CannabisNewsWire
Editorial Coverage: Analysts at Brightfield Group see CBD
(cannabidiol) gobbling up a sizeable chunk of a projected $100
billion nutraceuticals 2022 U.S. market.
- Growing CBD market could eclipse broader cannabis market
- Consensus about health benefits backed by clinical work,
personal endorsements lead to heightened interest
- CBD found in vast array of new products
As CBD moves into the mainstream, opportunities are likely to
grow exponentially for a variety of companies, including
plant-based health and wellness product developer
Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) (WLDFF
Profile). Canadian company Tilray Inc.
(NASDAQ: TLRY) is riding the wave by acquiring Manitoba
Harvest, the world’s largest hemp foods company. Cronos
Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced
it has closed a billion-dollar equity investment from an outside
company. Canopy Growth Corporation (NYSE: CGC) (TSX:
WEED) just received a cultivation license from Health
Canada for its facility in New Brunswick. Aphria (NYSE:
APHA) (TSX: APHA) also received additional licensing
approval from Health Canada, permitting the company to commence
production in an additional 800,000 square feet of facilities.
To view an infographic of this editorial, click here.
An Established Wellness Ingredient Goes
Mainstream
The recent passage of the Hemp Farming Act in the 2018 U.S. farm
bill made hemp an ordinary agricultural commodity, swinging open
the door for hemp-derived CBD. The industry is seeing everyone from
A-list celebs at the
Oscars to noted medical professionals such as American
neurosurgeon Dr. Sanjay Gupta extolling the therapeutic benefits of
CBD.
Already incorporated into to a wide variety of functional foods
and beverages, CBD has also started to show up in coffee and
cocktails, with specialty CBD drinks joining the menus at bars and
coffee shops across America. Many users swear by the efficacy of
CBD to combat ailments
such as anxiety, sleeplessness or physical pain.
With mounting therapeutic credence and a raft of celebrity
endorsements, its little wonder that CBD has exploded into the
mainstream. Product developers have been scrambling to incorporate
cannabidiol into every kind of consumer product imaginable, from
health and beauty items for the skin to tasty treats for the family
pet. The accumulating evidence for CBD’s health benefits also owes
a great deal to watershed achievements such as Epidiolex, a
CBD-derived anti-seizure medication that has been through numerous
clinical trials, becoming the first FDA approved cannabis-based
drug utilized to treat severe forms of childhood epilepsy.
There’s an emerging consensus among consumers that CBD has broad
ranging medicinal benefits with the ability to treat something as
serious as epilepsy yet also safe enough to be used for daily aches
and pains or address a myriad of anxieties and ailments. This
awareness, combined with the rapid proliferation of CBD consumer
products ranging from vape pens to functional foods, has led to a
veritable grassroots market revolution.
Any lingering stigma or confusion between CBD and THC is rapidly
eroding, particularly with the likes of homemaking legend Martha
Stewart now providing her knowledge of consumer products to CBD
developers. And household names
such as Kim Kardashian, Olivia Wilde and Jennifer Aniston are also
going on record as having enjoyed the health benefits associated
with their personal consumption of CBD products.
Growing Consensus about Healing Power of
Plants
Grabbing A-list celebrity attention, the Wildflower
Brands Inc. (OTCQB: WLDFF) (CSE: SUN) CBD+ Healing Stick was in each of the gift bags of the stars during Oscar weekend 2019.
Packing 500mg of highly concentrated, full-spectrum CBD,
Wildflower’s cooling and soothing stick is easy to apply for
targeted pain relief and skin care, providing relief through a
unique CBD blend that includes therapeutic ingredients such as
arnica, wintergreen and other essential oils.
An established, respected brand, Wildflower Wellness’s
overriding mission is to connect people to the healing power of
plants via the company’s increasingly
sophisticated line of CBD vaporizers, capsules, tinctures,
soaps and topicals - formulating its extracts with essential amino
acids and beneficial terpenes, the organic compounds that provide
flavor and scent. A testament to the popularity of Wildflowers’
proprietary formulations can be found in a NY Magazine article
“The Best CBD and
Hemp Products for the Tasteful Non-Stoner” touting the
company’s CBD Immunity Vaporizer, stating that, “Wildflower also
made the perfect CBD starter kit…”
The company’s products are made in the United States at
Wildflower’s GMP facilities, third-party lab tested and backed by a
100 percent satisfaction guarantee. Wildflower's well-formulated,
convenient and consumer conscious products such as its disposable
ACHES CBD+ vaporizer are increasingly enjoying widespread
acceptance, in part due to education of the consumers by cannabis and wellness influencers.
