The global market for hemp-based products is rapidly expanding, and a recent announcement from Hempacco Co, Inc. has just signaled a significant leap in its reach. On Wednesday, Hempacco, a hemp smokables company, declared an exclusive master distribution agreement with CBDAY Global Private Limited—a firm specializing in the import, export, distribution, and sales of hemp-based items in India and Asia.
This partnership marks a pivotal moment for Hempacco as it aims to introduce its line of hemp and CBD products, including Cheech & Chong and Rick Ross hemp products, to new international markets, starting with India and Thailand. The products will be featured on CBDAY’s flagship website and are set to penetrate the broader Asian market through various online and offline distribution channels. The strategic move by Hempacco is not only a business expansion but also an effort to cater to the growing demand for quality hemp and CBD products globally.
Siddharth Shivkumar, CEO of CBDAY, commented on the potential impact of this agreement, stating, “It is with immense delight that we unveil our exclusive agreement with Hempacco, encompassing all brands and celebrity partnerships. Our strategic approach, deeply rooted in an unwavering commitment to align with global trends, positions us to cultivate a sweeping and influential network across assorted nations. This marks the beginning of an extraordinary journey towards shaping the future of the hemp industry.”
India, with its long-standing history of hemp usage and rising disposable income levels among its vast population, presents a fertile ground for such products. Daniel Ortega, vice president of sales at Hempacco, highlighted the significant opportunity saying, “Our introduction to the Asian market through this new joint venture with CBDAY opens up a huge opportunity to market our brands in the world’s largest smoking area.”
The collaboration with high-profile names such as Cheech & Chong and Rapper Rick Ross is not the first-time celebrities have been associated with Hempacco’s ventures. In 2022, the company embarked on a joint venture to manufacture their private brand of hemp CBD cigarettes and hemp wraps, featuring organic hemp wraps in various flavors. These celebrity partnerships are designed to leverage the stars’ broad appeal and to signal the quality and exclusivity of Hempacco’s offerings.
Exploring additional segments, Hempacco’s operations also include the manufacturing of smokables, hemp rolling paper, cannabinoid sticks, as well as smokable technology development. Their brand, The Real Stuff, offers functional smokables and rolling paper. Furthermore, Hempacco’s collaboration with Snoop Dogg in creating a line of hemp-derived products under the new company HPDG, LLC, and the launch of The Real Stuff Hemp Smokables in the Mexico market earlier this year, underscores their commitment to diversifying and innovating within the industry.
Last month, another technological stride was made when Ispire Technology Inc., a pioneer in vaping technology, announced a five-year exclusive manufacturing and global distribution agreement with Hempacco through Aspire North America, LLC, one of Ispire’s subsidiaries. Aspire agreed to distribute and commercialize Hempacco’s branded cannabinoid and nicotine vapor products, including those associated with Snoop Dogg.
This array of collaborations and expansions suggests that Hempacco is actively working to cement its position as a leader in the hemp industry. By tapping into the vast Asian market, the company seeks to broaden its consumer base and meet the increasing global demand for hemp products.
As we witness these developments unfold, it’s clear that the hemp industry is on the cusp of transformation. The narrative and direction of Hempacco’s expansion into new markets is not just business news; it’s a glimpse into the changing landscape of global commerce and consumer trends. Are you keeping up with the rapid changes in this burgeoning sector? Follow the trail of innovation and stay informed on the latest in hemp industry advancements. Your thoughts and comments on this evolving market are encouraged, and I invite you to join the conversation.
