LAS VEGAS, Nov. 18, 2024 (GLOBE NEWSWIRE) – One World Products, Inc. (OWP) (OTCQB: OWPC)Recognized for its innovative approach to eco-friendly materials, it proudly announces significant progress that solidifies its influence in the rapidly expanding industrial hemp market. Celebrating receipt of his first royalty payment, Isiah Thomas, President and CEO of OWP, says: “Our strategic partnerships with industry giants like Stellantis (NYSE:), Flex-N-Gate, Orbis and West Michigan Compounding “They are critical as we drive the integration of green practices into mainstream markets. With their support, we are setting new benchmarks for what it means to operate responsibly within the automotive industry.” OWP highlights its readiness to take advantage of growing business opportunities and invites significant industry attention.
This significant progress coincides with the projected growth of the global industrial hemp market, which is expected to reach $16.82 billion by 2030, expanding at a compound annual growth rate (CAGR) of 17.5% from 2024, as is highlighted in a 2024 Grand View Research report. The increase in market value is largely attributed to the growing applications of hemp in a variety of sectors, including automotive, construction, food and beverage, personal care and textiles, reflecting their growing integration into mainstream industries.
OWP’s strategic initiatives have successfully penetrated high-growth areas and the company is currently finalizing another major order for its pioneering hemp-based containers, reflecting strong market confidence in OWP’s eco-responsible solutions. This development is reinforced by strategic collaborations with industry leaders, showing a collective movement towards more sustainable industrial practices.
In the packaging sector, the push towards renewable materials is accelerating as major companies commit to reducing single-use plastics. OWP, in collaboration with partners such as Orbis and Flex-N-Gate, offers viable and sustainable hemp-based packaging solutions that could dramatically reduce the ecological footprint of the packaging industry.
Leveraging insights gained from Isiah Thomas’ extensive connections within the professional athlete community, OWP’s Pro-11 wellness line meets growing consumer preference for green and health-conscious options, positioning OWP to capitalize on this lucrative market trend.
As OWP transitions from its previous focus on cannabis operations in Colombia to embrace new opportunities, the strategic shift ensures alignment with global sustainability goals and market demands. This shift leverages OWP’s strengths in innovation and market responsiveness, fostering long-term growth and environmental integrity.
A key focus this quarter has been improving financial reporting processes at One World Products, significantly advanced thanks to streamlined procedures implemented by Chief Financial Officer Todd Peterson. This effort underscores the Company’s commitment to meeting scheduled filings, marking a substantial step in strengthening its operational capabilities under Peterson’s leadership.
With strong industry support and clear strategic directions, OWP invites investors and stakeholders to join as it ascends to new heights in these dynamic sectors. Located at the forefront of the green materials revolution, OWP presents a compelling opportunity for those committed to innovation and sustainability.
For more information, visit https://oneworldproducts.com #HempIsTheNewPlastic (™)
Forward-looking statements:
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends”, “may”, “plans”, “expects”, “anticipates”, “projects”, “predicts”, “estimates”, “objects”, “believes”. “, “hopes”, “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Company and cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect realization is set forth. of forward-looking statements in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Investors and security holders are encouraged to read these documents for free on the SEC’s website at www.sec.gov.
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Investors contact:
Products of a world, Inc.
chris.wolven@owpv.com
800-605-3210 x506
Source: One World Products, Inc.