Flexing its branding and marketing muscle, Wildflower Wellness
partnered with Bridges General to take that company’s reimagined
convenience store concept to the next level. The partnership fuses
together the immense popularity of the Bridges General
design-centric retail space that delivers convenience for the
on-the-go urban professional with an engaging opportunity to
experience and learn about the benefits of CBD. The partnership is
already serving some of the most powerful and influential people in
the country at its Lower Manhattan store, as well its Madison
Avenue Bridges General store. Further expanding reach, Wildflower
has also engaged Retail Worx to establish shop-in-shop retail
availability at more than 20 locations in the heart of New York
City’s booming cannabis market.
Industry Seeing Retail Renaissance in Consumer
Products
Wildflower continues to expand its impressive retail reach, with
the Wildflower Wellness brand already enjoying distribution in key
states, such as Washington at more than 200 retailers. The
company’s California-based King Extracts brand is focused on
cannabis technology and delivery systems. The company’s King
Extracts product, the King Recharge,
is a discreet but powerful little pocket vaporizer that comes in
its own sleek charging and storage case, which has room for two
500mg cartridges and a backup battery.
King Recharge offers fractionally distilled CO2 extractions in
exceptionally clean and sophisticated blends that utilize
proprietary terpenes in order to deliver a full, robust flavor
profile. Sativa, Indica and Hybrid, as well as two limited-edition
Sativa flavors (watermelon and bubble gum), are currently
available. Additionally, Wildflower’s growing national distribution
arm includes over 80 other wellness and healthcare practitioners,
bringing the company’s total to some 300-plus stores
nationwide.
The company has even branched out into physical retail itself,
harnessing the power of increasing brand recognition, a firm
footing in the California market and tightly knit relationships
with local hospital oncology departments and community programs.
Wildflower has launched its own dispensary in Los Angeles and
provides on-demand, legal and licensed cannabis delivery services
to adults in the L.A. area. The second quarter of 2019 saw the
10th consecutive quarter of increased revenue
for Wildflower, with $1.4 million in sales underscoring a
burgeoning direct-to-consumer online channel that witnessed 300 percent growth last year alone.
Many analysts are saying that the CBD rush is just getting
started. One recent estimate
indicates that the CBD market alone could eclipse the entire
remainder of the cannabis market combined. Wildflower is making all
the right moves to capture an outsized share of the CBD
bonanza.
A Rising Tide Lifts All Boats
Other companies are recognizing the potential profit CBD may
provide. Canadian company Tilray Inc. (NASDAQ:
TLRY) just finalized its acquisition of Manitoba Harvest,
a move Tilray president and CEO called a milestone for the cannabis
industry. "It builds on the strategic partnerships we have formed
with consumer brand industry leaders and demonstrates our track
record of disrupting the global pharmaceutical, alcohol, CPG, and
functional food and beverage categories,” said Brendan Kennedy. The deal gives Tilray access to
a broad portfolio of food products that are distributed in 16,000
stores across the United States and Canada, as well as the
opportunity to expand beyond the food category, possibly including
extracts.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON)
just closed a C$2.4 billion
investment from Altria, the American company behind brands such
as Marlboro and Benson & Hedges. The move is a sign of the huge
interest the CBD market is generating from companies both in and
outside the industry. Cronos operates two wholly owned,
Canadian-licensed producers and has multiple international
production and distribution platforms and partnerships across five
continents. Cronos intends to continue to expand its global
footprint as it focuses on building an international iconic brand
portfolio and developing disruptive intellectual property. The
company is committed to building industry-leading companies that
transform the perception of cannabis and responsibly elevate the
consumer experience.
Canopy Growth Corporation (NYSE: CGC) (TSX:
WEED) predicts the new
facility in Fredericton, New Brunswick, will produce more than
5,000kg of cannabis annually, with first harvests expected to
become available to the market within six months. In addition, the
company expects to create more than 130 jobs at the plant. “New
Brunswick has emerged as a leader in the legal cannabis sector, and
the province is an excellent place to do business,” said co-CEO and
Canopy Growth chairman Bruce Linton. “We will leverage our existing
operational expertise to ensure we support the needs of our
customers while making a meaningful contribution to the local
economy primarily through new job creation.”
As part of its Part IV and Part V
expansions, Aphria (NYSE: APHA) (TSX: APHA) is
increasing production at its Aphria One location. The expansions
brig industry-leading automation to the company. While critical
phases such as initial cuttings, trimming and pruning mature plants
will be performed by hand, the in-house designed technology will
automate key steps, including transplanting cuttings, transplanting
plans through harvesting, de-budding and rough trimming, drying and
curing, and waste disposal.
With the 2018 Farm Bill thrusting hemp-derived CBD into the
limelight, the broader industry likely stands to experience a
rising tide that will lift all boats.
For more information on Wildflower Brands, visit Wildflower
Brands Inc. (CSE: SUN) (OTCQB: WLDFF)
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