CBD Business is Booming: Surprising Stats and Facts
Sales of CBD (Cannabidiol) are booming and the marketplace for everything from edibles to oils is exploding globally. While there are varying opinions on whether it works better when joined with other cannabinoids, its potential for positive effects and benefits on people and their pets are behind the growing success of these products. According to experts in the CBD industry, recent statistics share:
● Sales of CBD are slated to reach an estimated $1.8 billion by 2020.
● Colorado is the state with the highest cannabis revenues with over $1 billion in sales.
● Currently, there are over 850 brands of CBD products available in the US market.
● User demographics reveal 40% of people are interested in trying CBD.
● Those working in the cannabis industry earn more than the average American.
● The demand for employees has risen by 76% in one year.
For those in the business, women are founders or general managers of over 75% of CBD brands and the majority of direct sales come from these female providers. There are also a growing number of businesses and industries climbing on board this rapidly growing marketplace including those who are proposing new products.
KALY Going Over and Behind the Counter
KALY (dba Kali Extracts, Inc.) recently revealed in a press release that their company is actively pursuing the development of OTC (Over-The-Counter) and prescription CBD treatments. The company has its own US Patented Cannabis Extraction Process aimed at treating a variety of specific health issues. KALY is so confident in the success of this strategy they are anticipating a jump in revenue even after investing $15 million in hemp growing and extraction operations.
Pivot Pharma with Similar Plans
Whether it was planned or merely a coincidence, on the same day KALY revealed their plans to enter into biopharmaceutical developments, Pivot Pharma announced similar intentions. In their press release that was also dated October 8, 2019, Pivot divulged they would be partnering with F&B Cosmetics to manufacture a portfolio of CBD based wellness products in the United States. Although Pivot Pharma is primarily based in Canada, F&B Cosmetics will be hosting their new partner from its 125,000 sq. ft. state-of-the-art facility in Tennessee.
Sports Poised for Success
Integrated CBD LLC in Scottsdale, Arizona was able to secure $50 million in financing to expand its ability to provide more products for customers. Plans include a 10,000-acre hemp farm near Yuma, building a large drying and extraction facility in Phoenix. In light of the previously cited statistics, it would seem lenders are also confident in the growth and potential rewards of the CBD industry with the sports marketplace likely to follow suit.
Since CBD isn’t a performance-enhancing drug, athletes are able to use these products for pain relief without risking possible side effects associated with other drugs or failing a test. Those in the financial sector are predicting at least “3 Pot Stocks Poised to Benefit from the CBD Sports Market” including:
- Canopy Growth (CGC)
- Aurora Cannabis (ACB)
- Abacus Health Products (ABAHF)
In all three of these cases, while CBD is completely legal in the US with certain FDA restrictions, it remains illegal at the Federal level. These businesses are all located in Canada and are trading on the American stock exchange.
PURA Brings Coffee from Kenya
PURA (Puration, Inc.) is already the leading CBD sports drink provider in their respective market with $1 million in beverage sales during the first six months of 2019 after selling the same amount in all of 2018. In their October 11, 2019 press release, PURA announced their plans to begin producing CBD infused Fair Trade coffee from Kenya. Previously PURA launched an initiative to partner with other beverage companies to produce CBD infused beer, other brands of coffee and tea in a variety of new products.
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