CannabisNewsWire
Editorial Coverage: The CBD market is seeing strong growth and
a move towards the mainstream.
- The North American CBD market, worth more than $9 billion in
2017, is projected to be worth $47 billion by 2027.
- Growth is possible partly through mainstream acceptance, with
pressure on a variety of institutions to accept medical CBD.
- Leaders are emerging within the CBD and cannabis markets, as
leading voices gain recognition for their work.
Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN)
(WLDFF
Profile), which focuses on health and wellness
products, is benefiting from this growth through the establishment
of strong distribution deals. Focused on the organic market,
Green Organic Dutchman (OTCQX: TGODF) (TSX: TGOD)
has significantly increased its output to meet demand.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) has
earned its CEO industry-wide recognition through strong growth and
a powerful place as a market leader. HEXO Corp. (NYSE
American: HEXO) (TSX: HEXO) is pushing CBD and cannabis
toward the mainstream through connections with food and consumer
product companies. Significant developments in science and
agriculture, where Charlotte’s Web Holdings Inc. (OTCQX:
CWBHF) (CSE: CWEB) is making great steps forward in
developing low-cost high-quality hemp, is also strengthening the
plant.
To view an infographic of this editorial, click here.
Growing Goodness
The CBD market has seen huge growth over the past few years,
appearing out of nowhere to become an industry worth billions of
dollars. This growth has been driven in large part by CBD’s
potential for health and well-being, a subject that many
researchers are busy exploring. Companies have leapt upon the
opportunity to offer consumers the benefits associated with
cannabis without some of the other issues regularly linked with the
drug, including getting users high.
If the past few years have been fruitful, the future looks even
brighter for CBD. Soaring sales, growing acceptance within
mainstream sports, and the recognized influence of some of the
major players within the broader cannabis industry all point to
positive movement forward for CBD. And as companies overcome the
challenges offered by distributing a previously obscure product to
a broad market, the industry looks set to soar.
A Rising Global Market
The growth of the CBD market has so far come mostly out of North
America, where the likes of health and wellness company
Wildflower
Brands Inc. (OTCQB: WLDFF) (CSE: SUN) have marketed a
wide range of CBD products. This geographical focus is thanks
mostly to questions of legality, as CBD is extracted either from
cannabis or from its nonhigh-inducing form hemp. Though
legalization of cannabis remains variable in the United States,
hemp is now legal at a national level in both the U.S. and Canada,
with cannabis growth widely permitted.
As a result, the North American cannabis market, including that
for CBD, has grown in spectacular fashion. The market was worth $9.2 billion in 2017 and is
predicted to reach $47.3 billion by 2027. It’s this market that has
proved so fruitful for the likes of Wildflower Brands.
The European CBD market has seen less expansive growth. Within
the EU, the range of
processed products that can be made incorporating cannabis is more
limited, and there’s been less of a concerted push towards
legalization for both CBD and cannabis products. Consequently,
market growth there has been less impressive.
But that may be about to change, according to
analysis from market intelligence firm the Brightfield Group.
The company recently predicted 400% growth in the European CBD
market from 2018 to 2023, a massive rise in a short five-year span.
It looks as if the CBD boom may be set to go global.
Sports and CBD
Of course, the CBD market hasn’t only been shaped by years of
cannabis prohibition; contributing factors also include society’s
acceptance of cannabis and CBD. The rules of organizations not
normally associated with cannabis can provide a hindrance to
companies such as Wildflower Brands. But as the legal market
develops, those institutions are shifting their attitudes as
well.
The world of sports is an ideal example. During the war on
drugs, many teams, leagues and professional organizations took a
firm public stance against cannabis, laying down rules that
prevented their players from indulging. The NFL, for example, has
strict rules against cannabis consumption. Currently, however,
former players are campaigning for a
change to those rules, not just to allow players access to the
same experiences as other people but to tackle issues specifically
related to sports.
Cannabis and CBD are used in a wide range of pain treatments and
products, including those such as Wildflower’s
topical treatments. Given the injuries frequently incurred in
professional sports, pain management is essential, and players seek
access to the best range of medicines. Currently the ban on
cannabis and CBD restricts players from choosing such seemingly
effective options, fueling the call for change.
