Hemp Industry Updates
PHARM CBD Upgrades CBD E-Com Platform to Showcase ‘Seed to Sale’ Expansion
PHARM CBD has been leading in the fast-growing CBD market, applying the seed-to-sale operation model. The company admitted that they hold high levels of control over each aspect of their production process from growing, extracting, and formulating of all its CBD. The purity of CBD and the end product has become vital to the production process due to changes made to regulate marijuana consumption by state laws. Purity, coupled with control of hemp farms by the manufacturer, has driven online sales of CBD to new greater heights.
CBD and hemp oil sales rose by over 57% in 2018, hitting the $230 million mark in revenue. The upward trend in online purchases has significantly impacted the CBD market and revolutionized the marijuana industry at large. With an upsurge of customers ordering CBD and hemp-infused products from the comfort of their home, the cannabis market is witnessing a boom in the e-commerce platform. Since the industry is still young in the e-commerce space, the uptrend is projected to steadily continue growing over a further period of five years. The CBD market is expected to grow at a rate of over 30% by the year 2024.
Cannabidiol (commonly known as CBD), has proved to have a number of beneficial uses as customers confess its wonderful effects in positive reviews. The only challenge that consumers face is its potency. While CBD may be termed as the constructive or beneficial cannabinoid in hemp and marijuana extracts, it coexists with another chemical called Tetrahydrocannabinol or THC. THC is the psychoactive element responsible for causing the “high” effect on its users. However, CBD is used in isolation or free from THC for its therapeutic properties. CBD is considered safe for consumption by everyone, regardless of age, because it does not cause a high.
PHARM admits that they have a diverse customer base made of consumers of all ages, who derive various benefits from the company’s CBD product profile. However, CBD products are not all manufactured equally.
According to Evan Ogburn, PHARM CBD co-owner and founder, the production of inconsistent and ineffective CBD products is a major challenge facing the CBD industry. Some companies are selling inauthentic CBD products that are highly ineffective and harmful for human consumption. Ogburn claims he became interested in the marijuana industry in an attempt to apply his pharmaceutical background in creating the most thoroughly lab-tested, effective, and consistent CBD products.
PHARM CBD is based in Bedford, Kentucky, and Ogburn believes their quality is a reflection of a trusted community. The company is co-owned by five partners, each offering unique skills to growing PHARM CBD. As a team, the company is experienced in chemistry, manufacturing, quality control, agriculture, and consumer education. These are the fundamental pillars upon which PHARM operates. With so many regulations and laws surrounding the CBD industry, PHARM’s objective from its foundation was committing to producing high-quality and safe products for sale in stores and on e-commerce platforms. The company is gradually realizing its goal and is currently leading in the CBD e-commerce market.