Cannabis Market Brief

Growing Number of Retailers Adding CBD Infused Products as Revenues Jump

PALM BEACH, Florida, April 11, 2019 /PRNewswire/ -- 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."