Despite the fact that hemp-based products can be produced at scale, processed and legally shipped across the country, they are not as popular as recreational cannabis products.
The question arises as to why Americans are not embracing hemp as a viable alternative when it has the potential to be shipped nationwide, and sourced for competitive prices and quality.
Justin Tidwell and Anthony Puterman, co-founders of Nowadays, a hemp-based spirit that offers a light and buzzy experience without the effects of alcohol, acknowledge that while there is a potential for hemp-based products to be shipped across the U.S. under the Farm Bill, the current bottleneck lies in marketing and consumer comfort.
Nowadays sources hemp from farmers in Kentucky and works with manufacturing companies in California.
This allows the brand to supply from producers at competitive costs, work with compliant highly reputed producers in the food industry of their choice, and distribute their products across state borders, unthinkable for the rest of the cannabis industry.
Farm Bill Compliant, Shipped Nationwide
Their company ships its hemp-based spirit to 35 states, capitalizing on the legal framework established by the 2018 Farm Bill.
Extracting THC from hemp Nowadays complies with the legislation that legalized the cultivation, production, and sale of hemp and hemp-derived products in the United States.
“We're able to do that because we extract our THC from hemp and our product contains less than 0.3% THC by volume, which means that it's actually a ship of all legal products under the Farm Bill. So we don't have to have cannabis licensing in the whole nine yards. That's what's allowed us to scale super, super fast,” Tildwell told Benzinga in an exclusive interview.
Quality, Branding And Marketing: Driving Consumer Confidence In The Cannabis Industry
Tidwell and Puterman believe that the industry needs to focus on elevating product quality, branding and marketing to instill confidence in consumers.
As one of the first companies to prioritize branding and product quality, Nowadays has generated excitement and interest, particularly through online sales.
Puterman emphasized the importance of gradually introducing consumers to the cannabis category through low-dose products, which can be shipped nationwide due to their compliance with hemp regulations.
He envisions a future where more products are marketed effectively, expanding the mass marketability of hemp-based products and working in tandem with the licensed cannabis industry to introduce more people to the cannabis industry as a whole.
Hemp And The Food Industry: Collaborative Progress From Kentucky to California
Nowadays stands out for its strategic partnerships, including hemp farmers in Kentucky, distilleries and manufacturers in California and design companies.
By embracing hemp and drawing from the progress of the established food industry, the cannabis sector has the potential to accelerate its growth, tap into efficient technologies and become an enticing investment opportunity.
“Our ingredients are all sourced from reputable sources that have been around for 100 years. We were able to partner with somebody very early on who was manufacturing lab-tested products. So it actually was not too difficult from a compliance standpoint for the raw ingredients,” Tidwell said.
Ensuring responsible practices is crucial for the cannabis industry to be perceived as trustworthy in the push for federal legalization.
Thus Nowadays has implemented an age verification system, voluntarily shipping products only to customers aged 21 and above, as they aim to be at the forefront of compliance and responsible distribution.
Related News
- USDA's Bold Move: Elevating Hemp's Status As A 'Specialty Crop' What Does It Mean?
- DEA May Reschedule Certain Hemp-Derived Cannabinoids, NY Streamlines Licensing Process & More Pot Regulations
Photo via El Planteo.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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