(MENAFN - Baystreet.ca) New cannabis-infused products continue tohit shelves in major markets across North America, and into Europe. This hasled to major competition among products on store shelves coming from brandingand packaging innovators such as The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF),Green Growth Brands (CSE:GGB) (OTC:GGBXF), Curaleaf Holdings,Inc. (CSE:CURA) (OTC:CURLF), Green Thumb Industries Inc. (CSE:GTII) (OTC:GTBIF), and 1933 Industries Inc. (CSE:TGIF) (OTC:TGIFF).
Much of this new cannabis wave is derivedfrom an increase in availability of cannabis products, gaining approval inmajor markets.
One such market is Oregon, whereStatistaprojects to be worth nearly $1 billion by2022. Recently, The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF) received finalpackaging approval from the Oregon Liquor Control Commission (OLCC) for 6Wright & Well cannabis topicals and tinctures to be distributed in the Pacific Northwest state.
The initial 6 approved Wright & Wellproducts are Be Chill Tincture (THC: Purple Hindu Kush, CBD: hemp source); BeBetter CBD Tincture (CBD: hemp source); Be Better CBD Extra Strength Tincture(CBD: hemp source); Be Relieved Pain Gel (THC: Purple Hindu Kush, CBD: hempsource); Be Free Pain Balm (THC: Purple Hindu Kush, CBD: hemp source); and BeLoved Massage Oil (THC: Purple Hindu Kush, CBD: hemp source)
"The OLCC packaging approval is one of themost rigorous processes to complete before products can be legally manufacturedand sold in Oregon," said Penny Green, CEO of Yield Growth. "Now that we havesuccessfully completed the process, we have cleared the final hurdle, and weexpect manufacturing to be complete in early July, and sales to begin in late-July."
The products will be distributed in Oregon byNova Paths, an Oregon-based cannabis licensed distributor that has establishedrelationships with over 400 licensed cannabis retail stores. Targeted towardswellness-minded consumers, the products incorporate the highest quality CBD,THC, hemp root oil and terpenes to support a healthy lifestyle.
The approval came on the heels of thecompany'sprevious announcementof a lineof cannabidiol (CBD) W & W products in California.
YieldGrowth has seized upon the global CBD market as a huge opportunity. Anew studyfrom BDS Analytics and Arcview Market Researchprojected thissegment of the cannabis market alone could be worth $20 billion by 2024. Thisfigure is a significant jump from estimated retail sales of CBD products in2018, which ranged from $600 million to $2 billion.
Inorder to gain attention from new customers as this market continues to open up,targeted branding like that of Wright & Well products is needed. As giantmainstream retail chains such as CVS Health, Kroger, and Walgreens work towardscarrying more cannabis-infused products on their shelves, it's innovation fromthe products' manufacturers that will likely be seen as being increasinglyimportant through this cannabis revolution.
STRATEGICROLLOUTS OF NEW PRODUCTS
Getting products noticed requirescreativity, and taking advantage of every potential platform. Capitalizing on amonthly subscriber base of over 3 million, The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF) tapped beauty communityipsy , for its Urban Juve line of CBD-infusedbeauty products.
Urban Juve's hemp root oil products becameavailable for purchase on Shopper, ipsy's ecommerce marketplace and will befeatured in ipsy's new product showcase, Glam Bag.
Urban Juve's distribution goes far beyondipsy, as it recently was announced for distribution of products in Greece andCyprus. Overall the line has signed over 110 retail locations to sell itsproducts in North America, and is now available through e-commerce sales inChina, the US, Japan, South Korea and Germany.
The Urban Juve line of products continuesto grow, with the latest announcement of its new line of CBD-infused skin careproducts, dubbed Urban Juve CBD Skin Essentials. The full-spectrum CBD productsis expected to officially launch in the fall, using Urban Juve's proprietaryhemp root oil to maximize skin renewal. Urban Juve Skin Essentials will launch with two initial products:CBD Face Oil, CBD Facial Serum.
"Healthy,vibrant, glowing skin is the result of making right skin care choices," saidBhavna Solecki, Director of Product Development at Urban Juve in the company'saccompanying press release. "Quality ingredients, thoughtfully formulated,ensure that your skin is nourished, supple and protected from environmentalpollutants."
Thenew Urban Juve CBD products are formulated with the rarest, cleanest, mostethical and most expensive oils in the marketplace-and with the added benefitof organic, full-spectrum CBD distillate and Urban Juve's proprietary hemp rootoil-the new products are unlike anything else on the market.
"Weare seeing an incredible demand for CBD skin care products in the marketplace-froma wide range of customers. We're poised to make significant inroads in thisspace because we had the foresight to formulate CBD-compatible products fromthe beginning. Currently, we are working on a catalogue of more than 200formulations," said Sandi Lesueur, President of Urban Juve. "We alsohave the right team in place. We have experience achieving massive growth forinternational cosmetics companies, so we are well-positioned to be a majorforce in the CBD skin care market."
FURTHER CBD PERSONAL CARE DEVELOPMENTS
Green Growth Brands (CSE:GGB) (OTC:GGBXF)
Earlier in June, Green Growth Brandsboasted it had surpassed the opening of 50 CBD shops in just four months. Underits Seventh Sense brand, GGB began opening these retail locations back inmid-February. The rapid roll out continued, as the company still projects toopen more than 200 such shops by the end of 2019. Within these shops, SeventhSense products consist of over 100 SKUs across bath, body, face, therapeutic,and sleep categories.
Curaleaf Holdings, Inc. (CSE:CURA)(OTC:CURLF)
With a supply deal with major US pharmacychain CVS Health, Curaleaf has access to one of the most prominent retailshelves in the country. The deal is set to see Curaleaf's hemp products sold in800 stores in 10 states. Should that relationship expand, CVS has more than9,800 sotres in the United States. In an effort to help with the development ofnew products of the future, Curaleaf has also agreed to sponsor the Universityof Connecticut for industrial hemp research.
Green Thumb Industries Inc.(CSE:GTII) (OTC:GTBIF)
GreenThumb products are not only being featured in third-party dispensaries andstores (including the luxury retail High End store from Barneys New York), butin the company's retail chain, Rise. Green Thumb recently announced the openingof its fifth Rise retail location in Pennsylvania, dubbed Rise Latrobe. AmongGreen Thumb's portfolio of assets, is the recently acquired Beboe brandedproducts, out of California, which are available in more than 125 retaillocations in California and Colorado.
1933 Industries Inc. (CSE:TGIF)(OTC:TGIFF)
Canadian cannabis company 1933 Industries iswitnessing successes in its US distribution strategy. As of mid-June, thecompany's premium Canna Hemp brand of CBD wellness products is available inmore than 800 retail outlets across 46 US states. This includes more than 200mainstream outlets carrying the brand, which consists of a portfolio offeringover 70 high-quality, hemp-based, CBD-infused products with a range of specificeffects.
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