Booming Demand for CBD Creating a $23.7 Billion Market Opportunity

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PALM BEACH, Florida, Aug. 6, 2019 /PRNewswire/ -- Since the U.S. Farm Bill became law, global demand for CBD-rich consumer products has been increasing at a rapid pace. In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023, as CBD finds its way into a variety of consumer product categories including  food and beverage, pharmaceuticals, cosmetics, and health and wellness.  Better, according to a May 2018 survey from Nielsen, analysts found that consumers are quickly embracing CBD products, particularly when it comes to medicinal purposes. In fact, according to the survey, 40% of head and migraine suffers are considering cannabis in addition to 40% of all arthritis pain suffers, and 41% of all back and neck pain sufferers. That's opening a wide range of opportunity for companies including MYM Nutraceuticals Inc. (OTCQB:MYMMF) (CSE:MYM), Cronos Group Inc. (NASDAQ:CRON), Aphria Inc. (NYSE:APHA) (TSX:APHA), Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB) and Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).

MYM Nutraceuticals Inc. (CSE:MYM)(OTC:MYMMF) BREAKING NEWS: MYM Nutraceuticals just announced the incorporation of MYM International Brands Inc. to focus on the growing global demand for CBD-rich consumer products. The passing of the Farm Bill in 2018 allowed for the cultivation of CBD-rich hemp in the United States. "As global cultivators of CBD-rich hemp, we have the expertise and network to expand our business into CBD consumer products," said Howard Steinberg, CEO of MYM. "Erick Factor will lead this initiative as Chairman and CEO of International Brands which is an extremely important initiative for the company. The senior management team is excited about Erick taking on this tremendous opportunity. Erick is well equipped to meet the challenges of product development, branding, and distribution to help us be successful in the CBD consumer products space. In order to focus his full attention on this new role, Erick has decided to resign as Chairman of MYM Nutraceuticals."

"Five years ago, I founded MYM Nutraceuticals with the goal of creating a fully integrated, seed to sale, global cannabis company. Now with offices in six countries and growing, we're in a position to create a new revenue stream with unique brands. To this end, I'm extremely excited to launch MYM International Brands at a time when CBD-rich consumer products are still in their infancy", said Erick Factor, CEO of MYM International Brands. "The team has a tremendous opportunity ahead of us to become global leaders in a burgeoning new consumer products sector. We're eager to hit the ground running and confident our new division can add value to MYM shareholders".  FOR MORE INFO ON MYM, PLEASE GO TO https://www.mym.ca/