POINT ROBERTS, Wash. and DELTA, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks, releases a snapshot focused on the CBD edibles market and how, specifically, CBD gummies are in high demand.
Building on that, Transparency Market Research expects the global market for gummy vitamins to rise at a steady CAGR of 5.2% during the period between 2017 and 2025. Expanding at this rate, the market will likely become worth US$4.17 bn by 2025 from US$2.68 bn in 2016.
Last November, Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) started selling CBD-dominant softgels through its Tweed brand, containing 20 milligrams of CBD, and between 2.5 or 10 milligrams of THC. The company also recently gave an update on its hemp operations as it prepares for US market entry thanks to this transformative piece of federal legislation, one that enables expanded pathways to the American market for hemp-based products, including CBD products.
In the news, Bruce Linton, Chairman and Co-CEO, joked, “I like to say that we have, on the market right now, the Canadian version of the Gummy Bear. But seriously, this is the first legal ingestible that is available in Canada, and we want to see what kind of outcome that product will get because people are basically ingesting it.”
International Spirits and Beverage Group Inc. (OTC:ISBG), a brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, is jumping into the sector as they announced the official launch of live sales of its inaugural CBD product, P19 CBD Gummies. The Company is eager to get sales rolling in, so it is launching through an initial temporary site dedicated to this one product: www.buyp19.com. The Company’s initial product, P19, will feature 10 x 25mg of nano-infused pure CBD, providing superior bioavailability.
ISBG CEO, Terry Williams stated, “It has been a long road to get to this point, and we have had to overcome a number of difficult obstacles. But we are finally ready to flip the switch and start to monetize our investment. Given the establishment of our key partnerships, the development of our ecommerce platform, and our plan to include Amazon and Google as avenues of distribution, we feel very confident about selling through our first purchase order of $115K, and we expect to see more such orders in coming weeks. This initial website will soon be replaced with a more robust site, eventually featuring a complete product line-up.”
More and more companies are looking to get into the US and Canadian CBD space such as INVICTUS MD STRATEGIES CORP. (TSXV: GENE) (OTCQX: IVITF), who recently provided an update on its binding letter of intent to create a joint venture with CannAmerica Brands Corp. and CBDistribution Company Ltd. that was previously announced on January 7, 2019 with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction.
"This acquisition represents the next step forward in our partnership with CannAmerica and CBDC as we progress toward extracting CBD isolate for the United States market," said George E. Kveton, President and CEO of Invictus.
Stepping into this growing market, CV Sciences, Inc. (OTC:CVSI) launched a hemp-derived cannabidiol (CBD) gummy product from its PlusCBD Oil brand back in September at Natural Product Expo East 2018 and recently announced its certification by the US Hemp Authority™ Certification Program.
Established in 2018, the US Hemp Authority™ Certified program was developed by the US Hemp Roundtable, and is designed specifically to educate hemp farmers and hemp finished product producers in FDA Current Good Manufacturing Practices (cGMP) and Good Agricultural Practices (GAP) to ensure that consistent quality is achieved. The U.S. Hemp Authority™ Certification Program is administered by experienced quality assurance and verification professionals from industry-leading food and agricultural companies.
CBD Gummies are a product in high demand and whether big like Canopy Growth, or small like ISBG, the ones who are able to get their brand to market first will have the advantage as companies like Google and Amazon get involved in online sales.
For investors following cannabis stocks, investorideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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