TAAT LIFESTYLE & WELLNESS LTD (CNSX: TAAT) – RICH TV LIVE – JUNE 29, 2020 – While the CBD market is still relatively new in many regions of the world, it has already experienced dramatic innovations over the past few years. The U.S. passed the Farm Bill in late 2018, which legalized the commercialization of hemp-derived CBD products and catalyzed the market. Entrepreneurs then began to develop new methods of consumption of CBD-based products, such as concentrates, extracts, edibles, beverages, tinctures and cigarettes. Overall, CBD became popular as more researchers began confirming that it offers a number of therapeutic benefits. For instance, researchers noted that CBD can alleviate minor medical conditions such as headaches or soreness as well as potentially suppress symptoms associated with severe conditions such as cancer, epilepsy, Alzheimer’s, and chronic pain. As a result, the global hemp market is projected to grow by 23.1% during the forecast period between 2019 and 2025, according to data compiled by QYR Consulting. TAAT Lifestyle & Wellness Ltd. (CSE: TAAT), British American Tobacco (NYSE: BTI), 22nd Century Group, Inc. (NYSE: XXII), Universal Corporation (NYSE: UVV), Imperial Brands PLC (OTC: IMBBY)
Perhaps not surprisingly, hemp and CBD products are potentially stealing market share from other markets, such as tobacco for example. According to data provided by the Brightfield Group and published by Hemp Industry Daily, a survey of more than 5,000 CBD users in the U.S. reveals that 24% have used it to help quit smoking and quitters are often replacing cigarettes with either smokable hemp or vaping. And, 41% of quitters have entirely replaced tobacco with hemp CBD. “It’s not going to be addictive. A lot of the problems we have with tobacco is if you smoke enough of it and you’re pre-disposed, you’re not going to stop. That’s unlikely to happen with hemp since there’s nothing in hemp that we’re aware of that makes people dependent,” Dr. Jordan Tishler, a medical expert at Green Flower Media and the President of the Association of Cannabis Specialists explained to FOX Business. “If you asked me would I rather have my teen smoke hemp, smoke tobacco or vape a Juul, I’d rather have her do none of the above, but the hemp cigarette seems like the least dangerous of the three because it has no nicotine.”
Taat Ltd Founder Joe Deighan commented, ‘The first phase of testing is always the moment of truth with any new product. After years of research and development, the product’s reception by its target audience is the most informative indicator of the product’s quality, innovativeness, and relevance to the intended user base. We are ecstatic to have received such glowing responses regarding Taat hemp cigarettes as a better-for-you alternative to tobacco cigarettes, especially since such feedback was substantiated by additional purchases from the participating retailers that resulted in reorders from more than 75% of stores carrying the test product once they ran out. We believe that the results of this first phase can foreshadow similar results in the focus groups that we plan to conduct in the second phase. We look forward to holding those focus groups as early as this summer, which we hope will further contribute to our momentum leading up to our planned official launch in Q4 2020.'”
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