CALIFORNIA: Wanderport Corporation has announced that the company will be expanding its industry footprint with the addition of a quality line of hemp infused tea selections. Launching the product line with an initial two to three flavors, management plans to deliver top quality specialty hemp and CBD blends to the robust market of tea consumers.
As the second most widely consumed beverage worldwide, approximately 1.5 million pounds of tea is consumed in the US every day, creating a demand to import an average of 540 million pounds of tea to the US annually. This segment of the beverage industry is projected to reach $19 billion in the US by 2020.
“When combined with forecasts for CBD’s projected growth, it becomes evident that the premium infused tea sector of our operation has tremendous potential for significant growth, while single serving sized specialty coffee selections bring our distinct hemp and CBD coffee blends to a substantial convenience driven segment of the coffee industry,” stated Ty Cha, CEO of Wanderport Corporation.
Forbes.com recently reported that The Hemp Business Journal had estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources, a 700% increase from 2016.
With an estimated 25% of United States households owning single serve coffee brewers, management has high expectation for how this singular serving size sector can thrive. Wanderport’s current premium line of Sapa Coffee hemp blends include Colombian, Colombian Decaf, Italian Roast Espresso, French Vanilla and Hazelnut flavors. The specialty CBD coffee line consists of Colombian, Colombian Decaf, and Italian Roast Espresso flavors, with 300mg of CBD per 12 oz bag.