Across the US, major retailers are making space on their shelves for CBD products. With the high demand for such products, retailers from Neiman Marcus to Walgreens are carrying products from Green Growth Brands, Charlotte’s Web Holdings, CannTrust Holdings, OrganiGram Holdings, and Hexo Corp. These partnerships are key for the growth of the industry as the CBD industry moves into the beauty and personal care industry. Due to GGB, products will move into almost 500 American Eagle stores, for example. The industry as a whole is expected to grow between $16 and $20 billion in sales by 2025. The revolution of CBD in beauty products, however, could drastically increase this projection.
Well-known retailer Abercrombie & Fitch expanded its partnership with GGB as well launching Seventh Sense Botanical Therapy in more than 160 of its stores. After a trial in 10 stores, the sales of body lotions, muscle balms, lip balms, and sugar scrubs proved to beneficial for both partners. Along with other partnerships, GGB has also launched its own Seventh Sense stores and kiosks across the US with 50 opened by June of this year. They expect to have another 20 opened by the end of 2019. The partnerships that it has made with malls will ensure that it meets this target. This potential is being targeted by other CBD innovators including Charlotte’s Web Holdings with CBD capsules, topicals, and gels in more than 3,000 retail locations across the country.
CannTrust Holdings expanded its CBD product lines with high-dose CBD oil capsules and low-dose and high-dose versions of CBD drops. They continue to develop CBD beverages, pet-care products, and confectionaries as well. OrganiGram Holdings in Canada is developing a nano-emulsion technique to allow CBD to dissolve into water which doesn’t occur on its own. They have turned CBD into a dissolvable powder making it more shelf stable, thermally stable, water compatible, and palatable. It is focused on the European market teaming with Alpha-cannabis and Eviana. Hexo Corp. has also been developing beverages with its Molson Coors partnership. They are gearing up for beverages that could be sold in the refrigerated aisle of grocery stores. Additionally, Hexo is looking to expand into eight states in 2020.
The CBD industry shows great promise with high demand, retail partnerships and expansion into the beauty industry. Companies such as Green Growth Brands appear to be well positioned to profit from this growth and we are sure to see more companies doing the same.