COLORADO: Functional Remedies, vertically integrated manufacturer of whole-plant hemp oil products, announced a major expansion of its lab and production facility from 2,000 square feet to a new 25,000-square-foot facility located in Louisville, CO to meet the rapidly growing demand for its products across the U.S. and globally. Additionally, Functional Remedies recently moved into new 4,000-square-foot executive offices to house its expanding team.
“We are excited with our rapid growth, and our latest production and office expansions will help us continue building the most-advanced operations in the industry to meet the increasing demands for our full-spectrum hemp products domestically and internationally,” said Functional Remedies CEO Anthony Mazzotti. “We are fully executing on our aggressive 2019 plans and exceeding consumer expectations of how highly efficacious, full-spectrum hemp oil can impact health and wellness.”
Functional Remedies also recently announced that it signed five new agreements with natural retail broker networks to expand the distribution footprint of its products from 21 to 48 U.S. states. This comes at a time when the global industrial hemp market size is expected to reach USD $10.6 billion by 2025 and expand at a CAGR of 14 percent during the forecast period, according to a new report by Grand View Research, Inc.
“Our state-of-the-art 25,000-square-foot laboratory houses the production of the industry’s only hand-pressed, full-spectrum hemp oil using a proprietary whole-plant, lipid infusion process,” said Functional Remedies Chief Science Officer Tim Gordon. “Consumer demand is growing faster than education or regulatory structures can keep up, and many inferior products are willingly filling that grey market void. Functional Remedies’ mission is to continue educating consumers on the difference between lipid-infused, full-spectrum hemp oil and the majority of other products that are actually CBD isolate and concentrates made using harsh, CO2 extraction methods. Many of these products are mislabeled as full-spectrum which only adds to consumer confusion,” Gordon added.