Big things are planned for inSupply Labs in 2020. We will continue to develop state of the art techniques to maximize our cannabinoid extraction methods. The Company will stay ahead of the curve by designing and building new equipment for processing hemp and isolating cannabinoid compounds. Our engineers and machinists are incredible at taking our engineering visions and fabricating them into stainless steel machines that are unrivaled in efficiency and quality.
The Company expects the hemp industry to continue its explosive growth. Increasing application usage in personal care, food & beverage, textile and bio composite industries is projected to drive industrial hemp market size. Rise in hemp oil demand on account of high essential fatty acid content that prevents and alleviates ailments are the factors contributing to industry growth from food & beverage sector. Global food & beverage market size was valued at over $1 trillion in 2019. Shift in consumer sociological & health trends towards healthy foods, improving personal health and rising elderly population will boost industry growth.
InSupply Labs has the infrastructure to build out their existing facilities and attract highly skilled labor as the business expands. Staying local also gives InSupply Labs the opportunity to work with a number of hemp farmers who surround the Portland area, including family-owned growers throughout Oregon and Washington.
InSupply Labs looks forward to a mutually prosperous and profitable future with its customers in the burgeoning hemp industry – truly a growth business.