The CBD cannabidiol market is one of the most dynamic in the world right now as US legislation eased and other countries are rushing to align their health industries to the opportunity. Driven by consumer demand and a large variety of chronic illnesses people seek to treat with CBD (cannabinoids), it is a booming market nowhere near maturity.
Consumers track CBD news to keep track of the best brands and products, whereas analysts and investors watch it closely for investment opportunities in fast-moving companies. Here is the latest:
Kushly.com takes anti-ageing CBD cream to American retailers:
The famous CBD brand Kushly.com is now selling anti-ageing cream made of apple stems, which contains CBD. The company, founded by CEO Cody Alt, is already well-known for taking flavoured CBD oil tinctures to American stores, providing consumers with a starkly different choice to standard flavoured products which apparently does not have the greatest taste by default. By bringing mint, vanilla and cinnamon flavoured CBD oil to the market as a wholesale supplier to stores, it quickly changed how consumers perceive the product, leading to more recurring consumption. Consumers can also buy products directly from Kushly.com which was previously referred to as “The Amazon PRIME of CBD”.
Amazon and Ebay storefronts are filling up rapidly with CBD:
Analysts are seeing Amazon and Ebay storefronts filling up rapidly with more CBD products as more new brands launch and more consumers develop the confidence needed to try out CBD products. The industry is at a critical junction right now as possible supply squeezes may be supplemented by cheaper products that are produced in countries where non-GMO certified CBD is not a priority, where industrial soil contamination is a concern. The huge variance in price that can be seen on storefronts is not only due to difference in quality, but also in the strength of the product. For example CBD tinctures range from 30MG to 5000MG in strength – with the latter easily costing as much as $300 for a small container.
Consumer survey on CBD:
Given how new this phenomenon is, with so little research results out on CBD, there is great curiosity about the effectiveness of it and public opinion. According to a recent Consumer Reports survey, “more than a quarter of people in the U.S. say they’ve tried CBD,” and “One out of 7 of those people said they use it every day.”
FDA commissioner statement on CBD risk:
The FDA is not a medical board, still it treads a fine line in feeling the moral obligation towards consumers. It will soon face industry pressure to act against contaminated CBD imports from Asia as US consumers should rightly be protected against non-certified products. When asked by the press about the minimum benchmark US consumers should settle for, Sam Conley, the COO of the prominent wholesaler Kushly said the following: We produce the highest quality CBD products produced from fully audited, FDA and US Hemp Authority certified farms, exceeding FSMA, standards.
However some retailers might be importing cheaper products where the above quality requirements are not met. This is a concern given the large portion of US consumers who are now taking CBD. Due to the wide range of health conditions treated by CBD, it is now estimated that as much as 6% of the US population consumes CBD. The FDA commissioner released a statement which, among other things, referred to potential risks: “…These are serious risks that can be managed when the product is taken under medical supervision in accordance with the FDA-approved labeling for the product, but it is less clear how this risk might be managed in a setting where this drug substance is used far more widely, without medical supervision and not in accordance with FDA-approved labeling,” Gottlieb said. “There are also unresolved questions regarding the cumulative exposure to CBD if people access it across a broad range of consumer products, as well as questions regarding the intended functionality of CBD in such products.”
ZERO THC becoming more popular:
Low THC is not enough for some consumers, as many brands now sell ZERO THC. Whereas alternative practitioners may argue that THC (the psychoactive component) may actually required to manage serious conditions, those who seek to pass drug tests are absolutely determined not to purchase products with traces of THC. This is an evolving issue as regulators are still struggling to co-ordinate their approach to integrated rules.Federal law signed by the president legalized hemp and therefore CBD – but certain individual states are still slow at aligning themselves with the spirit of the law.
Sheetz selling CBD in physical stores across Pennsylvania
Sheetz, the convenience chain with more than 279 stores will start selling CBD cannabidiol products. It will sell a range of products ranging from CBD isolate, to vape pens, full-spectrum tinctures, capsules and CBD-infused pet products.
Hempworx / MyDailyChoice:
The CBD company Hempworx has a new COO: Kathleen Earle. Online research suggests that HEMPWORX is currently the most popular CBD product available on shelves, albeit that they do not provide the largest product range.
This company now sells THC-Free products: That is, CBD with zero THC. It is known that a close competitor in their category also sells ZERO THC products. Under the leadership of Chase Terwillinger, the team at BHB, the parent company, has grown from four employees to 50+, increased product SKUs from one to over 800, and reported consolidated third-quarter revenue of $16.4 million, a 763% growth YoY.
The company Bluebird botanicals is seen to be selling more and more CBD isolate powder via internet, across multiple ecommerce sites. Previously, CBD isolate was mainly popular with manufacturers of CBD products – whereas now, it is taking off to become a consumer trend.
Elixinol and CBD research:
CBD research authorization has been granted to Elixinol in New York. The state is actually rather PRO CBD. It is already known that the state of NY, in 2017 established a $5 million industrial hemp processing grant program for qualified projects related to hemp production.
Exceeding 6000 searches per month for this specific CBD brand, the company has been tipped to have a major representation within the CBD market: possibly as much as 10% of CBD retail. The number of new CBD brands, however, that are entering the market via white-label, represent a challenge to established brands and the market is heading for fragmentation.