort, Sardinia welcomes guests seeking warm temperatures and activity filled days. Following an outstanding season marked by double-digit growth in occupancy rates, the resort welcomes all types of traveller to three distinct properties - Conrad Chia Laguna Sardinia, Baia di Chia Resort Sardinia - Curio Collection by Hilton, and Hotel Village

article.head.headline
Oct 15, 2024
Innsbruck Winter Safari - Five Unique Experiences in the Capital of the Alps

A far cry from the traditional African safari and catching sight of the ‘Big Five’ – Austria’s ‘Capital of the Alps’ offers instead five unique experiences for winter wanderers. From skiing under the stars or travelling through time at a Victorian Christmas market, to a magnificent carnival event that is only held every five years, the Innsbruck region is a hidden jewel, just waiting to be discovered.

article.head.headline
Oct 15, 2024
The Gambia Experience Celebrates First Flight With a Vibrant Cultural Welcome

The Gambia Experience celebrated its first flight of the season departing from Gatwick to Banjul on Friday, (11th Oct) marking over 35 years of winter sun holidays to The Gambia. Upon arrival at Banjul International Airport, passengers were warmly welcomed by The Gambia Experience resort team and British High Commissioner to The Gambia, Harriet King before being treated to a vibrant and welcoming reception from a local dance troupe, The Jola Cultural Group. Their energetic drumbeats and colourful costumes set the tone for a memorable holiday, providing an authentic, immersive experience, and first taste of the rich cultural traditions that make the destination so special.

article.head.headline
Oct 15, 2024
I'm a two-Michelin-star chef - and this is why British food is the BEST in the world. Do YOU agree?

The vote of confidence comes from Jeremy Chan, head chef at restaurant Ikoyi in London and who's created the new first-class menu for Eurostar.

article.head.headline
Oct 15, 2024
Stay22 Expands Partnership With Booking.com

Stay22, the travel tech company that offers affiliate revenue generation opportunities for travel content creators, has announced the integration of Booking.com’s wide range of products. This partnership will offer Stay 22’s network of over 2,700 global content creators the opportunity to generate revenue from every element of the travel experience in one place, including accommodations, flights, car rentals, and attractions, within their platforms.

article.head.headline
Oct 15, 2024
If You Refuse To Check Any Bags While Traveling, You Need These 27 Carry-On Essentials

Genius packing hacks, like a shirt that can be worn six ways, solid shampoo bars, and more. View Entire Post ›

article.head.headline
Oct 15, 2024
Octopus farming is cruel and governments must stop funding it, farm reform campaigners say

Octopuses are intelligent, solitary creatures, and governments must stop funding ‘cruel and unsustainable’ octopus farms, reformers say.

article.head.headline
Oct 15, 2024
Google turns to nuclear to power AI data centres

The tech giant says it will use energy from small reactors to power its use of artificial intelligence.

article.head.headline
Oct 15, 2024
Want to eat like royalty? Visit a stunning Scottish mansion owned by King Charles charity

For US$490 you can eat an authentic 18th century feast served by a butler at the British monarch’s table in Dumfries House, Scotland.

article.head.headline
Oct 15, 2024
Hong Kong’s Chinese Culture Festival inspires sense of heritage and national pride

Four-month event featured music, dance, Chinese opera, multi-arts programmes, films, exhibitions, lectures, artist talks and masterclasses.

article.head.headline
Oct 15, 2024
South Korean rapper Lil Cherry, aka Mukkbang Mama, on working with her brother Goldbuuda and how her song ‘Crying in da Club’ was partly inspired by Lucy Liu’s character in Charlie’s Angels

The poet-turned-rapper tells Style about seeing Flo Rida perform in high school, and how All Eggs in the Basket is not just the name of her upcoming release but a mantra for life.

article.head.headline
Oct 15, 2024
K-pop band CNBlue reflects on their 14-year career and new mini-album X

CNBlue hit the big time in 2010 after their song Loner became a huge hit, and 14 years on, they talk about their career and new mini album X.

article.head.headline
Oct 15, 2024
Americans, Share With Us The "Culture Shock" Moments You Had While Traveling To Another State

The Southern California mind (me) cannot comprehend the concept of a Vermont autumn... View Entire Post ›

article.head.headline
Oct 15, 2024
Americans suing for right to buy Hermès Birkin bags add fraud, false advertising claims

Plaintiffs in antitrust case over Hermès limiting ability to buy coveted bags to customers who purchase other items amend their complaint.

article.head.headline
Oct 15, 2024
Style Edit: Margot Robbie, the latest face of Chanel N°5, stars with Jacob Elordi in a short film inspired by the spirit of Gabrielle ‘Coco’ Chanel

A Chanel ambassador since 2018, Robbie succeeds the likes of Nicole Kidman, Catherine Deneuve and Marion Cotillard as the face of the iconic fragrance.

article.head.headline
Oct 15, 2024
Trump and Harris Both Like a Child Tax Credit but With Different Aims

Kamala Harris’s campaign is pushing a version of the credit intended to fight child poverty, while Donald J. Trump sees the program primarily as a tax cut for people higher up the income scale.

article.head.headline
Oct 15, 2024
Tired of pumpkin spice? Here are meaningful ways to ring in the fall season in sunny L.A.

I went on a quest to find worthwhile fall rituals. Here's what I found.

article.head.headline
Oct 14, 2024
Would Donald Trump’s taxes on trade hurt US consumers?

What could happen if Donald Trump drastically increases tariffs as he has promised to do?

article.head.headline
Oct 14, 2024
Hong Kong Asian Film Festival 2024: 10 of the best movies to see, including The Last Dance

This year’s programme includes a drama ripped from Hong Kong headlines, a social satire in a near-future Japan and a modern romantic drama.

article.head.headline
Oct 14, 2024
Why there's a rush of African satellite launches

Falling launch costs have given African nations a chance to send their own satellites into orbit.

article.head.headline
Oct 14, 2024
American equal pay icon Lilly Ledbetter dies aged 86

Alabama woman's case led to law, signed by Barack Obama, that gave Americans more rights to sue for pay discrimination.

article.head.headline
Oct 14, 2024
Meet former US House speaker Nancy Pelosi’s youngest daughter Alexandra: the Emmy-nominated filmmaker is a prolific documentarian and describes herself as the ‘paparazzi of the family’

The youngest Pelosi’s 2022 documentary, Pelosi in the House, includes recordings she made of the January 2021 US Capitol attack – footage that was later used during an investigation into the riots

article.head.headline
Oct 14, 2024
Killing of Japanese Boy Leaves Chinese Asking: Is This My Country?

Angry at what they view as China’s state-led xenophobia, taught in schools and prevalent online, some people are taking action, even at personal risk.


YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.