Major Retailers Racing to Meet Sizable Demand for CBD Products
Palm Beach, FL – May 9, 2019 – Nearly 7% of Americans use CBD, according to Cowen & Co. analysts. In fact, according to Cowen’s January 2019 consumer survey of 2,500 adults, 6.9% of respondents are using CBD. “This initial response piqued our interest considerably, as it was much higher than we would have suspected,” they said, as quoted by the Press Herald.
By 2025, Cowen & Co. analysts believe CBD use will grow to 10% of Americans, which implies a potential $16 billion market opportunity. Along the way, retailers have been quick to wake up to that very opportunity.
For example, Neiman Marcus will sell CBD. Simon Property Group is partnering with Green Growth Brands. CVS will now carry CBD products across the U.S. The Vitamin Shoppe just announced it will sell CBD products. In addition, Abercrombie & Fitch just partnered with Green Growth Brands to sell CBD body care products. Some of the top companies in the industry include The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Curaleaf Holdings Inc. (CSE:CURA) (OTC:CURLF), The Green Organic Dutchman (TSX:TGOD) (OTC:TGODF) and Charlotte’s Web Holdings Inc. (CSE:CWEB) (OTC:CBWHF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp and its Urban Juve skincare and wellness subsidiary already established deeper and wider channels to market than expected within months of launching earlier this year. In fact, to date 109 retailer partnerships are confirmed and consumer sales are tracking well for products that are coming to define a new hemp-powered movement in skincare. At the same time, the company announces the launch of its essential channel to market: a new B2B and B2C website at urbanjuve.com.
“The retail market for unisex, Ayurveda, hemp skin care and wellness products is not only on trend, but it also reflects a health paradigm,” says Penny Green Yield Growth President and CEO. “At the heart of all of our proprietary recipes is the root of cannabis sativa, a plant which is central to Ayurvedic tradition thanks to its well-established anti-inflammatory characteristics.” For more information and additional news for BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF) just announced it signed an agreement to acquire Cura Partners, Inc., which owns the Select brand, in an all-stock transaction valued at $948.8 million. The acquisition includes Select’s manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name, including all intellectual property. Select is the most well-known cannabis wholesale brand in the country with its products sold in more than 900 retailers.
“The transformational acquisition of Cura and the Select brand is another step in our journey to create the most accessible cannabis brands in the U.S.,” said Joseph Lusardi, CEO of Curaleaf. “The combination of Curaleaf and Select is a perfect fit. With our industry leading capacity, expansive retail distribution network and Select’s impressive sales and marketing capabilities, we intend to meaningfully accelerate our topline growth trajectory with the addition of the Select Oil product range. In addition, we intend to create significant operational synergies from the integration of Select’s wholesale business with our vertically-integrated cultivating, processing and retail platform. We look forward to welcoming the talented Select team who will bring superior brand marketing expertise and a culture of innovation in technology and product development.”
The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) is developing a distribution hub for beverage and edible products for Canada and abroad. “We believe that the beverage and edible market will be the largest single segment of the cannabis market. Cannabis, as the base ingredient, makes these products possible. The medicinal and recreational market for CBD and THC will only increase over time and starting with an organic input is the most important aspect to developing these higher margin products,” notes TGOD President Csaba Reider.
Charlotte’s Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF) manufactures and markets CBD wellness products, including capsules, topicals, and gels in more than 3,000 retail locations throughout the U.S. In May 2019, the company even expanded its canine-focused pet products line, launching hemp-extract infused chews, oils, and topical balms. According to the Brightfield Group, the CBD pet market alone is forecast to grow at a CAGR of 151% between 2018 and 2022 to $1.16 billion.
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