First-ever direct selling CBD hemp oil company Kannaway joins premier hemp industry association within newly opened EU market.
Medical Marijuana, Inc. subsidiary Kannaway has joined the European Industrial Hemp Association (EIHA) for the first time as a member. This membership will help Kannaway promote the use of renewable hemp and CBD products throughout the European Union.
The EIHA is the only coalition for the industrial hemp sector in Europe. It operates with the goal of uniting the hemp industry in the EU and sharing critical information with its members. The organization also advocates for the cultivation, processing, and use of hemp commercially, lobbies for legislation surrounding hemp and CBD throughout the EU, and organizes events to connect hemp industry leaders in Europe.
As an EIHA member, Kannaway will participate in the organization’s operational and legislative activities as part of Medical Marijuana, Inc.’s mission to bring access to top quality hemp and CBD products to as many people as possible around the world.
“We’re excited to be recognized as a leader in the European hemp industry,” said Kannaway Vice President of International, Alex Grapov. “We look forward to working with the EIHA to help drive global policy changes regarding the legislation of hemp and CBD and help spread education on the potential wellness benefits of CBD.”
The EIHA currently has 52 member businesses and dozens of associate members, including doctors and industry experts. Its members, representing 31 different countries, are players in industrial hemp processing and distribution, car manufacturing, construction, and food and feedstock, as well as the pharmaceutical sector.
To learn more about the European Industrial Hemp Association, its goals, and to see a list of its members, please visit http://eiha.org/members/.
According to the Brightfield Group, a predictive market intelligence firm, Europe’s CBD market was estimated at $318 million in 2018 and is expected to grow over 400 percent by 2023. Kannaway was one of the first to introduce hemp products containing high levels of CBD to Europe’s market back in 2017.
Kannaway’s Europe Division has grown exponentially over the last two years. The company has hosted over a dozen events throughout the EU, added more than 50,000 brand ambassadors to its team, and began selling in many new markets and countries. The company now ships to over 30 countries worldwide.
The company officially launched its European operations in 2018 with its Kannaway Grand Opening Event in Prague. More than 2,000 people attended the event where the company revealed several new innovative CBD products and exciting initiatives.
This led to a significant amount of Kannaway’s 2018 revenue coming from its European operations and the company experienced an increase of nearly 200% in revenue over 2017 revenue.
“Europe has shown us great potential for operational growth and we’re enthusiastic about the future of CBD there,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Working with the EIHA is a stepping stone to connecting with a larger audience there and helping the CBD industry progress as a whole.”
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