Why the CBD Edibles Market Could See $4.1 Billion in Sales by 2022
Palm Beach, FL – August 1, 2019 — Cannabis is quickly becoming one of the most industry-disruptive forces. Multi-billion-dollar industries are already being uprooted by cannabis, including beverages, alcohol, beer, sports drinks, retailers, pharmaceuticals, tobacco, and the wellness industry, as the cultural renaissance just gets underway. All thanks to growing acceptance following Canada’s October 2018 legalization, broad approval for its recreational and medicinal use throughout the U.S., and corporate interest. It’s impacting a range of food, too. Everything from gummy bears and cookies to candy and brownies are being infused with CBD. Better, consumer spending on cannabis-based food and drink reached $1 billion in 2017 just in the U.S. in Canada. By 2022, that could be up to $4.1 billion, according to analysts at Arcview Market Research. That’s opening a wide range of opportunity for companies including Naturally Splendid Enterprises Ltd. (TSX-V: NSP) (OTCQB: NSPDF), The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF).
Naturally Splendid Enterprises Ltd. (TSX-V:NSP)(OTCQB:NSPDF) BREAKING NEWS: Naturally Splendid Enterprises Ltd. just announced that Robert Arthurs has joined the Company in a consultant capacity focused on Business Development in North America, Asia and the EU.
Rob previously held senior leadership positions spanning over 36 years with some notable companies and organizations including the British Columbia Ministry of International Trade. In his role as Senior Manager, Export Development Agri-Foods for the BC Ministry, Rob was responsible for matching over 800 inbound Agri-Food International buyers to British Columbian companies and for leading international trade missions around the world with hundreds of BC Agri-Food companies. Given Rob’s role in agriculture for the BC Government over the past 14 years, he has an accumulated an extensive knowledge base of hemp and CBD (cannabidiol).
Rob also held a key senior position with the 2010 Winter Olympics held in Vancouver/Whistler, British Columbia acting as Manager of Business Opportunities. Rob was the conduit between the Vancouver Organizing Committee and the business community in Canada, developing and delivering 253 procurement (RFP) training workshops for Canadian companies and achieving $1 billion in sales.
Rob Arthurs states, “I first had the opportunity to work with Naturally Splendid in 2016 as a Senior Manager with the BC Ministry of International Trade. Our first project together was the introduction of Naturally Splendid to the South Korean market which resulted in millions of dollars of purchase orders. From that initial opportunity we worked on several other successful projects. It’s with great enthusiasm that I take on the role of Business Development with Naturally Splendid. I will immediately begin to connect the Company to the multitude of business contacts that I have developed throughout the world over the past 3½ decades.” Naturally Splendid President Mr. Craig Goodwin states, “We are most fortunate to attract the level of businessman we have in Rob. His entrepreneurial spirit combined with his experience working within government at a senior level and the many contacts he has developed during his career, provide a wealth of opportunities for Naturally Splendid. We know Rob well from our past business experiences, and we are confident he will be a great fit for our organization. He’s arriving at a time when we are primed for processing expansion in both areas of our own branded products and in custom production and packaging for third party clients.” FOR MORE INFORMATION ON NSP, PLEASE VISIT: https://www.naturallysplendid.com/
Other cannabis-related developments from around the markets include:
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF) announced that its flagship Valleyfield, QC facility has received its organic certification from Pro-Cert, an internationally recognized leader in organic certification. Once completed, TGOD’s Valleyfield facility is going to be the world’s largest organic cannabis facility at over 1.3 million square feet. This Pro-Cert recognition adds another certification to the Company’s portfolio, in addition to TGOD’s already certified organic growing facilities in Canada and Europe, and shows TGOD’s commitment to cement its position as the leading organic cannabis brand globally. “It’s exciting to reach new milestones as we begin commercial production. Growing certified organic cannabis at scale is a highly complex process which has taken time, great care and extensive research to refine. Each of our facilities goes through a robust certification process, in line with the high standards we have set, ensuring operational excellence at all stages,” commented Brian Athaide, CEO of TGOD. “The proprietary methods our team has developed leverage the benefits of growing in living soil and guarantees the organic integrity of the products throughout the entire production chain.”
Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF) just issued the following statement in response to a letter from the U.S. Food and Drug Administration regarding its CBD product marketing. Curaleaf is committed to the highest standards of quality and compliance, and will work collaboratively with the FDA to resolve all issues addressed in the agency’s letter. The Company will respond to the FDA letter within the required 15 working days. Compliance is a top priority for Curaleaf and the Company is fully committed to complying with FDA requirements for all of the products that it markets. We can affirm that nothing in the letter raises any issues concerning the quality and consistency of any Curaleaf product or calls into question the high safety standards of the Company’s cultivation and manufacturing processes. Curaleaf CBD products are all derived from hemp and meet the requirements of the Farm Bill.
Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community’s first cannabis store, on July 9, 2019. This is GTI’s 26th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI’s branded cannabis products including Rhythm and The Feel Collection. “We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness,” said GTI Founder and Chief Executive Officer Ben Kovler. “Our Rise stores provide exceptional customer care and we’re thrilled to serve the people of Oviedo and surrounding communities.”
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) just announced that it has surpassed 50 Seventh Sense Botanical Therapy shops open in four months. The first Seventh Sense shop opening was announced mid-February, and, since that time, GGB has continued to roll out its Seventh Sense shops at a rapid pace. The Company anticipates opening more than 200 such shops by the end of 2019. Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories. “This rapid rollout across the U.S. is truly unprecedented,” said Peter Horvath, CEO of Green Growth Brands. “We expect to open over 200 shops this year and are confident that we are building one of the largest and most valuable distribution networks for CBD.”
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