Strong Demand for CBD Edibles to Create a $4.1 Billion Market by 2022

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Jul 24, 2019, 09:27 ET

PALM BEACH, Florida, July 24, 2019 /PRNewswire/ -- The CBD story has been on the of the most explosive to date for investors. In fact, multi-billion-dollar industries are just now being transformed by CBD, including alcohol, health and wellness, cigarettes, and the retail industry. It's impacting a range of food, too. Everything from gummy bears and cookies to candy and brownies are being infused with CBD with considerable consumer demand. Interesting to note, consumer spending on cannabis-based food and drink reached $1 billion in 2017 just in the U.S. in Canada. By 2022, that could be up to $4.1 billion, according to analysts at Arcview Market Research. That's opening a wide range of opportunity for companies including Naturally Splendid Enterprises Ltd. (OTCQB:NSPDF) (TSX-V:NSP), Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB), The Green Organic Dutchman Holdings Ltd. (OTCQX:TGODF) (TSX:TGOD), Curaleaf Holdings Inc. (OTCQX:CURLF) (CSE:CURA), and Green Thumb Industries Inc. (OTCQX:GTBIF) (CSE:GTII).

Naturally Splendid Enterprises Ltd. (OTCQB:NSPDF) (TSX-V:NSP) BREAKING NEWS: Naturally Splendid Enterprises Ltd. just announced unaudited gross sales in the second quarter of 2019 nearly doubled compared to the same period last year. Naturally Splendid has recorded approximately $1,000,000 CDN in gross sales during the second quarter (Q2) of 2019, which spans the period from April 1, 2019 to June 30, 2019. The Company previously reported gross sales of $483,675 CDN in the second quarter (Q2) of 2018, which spanned the period from April 1, 2018 to June30, 2018. Accumulative gross sales for Q1 and Q2 of 2019 are approximately $1,715,000 CDN almost equaling the gross sales for the entire year in 2018. In comparison, the Company recorded audited gross annual sales of $2,073,776 CDN in 2018 and audited gross sales of $1,550,469 CDN in 2017. Currently the Company is on pace to surpass 2018 total gross sales early in the third quarter of this year.

Naturally Splendid is experiencing growth in gross sales in many of its divisions. The core concept of duo revenue streams emanating from producing and distributing Company branded products, as well as offering Contract Manufacturing Services has provided a foundation to leverage these assets and drive sustainable shareholder value. Sales of the Company's recently launched Natera Sport KEY-TO-LIFE keto bars continue increase as distribution points for this product expand throughout Canada including Whole Foods, Sobeys's, Loblaws, Longo's, Metro, Save-On- Foods, Nature's Fare and No Frills, as well as many more retailers across the country in just the first three (3) months of the official launch date.

"The significant time and strategically deployed capital allotted to the continued advancement of Naturally Splendid's manufacturing facilities has positioned the Company as both a premier manufacturer of healthy food products, but has also establish Naturally Splendid as an early mover in the evolving cannabis edibles market," says Naturally Splendid President Craig Goodwin. "We are definitely pleased with the increase in our gross sales throughout our divisions. More importantly, we believe the Company is reaching the stage of being cash flow positive on a more consistent basis. This is due in fact to not only the increased gross sales, but also increasing margins as scales of economy begin to show a positive effect on our bottom line. As the Company approaches being cash flow positive, we can begin to focus more attention and resources towards the lucrative omega markets globally and focus attention on the positively evolving cannabinoid opportunities, specifically focusing on the Cannabidiol (CBD) markets." For more information on NSP, please visit: https://www.naturallysplendid.com/

Other cannabis-related developments from around the markets include:

Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB) just unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."

The Green Organic Dutchman Holdings Ltd. (OTCQX:TGODF) (TSX:TGOD)just announced its expansion into the global organic hemp CBD market with the launch of its Global Strategic Hemp Division. This new division will leverage TGOD's solid expertise in the European hemp CBD market to fuel growth and accelerate the development and commercialization of new products across its network of international partners. "With the global CBD market expected to hit $22 billion in less than 3 years, it is clear that the segment is drawing substantial consumer demand," commented Brian Athaide, CEO of TGOD. "Our team has years of direct hands-on experience in the CBD space and we are excited to use this advantage to execute on a fast-moving market expansion strategy. CBD is a wellness product and has a natural fit with TGOD's certified organic positioning and the large segment of consumers who are increasingly demanding natural and organic products. The time to act is now, and TGOD has the team, the infrastructure and the capital to establish a significant presence in this market."

Curaleaf Holdings Inc. (OTCQX:CURLF) (CSE:CURA) just issued the following statement in response to a letter from the U.S. Food and Drug Administration regarding its CBD product marketing. Curaleaf is committed to the highest standards of quality and compliance, and will work collaboratively with the FDA to resolve all issues addressed in the agency's letter. The Company will respond to the FDA letter within the required 15 working days. Compliance is a top priority for Curaleaf and the Company is fully committed to complying with FDA requirements for all of the products that it markets. We can affirm that nothing in the letter raises any issues concerning the quality and consistency of any Curaleaf product or calls into question the high safety standards of the Company's cultivation and manufacturing processes. Curaleaf CBD products are all derived from hemp and meet the requirements of the Farm Bill.

Green Thumb Industries Inc. (OTCQX:GTBIF) (CN:GTII), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community's first cannabis store, on July 9, 2019. This is GTI's 26^th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI's branded cannabis products including Rhythm and The Feel Collection. "We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness," said GTI Founder and Chief Executive Officer Ben Kovler. "Our Rise stores provide exceptional customer care and we're thrilled to serve the people of Oviedo and surrounding communities."

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