CBD industry observes growth as manufacturers push for diversity in products
Companies are now pushing for more diversification in their products as the CBD industry observes growth that can keep the sector alive for a long time.
Hemp cannabidiol (CBD) oil is a prized product in its purest form, and as the market for legal marijuana takes the world by storm, more and more manufacturers now diversify their CBD products to meet the steadily growing demand.
And unsurprisingly so. After all, hemp-derived CBD is included in most products nowadays, including edibles and even treats for pets. Where it’s legal to do so, athletes use CBD oil for pain relief after a rough day at training, pet owners give CBD treats to their dogs and cats for de-stressing, and people take a swig of CBD-infused drinks for a quick energy boost.
Additionally, CBD has achieved a significant milestone when the U.S. Food and Drug Administration approved an epilepsy drug made from the said substance earlier this year, the first of its kind.
Considering that this market category is still young, the industry’s growth and reaching $190 million in sales by 2017 is a clear indicator that it is here to stay. And one company is perfectly positioned to utilize all of the opportunities this burgeoning sector is offering.
In the right place at the right time
A publicly traded company responsible for the research, development and multi-national distribution of premium hemp extracts, PotNetwork Holdings, Inc. (OTCMKTS:POTN) operates as one of the leaders in the industry today.
Focused on the booming CBD industry, as well as other related verticals, POTN has successfully built a flourishing business out of the wonder compound, managing to consistently break its yearly records.
Of course, in an industry this massive, there are bound to be different consumers with various needs and wants. POTN decided to meet this demand by diversifying its products. But with over 15 recognizable brands distributed through more than 10,000 retail stores around the U.S., it’s safe to say that the company has it covered.
It even goes beyond that as POTN also operates as a holding company for its many subsidiaries, including Diamond CBD. The said subsidiary is recognized as one of the biggest manufacturers of CBD products across the country. Using the purest CBD oil extracted from non-GMO plants, Diamond CBD manufactures everything from gummies and cake drops to oils and tinctures to cater to every type of market. The company also has a special line for supplements and pets, called Meds Biotech and MediPets, respectively.
In a recent effort to reach a bigger audience, Diamond CBD also showcased its products, as well as the new arrivals, at the 56th ASD Market Week trade show. Historically, the company has always performed extremely well in trade shows in terms of publicity and sales, and this year is no different because, throughout the three-day event, Diamond CBD received more than 400 orders.
To wrap it up, all signs point out that this industry is here to stay. And as demand for diversification in the market starts to rise, companies like POTN and its subsidiaries are in the perfect place to meet it head first.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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