Jan. 1, 2019 – Effective on December 20th, 2018, President Donald Trump signed the Agriculture Improvement Act of 2018 (better known as the Farm Bill) into law which in-turn removed hemp from the Controlled Substances Act and amended the definition of marijuana by removing hemp and all parts of the plant and all derivatives from the definition. Section 297A now clearly defines hemp as the plant cannabis sativa L, or any part of that plant (whether growing or not) including all seeds, salts, salts of isomers, acids, cannabinoids, derivatives, and extracts, with a delta-9 tetrahydrocannabinol (THC) concentration of no more than 0.3 percent on a dry weight basis. Section 7125 also allows the development of industrial hemp and the development of new and emerging commercial products derived from hemp.
Hemp being a gold mine for agriculture innovation provides a huge market in the health and wellness industry. One of the more promising components of Hemp is CBD. CBD (cannabidiol) is currently one of the major emerging products in the U.S. dietary supplement market. According to Hemp Business Journal, the CBD market is estimated to grow by 700 percent by 2020 and become a $2.1 billion industry.
Ion Labs has announced that they will now begin Hemp & CBD manufacturing in 2019 and plan to incorporate a large range of these products into the operation. Ion Labs plans to focus on manufacturing Hemp and CBD ingestibles and topical products.
Ion Labs currently works with the largest, most globally recognized nutrition brands across the globe providing the highest quality supplement manufacturing services the market has to offer in 2018-2019. Businesses that would like to start discussing Hemp and CBD manufacturing capabilities with Ion Labs can inquire through the Ion Labs website, or call 727-527-1072.