The Rise of Hemp Derived Products

BY SHAYDA TORABI

Ifeel like I blinked and hemp derived products have erupted on the scene quite literally everywhere across the United States, from CBD brands evolving their product offering to the THC’s, to adult use brands recognizing the “loop hole” allowing them to go direct to consumer.

Delta 9 THC gummies are being shipped across state lines, and you can walk into a boutique grocery store and grab a low dose THC beverage from Houston to Minneapolis. What was once in the shadows of adult use cannabis, the hemp industry has never been more alive. And in my opinion, taking the lead.

In fact, I would argue the tides are turning and as a hemp business owner and operator, my eyes are wide open and I’m paying attention. You should too.

I’ve been in the industry professionally for going on 5 years. In fact, my hemp brand RESTART, which I own and operate with my sisters in our hometown of Austin is celebrating our 5 year anniversary on August 18th and my podcast, To Be Blunt celebrated 3 years back in June. Things are moving fast.

Over these years I’ve had numerous conversations with operators from adult use states like California and Colorado, to emerging states like Minnesota and Michigan, to hemp states like North Carolina and Tennessee and it’s been a constant evolution that I think most people in the midst of it (like myself) haven’t fully regognized until it smacked us in the face.

We’re all eager for our state to open up, and we’re even more eager to claim a horse in the race. But what if I told you we are paying attention to the wrong race?

I remember those early days when I would jump on the line with my guests who represented some of the top most recognizable brands in the adult use cannabis space. I admired what they had accomplished, and still do to this day as it’s no easy feat, but I also remember the feeling I was left with when they learned that I operated in the hemp space.

You could tell they thought less of it, like it was cute and all what I was doing, but it wasn’t true cannabis. And for the most part, they were right. At the time we were really only selling CBD, and Delta 8 THC was just coming up on the horizon. On top of that, we didn’t have a choice, Texas cannabis laws weren’t changing anytime soon, so we learned to play within the confines of the law in which we operate under.

I recall the decision we made to begin to sell Delta 8 THC, I didn’t fully know it then but it’s clear as day now, if we didn’t decide to begin selling that, I don’t think we would still be in business today.

And now there is an onslaught of other cannabinoid products which at times has gotten unruly even for my own taste, especially when it comes to THCP, THCJD, etc.

So I will be the first to say, I get it, from a lawmaker perspective, from an adult use cannabis perspective, and even from a consumer perspective, what’s happening in hemp is a complete 180 from where we started this thing in 2018 with the farm bill passing.

But I’ve said it before and I’ll keep saying it now, this industry is too new to be set in stone, so instead of getting hung up on processes, we should be paying attention to the reality that is unfolding in front of us because if we don’t evolve, we will die.

This is further emphasized by the very same adult use brands who looked down upon hemp are now beginning to see the opportunity in front of all of us. I point this out because I think the market is going to continue to radically change and how we react is going to be pivotal.

It’s going to be more competitive and it’s going to become more challenging. Especially considering we have a limited window we are operating in federally.

The DEA said they are going to take a stance on synthetic cannabinoids and the 2018 Farm Bill expires at the end of this year which means the next iteration in theory should address some of these concerns.

I think it’s exciting though to see the pendulum swing and reframe what cannabis and access to cannabis can look like, but I also see the wake of devastation as brands stumble to gain footing in this next iteration of the industry.

The reality is we won’t all survive. And the ones who can understand the law while meeting the demands of the consumers are going to win.

So it’s your move! What do you think will happen? Where do you draw the line?

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