Consumer Demand: More than 14% of Americans Now Use CBD
Houston, Texas--(Newsfile Corp. - August 9, 2019) - MarijuanaStox announces publication of an article that discusses The Yield Growth Corporation (CSE: BOSS) (OTCQB: BOSQF). The company has been aggressively addressing demand for health, wellness, and beauty products infused with premium-cannabis and hemp-based products on an international scale with subsidiary, Urban Juve.
A $23.7 Billion Market Opportunity in the Making
Global demand for CBD-rich consumer products has been increasing at a rapid pace.
At the moment, one in seven Americans say they personally use cannabidiol-based products, says a recent Gallup poll, which has only proliferated since the passage of the U.S. Farm Bill. "Younger Americans and those in the Western U.S. are most likely to report using these products, which are widely touted for their therapeutic benefits without any psychoactive effects because they contain a low level of THC," noted the report.
However, those numbers are likely to increase as more CBD makes its way on to shelves.
In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023, as CBD finds its way into a variety of consumer product categories including food and beverage, pharmaceuticals, cosmetics, and health and wellness.
Already, retailers, such as CVS, Walgreens, Sephora, American Eagle, Vitamin Shoppe, and Kroger are rushing to put CBD products on their shelves, given sizable consumer demand. Simon Property Group partnered with Green Growth Brands to open 108 stores in its malls.
Cannabis company, Cronos Group Inc. even just announced that it has entered into a definitive agreement to acquire four of Redwood Holding Group, which markets and distributes hemp-derived cannabidiol (CBD) infused skincare and other consumer products online and through retail and hospitality partner channels in the United States under the brand, Lord Jones.
However, that's just a small part of a much bigger picture.
Food and Beverage Companies are Seeing Big Demand
As consumer demand for wellness products infused with CBD just begins to increase, beverage and food companies are just beginning to jump on board, too. For example, Tilray Inc. just acquired Smith & Sinclair to create a line of edibles to distribute throughout North America.
Jones Soda is on board, too after Heavenly Rx - a hemp portfolio company of cannabis investment firm, SOL Global Investments - invested $9 million in the company. That investment now brings SOL Investments' stake to 25%.
Privately held Arizona Beverage just announced that it reached a licensing deal with Dixie Brands, which makes and sells drinks, chocolates, gummies and topical creams that are laced with cannabis. Through the partnership, Dixie, which operates in six U.S. states, will manufacture and distribute products branded with Arizona's name.
With consumers clamoring for CBD products, the boom is truly here to stay.
The Yield Growth Corporation will be a Major Beneficiary
It's been quite a year for The Yield Growth Corporation.
The company now has 130 retail locations across North America that carry Urban Juve products. The company signed an agreement with Melorganics, which will act as the exclusive retail distributor and non-exclusive e-commerce distributor for Urban Juve products in Greece and Cyprus. In addition, Yield Growth signed a consumer marketing and sales alliance with ipsy, one of the world's largest beauty subscription communities. Urban Juve products will be found in the company's Glam Bag and are already available online on ipsy Shopper.
Better, the company just announced its plans to target the growing luxury spa market with a new CBD-infused Urban Juve Spa Treatment line. High-end, reputable spas are increasingly embracing cannabis-infused products for treatments, and Yield Growth plans to meet this growing demand head-on with its Ayurveda-inspired CBD line.
Yield Growth also welcomed new Chief Operating Officer, Tamara Melck, who was most recently Aritzia's Vice President, Corporate Operations and Executive Vice President, People & Culture. Melck has a proven track record for scaling businesses, and will provide invaluable expertise as Yield Growth continues to expand. In addition, the company added Jeff Smith as Chairman of the Advisory Board.
For more information, visit the company's website at https://yieldgrowth.com
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