04 Sep Hemp Industries Association and ValidCare Strategic Alliance Will Provide CBD Market Intelligence Solution for Members
HIA members offering hemp-derived CBD products can power their business strategies with consumer-driven market intelligence
Phoenix, Ariz. and Centennial, Colo. – September 04, 2019 – The Hemp Industries Association® (HIA®), a non-profit trade association consisting of more than 1,600 members, and ValidCare, the market intelligence leader for the canna-based product industry, announced a strategic partnership to connect CBD product manufacturers with consumer-driven CBD market intelligence, to help advance industry knowledge and support the growth, safety and efficacy of cannabis-derived products. The organizations are working together to lead the industry in encouraging collection and use of consumer experience data, which in turn will help inform ongoing product development efforts and address issues such as the U.S. Food and Drug Administration’s (FDA) request for more consumer data on cannabis-derived products.
“HIA is pleased to team with ValidCare to bring more consumer-driven market intelligence data to our members,” said Colleen Keahey Lanier, CEO, Hemp Industries Association. “Trusted data is critical to our industry, starting with genetics all the way through product use. We want to address the need for greater insight and market intelligence directly from consumers. Our members need this data to make farming and business decisions, and regulators have asked our industry to provide more consumer-based information. ValidCare’s unique industry model allows our members and consumers to securely connect and share meaningful data to advance science, agriculture and industry.”
Patrick McCarthy, CEO and founder of ValidCare added, “There is an immediate need in the industry to gather Real World Evidence from consumers using hemp-derived CBD products, and there’s a long term need for businesses to have good market intelligence data to help inform their product development and strategies. Working with HIA and its members holds the promise to exponentially increase the quantity of data available to manufacturers, regulators like the FDA, and even consumers, via our CBD+me app. Ultimately, through the CBD market intelligence solution, HIA members can capture ongoing insights from consumers, get closer to their customers and help de-risk product development.”
To gather data directly from consumers using CBD products, ValidCare offers the CBD+me™ application for both Android and iOS devices. The platform is free to consumers and allows them to track their journey using CBD products, along with their health and wellness goals. Consumers create a profile for themselves or their loved one(s) and can track on an ongoing basis, building a cumulative timeline of effects.
For CBD product manufacturers, ValidCare offers Seed to Outcomes™ Insights, delivering an unprecedented understanding of the cannabis-derived product industry, based on consumer demographics and ongoing experience data.
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Hemp Industries Association
Hemp Industries Association ® (HIA®) is a 501(c)(6), membership-based, non-profit organization that works to advance the hemp economy and educate the market for the benefit of members, the public, and the planet. Since its founding in 1994, The HIA has worked tirelessly for its 1,600-plus members to expand and protect the sale and marketing of hemp products. The culmination of that work was the passing of the 2018 Farm Bill, which officially redefined hemp as an agricultural commodity and removed it from the purview of the Controlled Substances Act, thereby paving the way for a massive expansion of the market and positioning hemp producers to be a global economic force. For more information, visit www.thehia.org.
ValidCare, LLC is the market intelligence platform for the cannabis-derived product industry, powered by real-time consumer experiences. Through the ValidCare community, participants including consumers, product suppliers, researchers, and providers, come together to study, educate, measure and document the consumer experience using canna-based products. ValidCare’s proprietary app (CBD+me™) supports ongoing two-way communication, combining self-reported consumer data with advanced machine learning to deliver aggregated insights that help improve product quality, consistency, effectiveness, and the adoption of industry standards.
For more information, visit www.validcare.com or call 844-825-4322.