Changes could also have a significant impact on the sponsorship
side. Currently, only one
professional sports team in the United States has a
cannabis-related sponsorship, despite the growing wealth and
influence of the industry. As barriers come down, the time may come
for CBD, much like other recreational and medical products, to gain
attention in the sport and beyond through sponsorship and supporter
arrangements.
The Challenge of Delivery
Of course, all this expansion comes with significant challenges.
As the market grows and evolves, CBD companies must find ways to
distribute products to a sector that didn’t exist a decade ago. The
infrastructure most other industries take for granted is being
built from scratch.
Fortunately, the companies moving into this space are willing to
adapt and move quickly to support their expansion. This involves
forging alliances with other players within the cannabis sector to
increase their combined reach. Wildflower has recently done this
through a delivery fulfillment
agreement with HelloMD, a leading digital healthcare platform
for cannabis doctors, consumers and brands. The deal will allow
Wildflower to potentially reach more customers through HelloMD’s
expansive e-commerce platform.
Such moves should increase opportunities for CBD businesses to
accelerate their expansion and reach a broader customer base,
reversing years of prohibition. These partnerships may not only
boost individual businesses but also add to the rising tide of
CBD.
Cannabis Leaders Emerge
Celebrated leaders are starting to emerge at the head of the
cannabis industry. Some have come from outside, their fame drawing
attention to the industry. Others have come from within.
A recent list of the top 100 figures in the
industry includes actor Jim Belushi, former Mexican president
Vicente Fox and retired boxer Mike Tyson. The list also includes
cannabis executives such as Terry Booth of Aurora and Elizabeth
Hogan of GCH.
Wildflower Brands CEO William MacLean was included in the list,
thanks to his hands-on approach to sales and marketing. His
extensive travels to hospitals in North America have also given him
insight into patient experience and the benefits that cannabis and
CBD can offer. Combined with years of marketing experience, this
impressive background puts MacLean in a strong position to market
his brand and build teams of skilled experts for ongoing
growth.
Cannabis Companies Reach New Highs
As the cannabis sector expands, many companies are going through
periods of growth and rising revenues. Over the past few years,
this rocketing trajectory has allowed the cannabis sector to
diversify in interesting ways.
One of those is the growing interest in organic and sustainably
grown cannabis, which aligns with the existing market for organic
fruit and vegetables. Green Organic Dutchman (OTCQX: TGODF)
(TSX: TGOD) has seen success moving into this niche and is
now growing to meet the massive demand. The company is building two
new facilities to expand its production base, with growing capacity set to increase from 156,000kg to
202,500kg. Green Organic Dutchman is also looking at the wider
global market, with an investment in
Jamaican cannabis.
One of the largest cannabis companies in Canada, Aurora
Cannabis Inc. (NYSE: ACB) (TSX: ACB) has benefited from
that country’s liberal approach to the issue. Early and widespread
legalization have given Canadian cannabis companies an opportunity
to expand in both the recreational and the medical markets. Aurora
is one of the highest trading cannabis stocks on the NYSE and is
going from strength to strength. The company’s acquisition of 51% interest in a Portuguese cannabis
company has positioned the Aurora for expansion in Europe as
that market starts to mature.
Like many cannabis companies, HEXO Corp. (NYSE American:
HEXO) (TSX: HEXO) started out as a medical provider but
has shifted to include the recreational market in its work.
As the first cannabis producer to join Food &
Consumer Products of Canada (FCPC), the company is offering
cannabis products as part of its wider range of consumables,
reducing the stigma and barriers to entry. Such bold moves have led
to a 1,269% increase in
gross revenue, a performance made possible by a combination of
strong leadership and market growth.
Some companies are focused only on CBD, such as
Charlotte’s Web Holdings Inc. (OTCQX: CWBHF) (CSE:
CWEB). The company’s work in producing high-quality,
low-cost hemp through proprietary genetics earned its vice
president of cultivation Jared Stanley a place in the cannabis top
100. The science of cannabis cultivation is still in its infancy,
but it’s moving fast, and by improving knowledge and techniques,
pioneers such as Stanley are laying the groundwork for future
growth.
With scientific and business innovation being led by a raft of
far-sighted and innovative pioneers, the cannabis and CBD
industries look set for another decade of incredible growth.
For more information on Wildflower Brands, visit Wildflower
Brands Inc. (CSE: SUN) (OTCQB: WLDFF)
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