With the CBD market exploding, fierce competition is bound to arise. CBD companies can vary quite a bit in the types of products they offer and the way they go about producing them, which respectively opens up different lanes.
However, we’ve compiled a list of some of the biggest CBD players in the U.S. regardless of their specific niche.
CuraLeaf
CuraLeaf isn’t a strictly CBD company, however, it is or was viewed as the most valuable cannabis company in the U.S. at least until July this year, before the FDA warned it about not having the necessary approval for four of its CBD products, causing its shares to drop by 15%.
Even so, CuraLeaf is a major player, and we’re interested to see how they bounce back.
Charlotte’s Web
Charlotte’s Web has taken the CBD market by storm. To give you an idea of just how fast the company is taking over, by the end of 2018, the company shipped to 3,680 retail locations. Only a quarter later, the number has jumped by over 50%, going past 6000.
Charlotte’s Web is showing no signs of slowing down, planning to more than double the 300 acres of hemp it had in 2018 this year. This is reflected in Wall Street’s expectations for growth in the company’s sales for this and the following year.
And it’s not as if Charlotte’s Web owes its success to a very tight niche. They hardly discriminate against CBD delivery methods, and their products come in capsules, creams, oils, and pet products.
Elixinol
Elixinol is predominantly an Australian company, given that two of its three subcompanies are based there, however, Elixinol USA is a major force that dominates CBD dietary supplements.
Elixinol USA is continuously and systematically gaining momentum through major investments in its production capabilities in Colorado, which currently are 21,000 square feet, with another 23,000 square feet of land just waiting to be harnessed in the future.
CV Sciences
CV Sciences is a prime example that transparency—especially in such a health-oriented field—pays off.
The company is very open about its products’ exact CBD contents, which certainly is a major factor in the 48% increase of its retail presence in just one quarter, between December last year and March this year.
Canopy Growth
Even though Canopy Growth is a Canadian company, it’s a major player in the U.S. In fact, it was he first Canadian cannabis producer in the North American hemp market, and its large-scale hemp production facility in New York is a clear sign of its serious intentions to stay.
And considering that 38% of its shares are owned by Constellation, the Fortune 500 company behind Corona and Modelo, Canopy certainly has all the marketing expertise and power to ensure its status as a leader in the U.S. CBD industry in the years to come.
These and some other companies are not only major CBD powerhouses, but also serve as testaments to the rapid growth and promising development of the CBD and cannabis industries altogether.
Image Credits: (IBD/stock.adobe.com/illustration)
