$SING PHOENIX, Oct. 29, 2019 (GLOBE NEWSWIRE) --
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PHOENIX, Oct. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- SinglePoint, Inc. (OTCQB: SING) has launched into the smokable hemp market. Newly released brand 1606 Original Hemp is gaining traction after much attention at the 2019 National Association of Convenience Stores launch. The company received orders on site at the show and gathered over 100 interested clients that collectively own over 15,000 locations. SinglePoint expects to make its first large sale in the near future and has shipped orders to a collective 250 locations.
Hemp has been globally cultivated for thousands of years, but what is hemp and what makes the plant so special? Hemp is a strain that comes from the Cannabis Sativa plant species, it is an agricultural crop grown for seed and fiber. “Some of the earliest known uses of hemp began in China about 10,000 BCE, where it was used for making clothing, rope, and paper.”
In today’s world, hemp is becoming very popular. The use of hemp has evolved into diverse products such as lotions, oils, food, beverages, and cigarettes. Smokable hemp is a developing trend, but is it a good way to consume the cannabinoid? Here’s what you need to know:
Hemp vs. Marijuana
Hemp and marijuana are both part of the cannabis family. However, hemp will not get you high unlike marijuana, which is known for its psychoactive effects. Marijuana has high levels of THC, containing anywhere from 5%-35% whereas hemp has less than 0.3% THC. Hemp contains high cannabidiol (CBD) content which is not psychoactive. Smoking hemp is a positive alternative to marijuana, ”You get the same taste, the same psychological feeling of smoking a joint, but without the high.”
Replacing Tobacco
Pure American Hemp cigarettes (link) are nicotine and tobacco free. Some research suggests that smoking hemp cigarettes could be a potential tool to replace tobacco and nicotine addictions. According to a Brightfield Group survey of more than 5,000 CBD users in the U.S.:
24% have used it to help quit smoking.
Quitters are often replacing cigarettes
with either smokable hemp or vaping.
41% of quitters have entirely replaced
tobacco with hemp CBD.
Google trends reveals over the last year that hemp was researched more often than tobacco and nicotine.
Initial Research
Initial research has shown CBDs ability to reduce cigarette consumption. Researchers at University College London conducted a study of 24 smokers. Each were given an inhaler with CBD or placebo. For one week they were to use the inhaler when they had the urge to smoke. Those with placebo had no difference in cigarettes smoked, those with the CBD inhaler significantly reduced the number of cigarettes smoked by 40%.
The Alternative Market
The Alternative Market has continued to grow drastically, 35%, from 2019 to 2018 while cigarettes stayed steady at 3.1%. With the addition of hemp cigarettes and the recent vape scare, many assume the alternative market will continue growing as people look for a “healthier for you” alternative to cigarettes.
The Future
BDS Analytics and Arcview Market Research projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The smokable hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and smokable hemp flowers as one of the fastest-growing segments of the CBD market.
About SinglePoint, Inc.
PHOENIX, Oct. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- SinglePoint, Inc. (OTCQB: SING) has launched into the smokable hemp market. Newly released brand 1606 Original Hemp is gaining traction after much attention at the 2019 National Association of Convenience Stores launch. The company received orders on site at the show and gathered over 100 interested clients that collectively own over 15,000 locations. SinglePoint expects to make its first large sale in the near future and has shipped orders to a collective 250 locations.
Hemp has been globally cultivated for thousands of years, but what is hemp and what makes the plant so special? Hemp is a strain that comes from the Cannabis Sativa plant species, it is an agricultural crop grown for seed and fiber. “Some of the earliest known uses of hemp began in China about 10,000 BCE, where it was used for making clothing, rope, and paper.”
In today’s world, hemp is becoming very popular. The use of hemp has evolved into diverse products such as lotions, oils, food, beverages, and cigarettes. Smokable hemp is a developing trend, but is it a good way to consume the cannabinoid? Here’s what you need to know:
Hemp vs. Marijuana
Hemp and marijuana are both part of the cannabis family. However, hemp will not get you high unlike marijuana, which is known for its psychoactive effects. Marijuana has high levels of THC, containing anywhere from 5%-35% whereas hemp has less than 0.3% THC. Hemp contains high cannabidiol (CBD) content which is not psychoactive. Smoking hemp is a positive alternative to marijuana, ”You get the same taste, the same psychological feeling of smoking a joint, but without the high.”
Replacing Tobacco
Pure American Hemp cigarettes (link) are nicotine and tobacco free. Some research suggests that smoking hemp cigarettes could be a potential tool to replace tobacco and nicotine addictions. According to a Brightfield Group survey of more than 5,000 CBD users in the U.S.:
24% have used it to help quit smoking.
Quitters are often replacing cigarettes
with either smokable hemp or vaping.
41% of quitters have entirely replaced
tobacco with hemp CBD.
Google trends reveals over the last year that hemp was researched more often than tobacco and nicotine.
Initial Research
Initial research has shown CBDs ability to reduce cigarette consumption. Researchers at University College London conducted a study of 24 smokers. Each were given an inhaler with CBD or placebo. For one week they were to use the inhaler when they had the urge to smoke. Those with placebo had no difference in cigarettes smoked, those with the CBD inhaler significantly reduced the number of cigarettes smoked by 40%.
The Alternative Market
The Alternative Market has continued to grow drastically, 35%, from 2019 to 2018 while cigarettes stayed steady at 3.1%. With the addition of hemp cigarettes and the recent vape scare, many assume the alternative market will continue growing as people look for a “healthier for you” alternative to cigarettes.
The Future
BDS Analytics and Arcview Market Research projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The smokable hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and smokable hemp flowers as one of the fastest-growing segments of the CBD market.
About SinglePoint, Inc.
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