Global Demand for CBD Gummies Could Create a $6.94 Billion Opportunity

January 14, 2021 - Baystreet.ca


Over the next five years, the global CBD gummies market could be worth up to $6.94 billion, according to Grand View Research. Helping to drive a good deal of that growth, they note, is the growing trend of cannabis legalization around the world. In the U.S. for example, a Biden Administration coupled with a Democrat-led Congress could increase the likelihood of legalization. In addition, “Considering that the market could see favorable U.S. Food and Drug Administration guidance or legislation from Congress approving CB in ingestible products next year, Nielsen expects that by 2025, the market for hemp-derived CBD products will generate $6.9 billion, – a threefold increase over five years.”

Coupled with rapidly changing consumer attitudes and sizable consumer demand, even large retailers such as Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, Sephora, CVS, American Eagle, and Walgreen’s have started to carry CBD products. With global demand growing, some of the top CBD companies to keep an eye on include Plus Products Inc. (CSE: PLUS)(OTCQX: PLPRF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTC:CWBHF), and cbdMD Inc. (NYSE:YCBD).

Plus Products Inc. (CSE: PLUS)(OTCQX: PLPRF) BREAKING NEWS: Plus Products Inc. a cannabis and hemp branded products company in the U.S., today announced it has entered an exclusive sales agreement with Elements of Green, a European eCommerce marketplace for hemp CBD products, to offer its products across the United Kingdom.

As of today, PLUS 100% hemp CBD Gummies are available for sale in the United Kingdom exclusively through Elements of Green. The initial product offering will consist of Grapefruit CBD Uplift and Blueberry CBD Balance.

Since launching THC products in 2016, PLUS has emerged as a leading edibles brand in California, the world’s largest adult-use cannabis market. The Company launched its 100% hemp CBD line across the United States in September 2019.

"One of our goals at PLUS is to put our products in the hands of as many consumers as possible, and we believe working with Elements of Green provides us with the best opportunity to make that goal a reality in the United Kingdom," stated Jake Heimark, CEO and Co-founder. “This represents an exciting opportunity for PLUS as our first expansion into the international market, and we are thrilled to be working with Elements of Green in taking this step as a company.”

"Partnering with PLUS, a leading edibles brand in the world’s largest adult-use cannabis market, for their initial hemp CBD expansion beyond the United States is a tremendous opportunity," commented Daniel Brody, CEO of Elements of Green. "We are excited to be the platform of choice for PLUS.”

Other related developments from around the markets include:

Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED) announced that it has entered into an arrangement agreement with its wholly-owned subsidiary The Tweed Tree Lot Inc., Canopy Rivers Inc. and its wholly-owned subsidiary Canopy Rivers Corporation pursuant to which Canopy Growth will acquire certain assets from CRC, as set out below, in exchange for cash, common shares in the capital of Canopy Growth and the surrender of all shares in the capital of Canopy Rivers held by Canopy Growth by way of a plan of arrangement under the Business Corporations Act (Ontario). “Canopy Rivers was established in 2017 as a strategic investment vehicle for Canopy Growth, helping us pursue key business opportunities including development of the Vert Mirabel greenhouse which today is a very important component of our Canadian cannabis operations,” said David Klein, CEO, Canopy Growth. “With our new strategy in place, it is appropriate for us to divest our interest in Canopy Rivers to increase our focus as a company.”

Tilray Inc. (NASDAQ:TLRY), a leading company in the manufacture, research and distribution of medical cannabis, announced that it has entered into a co-promotion agreement with Hormosan for its full-spectrum cannabis extracts in Germany effective 1 January 2021. Hormosan is primarily focused on pain therapy and neurology and is part of the Lupin Group, an international entity that sells innovative drugs and generics. Hormosan will support Tilray in its marketing and sales activities of full spectrum cannabis extract in Germany. Through this strategic partnership, the expertise of both Tilray and Hormosan will be leveraged to expand Tilray’s presence in the German market. Tilray launched its full-spectrum cannabis extracts in October 2017 and last expanded the range in May 2020. The range includes an extract with a balanced THC-CBD ratio, a CBD-dominant extract with a low THC content and a pure THC full-spectrum extract. According to the legal regulation, the use of cannabis full-spectrum extracts is not restricted to a specific indication, but the treating doctor decides at their own discretion whether a treatment is suitable. The Tilray extracts are used for chronic pain, spasticity, sleep disorders and a variety of other indications.

Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTC:CWBHF), the market leader in hemp CBD wellness products, announces that Charlotte's Web, Inc., a wholly-owned subsidiary, has been granted U.S. Utility Patents for its hemp genetics by the United States Patent and Trademark Office. The newly issued patents cover two of the Company's new feminized seed hybrid hemp varieties developed under the Company's breeding program; 'Kirsche' (US Patent No. 10,888,060) and 'Lindorea' (US Patent No. 10,888,059).  'Lindorea' and 'Kirsche' are the world's first two allowed U.S. Utility Patents reading on feminized hybrid hemp plants. The Company now has earned a total of five U.S. hemp variety patent grants: one Plant Patent and four Utility Patents as it advances the science of hemp horticulture. "Achieving the first patented hemp hybrids demonstrates that it is possible to improve hemp through similar methods as other agronomic crops using natural breeding techniques.  We believe that 'Kirsche' and 'Lindorea' are some of the hardiest botanical hemp varietals under cultivation." said Bear Reel, Charlotte's Web vice president of cultivation and R&D and the developer of the new varietals.

cbdMD Inc. (NYSE:YCBD), one of the leading, and most highly trusted and recognized cannabidiol (CBD) brands, announced that the company is expanding its direct-to-consumer operations into the United Kingdom (U.K.), officially launching its new website exclusively for customers in the U.K. Expanding upon the CBD brand’s comprehensive, wholesale-focused partnership with European-based distribution company, Ultra Sport EU, cbdMD’s new direct-to-consumer website will allow U.K. consumers to shop for cbdMD’s best-selling CBD oil tinctures, CBD oil softgel capsules, and CBD gummies products online, with all orders shipping directly from its U.K.-based warehouse.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Plus Products Inc. by a third party. We own ZERO shares of Plus Products Inc. Please click here for full disclaimer.

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