The CBD gummies market is setting up for explosive growth. In fact, between 2020 and 2027, analysts at Market Research Future believe the market could grow at a CAGR of 12%. All thanks to growing acceptance of cannabis and related products. “The growing popularity of CBD-containing products for medicinal and recreational purposes has led to the growth of the market in little more than a few years. Research from around the US has found that CBD can help with anxiety, pain, depression, and inflammation. CBD (cannabidiol) gummies are non-psychoactive, non-addictive, and non-intoxicating,” they note. That could be a substantial catalyst for companies such as Pure Extracts Technologies Corp. (CSE:PULL) (OTC:PRXTF) (XFRA:A2QJAJ), Aleafia Health Inc. (TSX:AH)(OTC:ALEAF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTC:CWBHF). In addition, they added that, “The legalization of industrial hemp for medicinal and recreational purposes across various states in the US will create new opportunities for investors in the CBD infused products market.”
Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ) announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has developed and is in production of innovative, high potency CBD edible gummies for the Canadian market.
Added Mr. Nikolaevsky, “With the combination of the enhanced product stability from our proprietary manufacturing and packaging machine and our high-quality cannabis extracts, we have created the type of exceptional gummie products that consumers now demand.”
These products will be sold under the Pure Chews line of branded products and will feature 50 mg, 75 mg and 100 mg CBD potencies. Demand for these types of products is strong in the adult recreational and medical segments that the Company is launching its cannabis products in. All 3 SKUs of this Pure Chews product are available in a Blue Raspberry flavour and utilize a proprietary manufacturing system licensed from US based Taste-T, the manufacturer of the world-famous Fireball Cinnamon and Margarita Chill products, to produce and package branded cannabis gummies that come in unique blister packaging.
Other related developments from around the markets include:
Aleafia Health Inc. just announced that dried flower grown at its Niagara greenhouse facility has been successfully exported to Germany. Gaining access to Europe’s most mature legal cannabis market is an important breakthrough for Aleafia Health, with fulfilment of successive purchase orders to Germany currently underway. Germany represents the second major medical cannabis market to which the Company has successfully completed exports. Import and export permits have been secured for two additional orders to Australia, with the shipments expected to occur in June.
Canopy Growth Corporation, a world-leading diversified cannabis, CBD and vaporization device company announced the appointment of Martha Stewart as the company’s official strategic advisor. In this new role, Martha will expand upon her existing relationship with the company, leveraging her vast knowledge of product development and branding expertise, to provide the company with dedicated counsel ranging from product innovation to format development and strategic partnerships.
Tilray Inc., a leading global cannabis-lifestyle and consumer packaged goods company, announced the launch of Symbios, a complement to the Company’s existing medical brand portfolio in Canada. This new brand was developed to provide a broader spectrum of formats and unique cannabinoid ratios at a better price point while offering medical patients a full comprehensive assortment of products, including flower, oils, and pre-rolls for their health and wellness regiment. Irwin D. Simon, Tilray’s Chief Executive Officer, said, “Medical cannabis innovation and patient care are core to the new Tilray’s business and global growth strategy. As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray — while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing.”
Charlotte’s Web Holdings Inc., the market leader in hemp CBD wellness products and a Certified B Corporation, announced the collaboration of its CW Labs division on a preclinical sleep and anxiety study with the University of Colorado-Boulder’s REACH (Research and Education Addressing Cannabis and Health) Center. The scientific investigation uses the Company’s full spectrum hemp formulations with CBN and CBD and levels of THC below 0.3% to examine the impact on anxiety and sleep quality. The Company is the only hemp CBD brand supporting the University of Colorado REACH Center’s milestone study.
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