Making CBD part of your daily intake has puzzled many, as the CBD-curious consumer searches ways to include this non-psychoactive component of the cannabis plant. The resurgent popularity of chewing gum as a way to ingest CBD is prompted by an 84% absorption rate. This, combined with the natural effects of chewing, is bolstering CBD gum sales as we get off to a healthy 2020.
CanaFarma is a New York-based company selling great products online at an aggressive clip. Their Yooforic CBD Gum is getting traction, as the company expands product sales, and the core growing production with an aggressive 2020 plan. CanaFarma Corp is a New York company that launched recently in the CBD field and is in the midst of going public on the Canadian Securities Exchange. They are also projecting $45 million in revenue by the end of this year as they expand the product line to oils, creams and other creative uses for CBD.
CBD, which is short for the non-intoxicating compound cannabidiol, is made from hemp, which is essentially the same plant that produces marijuana. In 2018, the U.S. Farm Bill legalized the cultivation and sale of hemp as long as it contained only trace amounts of tetrahydrocannabinol, or THC, the chemical that gets cannabis users high.
CBD’s provide relief for anxiety, insomnia, and ordinary aches and pains. A high-dosage version of the drug has been approved for the treatment of epileptic seizures in children and propelled GW Pharma higher, as real use cases for cannabis get market/revenue traction. The spectrum of companies capitalizing on revenue growth is in an expansion phase that projects through the first half of the decade.
CanaFarma appears to be the first New York-based CBD company to go public in Canada, other companies in the sector have used the Canadian exchange because of more liberal laws north of the border governing cannabis-related products. CanaFarma also has the means to produce CBD products literally from the ground up: It is a part-owner of Simple Solutions, which operates a 55-acre organic hemp farm in Duchess County.
Canafarma looks to be the market’s only truly vertically-integrated enterprise completely in control of its CBD products from seed-to-counter, and this is a huge step in developing pedigree in the market as most of the CBD/Hemp Oil market is fragmented with small players each focused on one aspect of the product chain. The company looks to leverage the public markets to assist in expanding operations and have first to market leadership in this fragmented market.
Chewing gum has played an important part in American history beginning with the Wrigley Family selling chewing gum products as early as 1891. Some 130 years later we find chewing gum again acting as a delivery mechanism in a modern world.
Today that chewing gum company from the late 1800s is wholly owned by Mars, Incorporated, and along with Mars chocolate bars and other candy products, makes up Mars Wrigley Confectionery with $35 billion in annual sales, and is the largest manufacturer and marketer of chewing gum in the world.
Getting a product to the consumer has always been challenging, but those who succeed in developing a brand with a sustained margin is even more challenging, but we see from our chewing gum magnate that these building blocks can lead to great things, and in the world of chewing gum, it is about basic blocking and tackling, but it is still about the chew.
