Retail sales in the global CBD market surge with growing consumer acceptance
PALM BEACH, Florida, December 1, 2021 / PRNewswire / – FinancialNewsMedia.com News commentary – Due to its healing properties, the demand for cannabidiol (CBD) for health and wellness purposes is high, which is the main driver of market growth. In addition, the increasing acceptance and use of the products due to government approvals is a major factor that is expected to drive the production of CBD infused products. Of all the cannabinoids, cannabidiol is the most widely used for therapeutic purposes due to the lack of psychoactive effects. In many medical applications, cannabidiol oil is used, such as treating anxiety and depression, relieving stress, preventing diabetes, relieving pain, relieving symptoms of cancer and l ‘inflammation. Due to the increasing adoption of CBD products for treating diseases, the global cannabidiol market is expected to grow at a lucrative rate during the forecast period. The growing awareness of the therapeutic benefits of cannabidiol has prompted a buyer to purchase cannabidiol products regardless of the cost. As these have a larger profit margin, commercial retailers are now focusing on the sale of cannabis products. Many health and wellness retailers offer CBD products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition, CVS Health decides to offer CBD topicals at its 800 stores and the Walgreens Boots Alliance sells topicals containing CBD at 1500 of its stores in the United States. Companies active in the markets today understand The OLB Group, Inc. (NASDAQ: OLB), Canopy Growth Company (NASDAQ: CGC) (TSX: WEED), Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB).
A report from Grand View Research stated that the global cannabidiol market size is estimated to be $ 2.8 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. The report states: “Cannabidiol derived from hemp is expected to experience rapid growth due to increasing demand from the pharmaceutical industry and growing awareness. among consumers with regard to health. The increase in disposable income of consumers as well as the legalization of medicinal cannabis is expected to have a positive impact on the demand for cannabidiol in the pharmaceutical sector. Oils, tinctures, concentrates, capsules, topical solutions such as slaves, lip balms, lotions and edibles such as baked goods, coffee, chocolates, gums and candies are some of the products. In addition, the use of CBD derived from hemp is increasing rapidly due to its anti-inflammatory, anti-inflammatory properties. Aging and Antioxidant Properties.Various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and drink are developing products derived from CBD for health and wellness purposes. Therefore, the factors mentioned above would be responsible for the fastest growth rate of this segment during the forecast period. “
The OLB Group, Inc. (NASDAQ: OLB) LATEST NEWS: OLB Group acquires CBD merchant portfolio with exceeded annual transaction volume $ 400 million– OLB Group, Inc., a diverse fintech merchant services provider and Bitcoin mining company, today announced that it has reached a definitive agreement to acquire a portfolio of cannabidiol (CBD) merchants that will use the SecurePay payment gateway company to process payments. The acquired merchant portfolio has demonstrated a historic annual transaction rate where it is expected to achieve an annual transaction volume of approximately $ 400 million in 2022, giving the OLB a significant foothold in the $ 3 billion global CBD market while adding an accomplished and experienced sales channel to the OLB team. The OLB Group anticipates, on the basis of the historical performances of the group of retailers, a $ 20 million in annual turnover and $ 5 million in earnings before interest, taxes, depreciation and amortization (EBITDA) for the payment processing business of the company. The terms of the transaction can be found in the company’s SEC file [https://www.sec.gov/ix?doc=/Archives/edgar/data/0001314196/000121390021062606/ea151441-8k_theolbgroup.htm .
“OLB is very pleased to have successfully closed this transaction resulting in this substantial addition to our payment processing business in a market sector that has been growing rapidly over the past several years. This portfolio acquisition of successful merchants in a market that is forecasted to continue its very healthy growth rate in both profitability and revenue provides OLB with a new growth engine,” said Ronny Yakov, Chief Executive Officer of The OLB Group. “The revenue contribution to our top line is anticipated to represent an increase of revenue of approximately 200% percent in 2022 when compared to 2020 revenue.”
