Light On Technology is Attending the Asia-Pacific Industrial Hemp Industry Expo

Light On Technology is attending the Asia-Pacific Industrial Hemp Industry Expo. Yunnan Station-the second 520 Industrial Hemp Festival will be held on July 2-3, 2021.

The Asian industrial hemp industry lies in China, and the Chinese industrial hemp industry in Yunnan.

Meet in Kunming to empower the entire industrial hemp industry chain!

Stripping off the subjective fear of the word "hemp" in industrial hemp, industrial hemp is re-entering the mainstream market vision as an economic crop. Compared with the industrial hemp sector of major global stock markets in 2019, the hemp index continued to rise at the limit. In the first half of this year, the domestic capital market paid less attention to industrial hemp. In the second half of the year, domestic and foreign industrial hemp-related policies frequently appeared. Biden was elected 46th President, which is to promote the legalization of marijuana across the United States, the European Union decided that CBD (cannabidiol) can be added to food, the Tokyo Olympics will be the first Olympic Games where CBD (cannabidiol) can be used, and the United Nations Commission to amend the convention to officially recognize cannabis The medicinal value and legality of marijuana will promote the development of the global cannabis medical industry and promote policy upgrades. The global cannabis industry will once again set off a huge wave. It is expected that the downstream applications of the domestic and foreign industrial hemp industry will grow rapidly in 2021.

In 2020, the legal medical cannabis market in the United States will reach US$7.7 billion. As the market continues to open up, the medical cannabis market is expected to reach US$13.1 billion in 2025.

Figure: Estimated size of the legal medical marijuana market in the United States (US$ billion)  Source: Tianfeng Securities Research Institute, ACU

According to the New Frontier report, 16% of European consumers have used CBD, and 58% of European consumers have used CBD in the past six months. According to data from Orian Research Group, the European CBD market is about 450 million Euros. By 2023, the European CBD market is expected to reach at least 1.5 billion Euros.

Figure: European CBD consumer consumption frequency statistics Source: New Frontier, Tianfeng Securities Research Institute

Jefferies analysts predict that in the next ten years, CBD beauty products alone will reach US$25 billion and will account for 15% of the entire skincare market. Previously, "Future Market Insights" released a report titled "CBD Skin Care Market: Global Industry Analysis and Opportunity Assessment 2019-2027". The report pointed out that the sales revenue of CBD skin care products in 2019 is expected to exceed US$645 million. It is estimated that by 2027, the compound annual growth rate of this market will exceed 33%.

In 2020, news of the domestic industrial hemp industry continues. The Yunnan Industrial Hemp Industry Association and the Kunming Industrial Hemp Industry Association have been established successively. The Kunming Municipal People’s Government officially released the "Kunming City's Three-Year Special Action Plan for the Development of the Industrial Hemp Industry (2020-2022)" , "Kunming City's Industrial Hemp Industry Support Platform Construction Overall Plan" and "Kunming City's Eight Measures for the High-Quality Development of the Industrial Hemp Industry" three supporting policy documents.

As of September 2020, the province has obtained more than 90 industrial hemp planting licenses, with a planting area of 90,000 mu; 15 companies that have obtained CBD extraction and processing licenses, and more than 60 companies that have obtained pre-approval. CBD extraction and processing capacity Over 50 tons/year, it has become the main planting area of global industrial hemp and the main production area of high-quality raw material CBD.

In this context, the Asia-Pacific Industrial Hemp Industry Expo. Yunnan Station-the second 520 Industrial Hemp Festival will be held on July 2-3, 2021, at the Yunnan•Kunming Dianchi International Convention and Exhibition Center. This is a unique domestic industrial hemp industry upstream and downstream industry chain exchanges and product exhibitions. It faces domestic and foreign industrial hemp industry leaders, experts, scholars, and business elites, understands the most cutting-edge domestic and foreign industrial hemp market conditions, and enhances the relationship between enterprises and enterprises. , Business exchanges and cooperation opportunities between enterprises and governments, domestic and foreign countries. The two-day summit forum, with topics ranging from industry overview to industry information and investment opportunities, is suitable for all kinds of guests who are interested in the cannabis industry.

Due to the epidemic, the first 520 Industrial Hemp Festival was hosted by the Asia-Pacific Industrial Hemp Association & 36Kr Online, with 100,000+ viewers, and many heavy guests brought the most forward-looking industry latest information sharing, which helped the industrial hemp industry. The promotion from the technology end to the marketing end played an advocating role and aroused public attention and heated discussions.

Light On Technology will attend this Hemp Festival at the time with its high technology LED grow lighting solutions. Hopefully we can meet you guys there.