- HempFusion Wellness, Inc. is developing nutritional products (currently 46 on retail store shelves) that promote overall health and wellness in a variety of ways including skin care, pain relief and gut support
- The company’s products are distributed to about 4,000 retailers in all 50 states as well as some international outlets, including major food and drug retailers and big box stores mostly not available to other CBD companies
- HempFusion has filed a preliminary prospectus for a planned initial public offering (“IPO”) on Canada’s most senior stock exchange, the TSX
- Market watchers expect the CBD industry to expand to $12.4 billion by 2023 and current trends point to the expansion of subsectors such as the infused beverage industry, which is expected to reach $2.8 billion by 2025
It’s easy to sympathize with players in the hemp / CBD market who felt a sense of whiplash in 2020 as a once-hot sector suddenly found itself facing a wolf at the exchange door. A booming supply of hemp from farmers looking for a sudden new cash crop after the 2018 farm bill legalized hemp cultivation as an agricultural product led to an extreme oversupply (https://cnw.fm/tzHLc), followed by a drop in demand as the global COVID pandemic led many wellness product fans to turn away from CBD in favor of specialized immunity-enhancing supplements (https://cnw.fm/dSRTA).
Even so, analysts continue to anticipate a market resurgence as the supply and demand actors figure out how to balance product delivery. The (thus-far-contested) victory of President-elect Joe Biden also is expected to open a new wave of optimism, given Biden’s plans to decriminalize marijuana, a sibling to hemp, in contrast to the current president’s policies, as well as the decisions by five states to newly legalize recreational marijuana use and/or medical marijuana (https://cnw.fm/C7ENw).
Researchers at market analysis firm Brightfield Group cut their estimates for CBD (cannabidiol) almost in half from $23 billion in 2023 to $12.4 billion, but that still amounts to a healthy-sized product pipeline, and Brightfield sees the market continuing to grow to $16.8 billion by 2025 (https://cnw.fm/UAhLy). Grand View Research analysts predict the CBD-infused beverage subsector could expand to $2.8 billion by 2025 (https://cnw.fm/ZTo9Q), and New York may be leading the charge with efforts to refine its regulations to permit such beverages (https://cnw.fm/JKzwS).
Expectations for a hemp market revival underlie the optimism of Denver-based HempFusion Wellness, which has developed 46 CBD products that are currently on retail shelves and is now pursuing a proposed initial public offering of common shares and a listing on the Toronto Stock Exchange, which makes the private company the first U.S.-based cannabidiol (“CBD”) business to apply to list on the TSX senior board (https://cnw.fm/BuIJi).
CBD has gained an exponential growth in users during recent years despite disagreements over its legal status. In 2018, about $620 million in CBD products were sold to consumers. In 2019, before the pandemic struck world economies, CBD sales jumped 706 percent (year-over-year) to $5 billion (https://cnw.fm/ciTBX). Likewise, product sales for pet-friendly CBD rose from $8 million in 2017 to $32 million in 2018, marking a 300 percent expansion.
HempFusion’s investment in meeting regulatory standards while the market has been in its infancy has opened doors to outlets in major food and drug retailers and big box stores that are not available to other CBD companies, as well as through physician pipelines.
The company’s leading offerings include HempFusion-owned Biome Labs, HF Labs and Probulin. Its line of topical products includes creams and balms that specifically target acne, anti-aging, sports pain relief, eczema relief and wound care, and Probulin Probiotics is considered to be one of the fastest growing probiotics brands in the United States, according to SPINs reported data (https://cnw.fm/CgVRq).
HempFusion products are distributed to about 4,000 retailers in all 50 states, and to some international outlets as well.
For more information, visit the company’s website at www.HempFusion.com/Corporate-Information.
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at https://cnw.fm/HempFusion
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