According to a recent market analysis by Grandview Research, the flourishing CBD market was valued at approximately $2.8B in 2020 and is projected to increase at an annual rate of 21.2% through 2028. This strategic acquisition positions OLB to capitalize on the projected growth of the CBD market, enabling further penetration into one of the fastest growing sectors in the United States. By providing the merchant portfolio with the proprietary and customizable “SecurePay” system, OLB will be able to address many of the payment concerns relating to the increase in activity in the CBD sector.
SecurePay provides an integrated support platform for traditional card-based payments, major digital wallets including Apple Pay® and Google Pay®, PayPal, and cryptocurrency wallets. The cloud-based platform also includes integrations with multiple back-office systems including QuickBooks and other business software applications.
For merchants searching for a comprehensive solution to simplify business processes and payment acceptance at the point of sale (PoS,) OLB’s OmniSoft Business Management Platform offers merchants extended services including PoS terminals, warehouse, inventory, and logistics support, accounting and payroll, and customer relationship management. Merchants interested in implementing omnicommerce services can set up a SecurePay or OmniSoft account at https://cardaccept.com/#contact. CONTINUED…For more information about The OLB Group, please visit https://olb.com/ or http://olb.com/investors-data/.
Other recent developments in markets include:
Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), a world-leading diversified cannabis, hemp, and cannabis device company, recently unveiled a new lineup of premium flower offerings across its 7ACRES, 7ACRES Craft Collective and DOJA brands, including a range of national and limited-edition craft strains. These sought-after strains meet the growing demand of the Canadian flower market and deliver the Company’s commitment to deliver on consumers’ evolving preferences.
“The strong performance of our premium flower strains DOJA Okanagan Grown Ultra Sour and 7ACRES Jack Haze have helped Canopy build on its #1 market share in Canadian premium dried flower, with twice the market share of our leading competitor last quarter,” said Kelly Olsen, Vice President, Global Flower Business. “We are committed to providing the Canadian consumer with a wide range of flower products and the launch of these ten new flower offerings delivers the premium credentials they’re looking for.”
Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY) recently announced that two of its leading brands, SweetWater Brewing Company (“SweetWater“) and RIFF Cannabis (“RIFF”), have collaborated for the exclusive U.S. launch of SweetWater RIFF — SweetWater’s first ready-to-drink (RTD) cocktail and its inaugural entry into the spirits category. SweetWater RIFF brings a unique twist on RTD vodka sodas in two offerings: SweetWater RIFF Citrus and SweetWater RIFF Strawberry Mule.
“SweetWater’s entry into the spirits category reflects the essence of the SweetWater brand: original, compelling and enticing,” said Brian Miesieski, SweetWater’s Chief Marketing Officer. “SweetWater RIFF delivers a great-tasting ready-to-drink cocktail with a premium taste developed in partnership with RIFF’s own highly curated, expertly made approach. We are incredibly excited to expand and create something that is a great alternative to our incredible selection of beers and seltzers – and believe consumers will love it.”
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced the launch of its SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummy, the first cannabis edible of its kind in Canada to feature THC and cultured cannabigerol (“CBG”) from fermentation in a sweet, delicious gummy for adult consumers. As the only cannabis gummy in Canada to feature cultured CBG, one of many rare cannabinoids found in small quantities within the cannabis plant, this gummy is formulated to deliver a happy and relaxed experience.
SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummies come in a Pineapple Starfruit flavor and feature the same dual flavor combination and flavor masking technology that have made SOURZ™ gummies one of the best-selling cannabis edibles in Canada.
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced the naming of the Company’s new genetics licensing business unit – Occo – a leading innovator in the scientific discovery and commercial advancement of novel cannabis cultivars, backed by Aurora’s state-of-the-art breeding and genetics facility in Comox, British Columbia.
Occo, derived from the Latin word for ’tilling of the field,’ refers to the brand’s reverence for the cannabis plant, and its mission to support the people who grow and consume it. With the largest catalogue of high-quality genetics available for licensing in Canada, Occo is aptly positioned to reach its goals of further developing the scientific understanding of cannabis, commercializing high-quality products, providing value for cannabis growers, and helping to realize the full potential of the cannabis plant.
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