Cannabis Market Brief: Growing Number of Retailers Adding CBD Infused Products as Revenues Jump
Palm Beach, FL – April 11, 2019 – Recent predictions for the CBD infused products market have created much enthusiasm and the optimists not only see the glass as half full… but they see it as overflowing! The predictions by the Brightfield Group, a well-respected industry reporting firm, in a much-quoted report said, in its headline: “ New Report Predicts CBD Market Will Hit $22 Billion by 2022 – Looking forward to relaxed hemp regulations, a new analysis estimates that the CBD market could explode — and outpace marijuana.” The company also said on its website that: “CBD is growing faster than cannabis in the U.S. and will soon be a $22 billion industry. It’s been flying under the radar but is set to explode having profound impacts on CPG and Pharma. We detail the category growth rates, leading brands, product innovation by segment, clinical trials and regulatory environment.” In fact they also report that retailers… big box retailers, are “Going after CBD.” They also said that: “More and more retailers – including larger chains – are announcing both in-house products and partnerships with CBD brands… This is the tip of the iceberg. We expect large-scale entities to publicly enter the CBD market at a faster rate now that these big names have expressed serious interest, and because the potential market growth is staggering. In fact, we estimate that CBD beauty alone will hit nearly $290 million in 2019. This does not account for large sectors in the food, beverage, and pet industries.” Active Companies from around the market with current developments this week include: PotNetwork Holdings Inc. (OTC:POTN), MariMed Inc. (OTC: MRMD), CV Sciences, Inc. (OTC: CVSI), Leafbuyer Technologies, Inc. (OTC: LBUY), KushCo Holdings, Inc. (OTC: KSHB).
Brightfield concluded: “Due to the wide range of CBD companies that are in the marketplace today, it is paramount that retailers be attentive to the legitimacy, product quality and safety offered by any CBD brands they intend to partner with. Additionally, retailers should align themselves with CBD companies whose positioning and messaging fit with those of their core consumers, which requires a deep understanding of the CBD marketplace – from a regulatory and market perspective all the way down to an understanding of the end-consumer.”
PotNetwork Holdings Inc. (OTCPK:POTN) BREAKING NEWS: PotNetwork today released their fully audited financial statement which shows that the company has made $25 million in revenue over the course of 2018, a 78% increase compared to POTN’s performance in 2017.
This growth has been driven primarily the company’s wholly-owned subsidiary, Diamond CBD, Inc. The company has cemented its position as an industry leader in the growing market for premium hemp extracts. It has seen success by leveraging an aggressive marketing campaign focused on educating consumers about CBD and demonstrating the company’s unique suite of niche CBD products.
The company took advantage of its momentum to expand its research and development, educational marketing campaigns, and successful distribution of an ever-growing range of hemp-derived cannabinoids and other natural hemp derivatives.
PotNetwork Holdings also reported that sales of Diamond CBD Products are coming 60% from its wholesale distribution network and 40% from online sales including from www.diamondcbd.com.
“I am extremely pleased with our year-over-year growth,” said Kevin Hagen, CEO of Potnetwork Holdings, Inc.. “These fully audited financial statements underline an incredible year for PotNetwork Holdings and are the culmination of a lot of hard work and are a sign of great things to come over the course of the next year .” Read this and more news for POTN at: https://financialnewsmedia.com/news-potn/
In the industry developments and happenings in the market this week include:
MariMed Inc. (OTCQB: MRMD), a leading multi-state cannabis and hemp operator, recently announced an agreement with Ilo™ Vapor whereby MariMed is an exclusive distributor of the company’s flagship product, DabTab™ brand dablets. The product is available now to all cannabis dispensaries in Maryland. It will be introduced to Rhode Island, Massachusetts and Delaware dispensaries later this spring.
What is a DabTab™ brand dablet and why is it revolutionary? First introduced at the MJBizCon conference in Las Vegas in November of 2018, DabTab™ is a completely new way to consume cannabis concentrate that is precision dosed, clean, and delivers vapor, not smoke. DabTab™ preserves all the flavor and effects of conventional dabbing, while also providing a new level of convenience and cleanliness for concentrate consumption. A proprietary natural ceramic tablet is precision-infused with cannabis oil holding exactly 50mg of concentrate by weight per DabTab™. They eliminate the mess of handling, burning and cleaning conventional concentrates and shatter, but can still be used in many conventional vaporizers.
CV Sciences, Inc. (OTCQB: CVSI) a preeminent supplier and manufacturer of hemp CBD products, recently announced further expansion of its industry-dominating brand, PlusCBD Oil™. As of March 31, 2019, PlusCBD Oil™ branded products are available in 3,308 retail stores, up 48% from 2,238 retail stores as of December 31, 2018.
The expansion includes broadening distribution of its best-selling topical, PlusCBD Oil™ Extra Strength Balm, into the Food, Drug and Mass (FDM) channel, including programs with leading national retailers. “The passage of the 2018 Farm Bill has accelerated our business development activities and expanded our distribution to new food, drug, mass merchandise retailers,” said Joseph Dowling, Chief Executive Officer. “We are at an important stage in the development of the hemp-based CBD market, and the company is well-positioned to capitalize on both growing consumer demand and the benefit of enhanced regulation that supports and ensures the safest and highest quality hemp-based CBD products for consumers.”
Leafbuyer Technologies, Inc. (OTCQB: LBUY) a leading cannabis technology and marketing platform, recently announced that quarterly cash sales growth rose 36% year over year in the quarter ending March 31, 2019. The increase reflects the cash sales booked in the quarter versus the same quarter of the previous year.
Platform enhancements, including blockchain, order ahead, and Leafbuyer Loyalty, as well as a bolstered, specialized, multi-state sales team and diverse product offerings, account for the year over year success.
KushCo Holdings, Inc. (OTCQB: KSHB) recently announced it will issue its fiscal second quarter 2019 results press release on April 11, 2019 after U.S. markets close. The Company will also host a conference call on Thursday, April 11, 2019 at 4:30 PM Eastern Time. Participant Dial-In Numbers:
Toll-Free: 1-877-407-9039 – Toll / International: 1-201-689-8470 – *Participants should request the KushCo Holdings Earnings Call or provide confirmation code 13688958
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