DEERFIELD, Ill. —Mondelez International is looking to break into the CBD landscape, but will remain on the sidelines until the U.S. Food and Drug Administration (FDA) crafts guidelines for the substance in food products, Dirk Van de Put, CEO of Mondelez, said in an interview with CNBC.
“We have been exploring [CBD], but the space is not clear,” Van de Put said. “It’s a bit clearer in nonfood products, which I’m hoping the FDA brings some clarity for in the upcoming months.”
CBD in snacks and candy—Mondelez’s core sectors—is on the rise. In 2018, chocolate candies made with CBD accounted for 61% of the total chocolate market in Colorado, according to Boulder, Colo.-based research firm BDS Analytics. And in January 2018, edibles containing CBD garnered 17% of edible sales in Arizona, California, Colorado and Oregon. Within 10 months, that increased to 25%. Current CBD players in the snack and candy space include manufacturers Platinum X CBD, which showcased its CBD Lollipops at the 7-Eleven FOAC Holiday Tradeshow in November 2018; Diamond CBD, which makes CBD gummies, cake pops and chocolate; and Cannabinoid Creations, whose CBD candy line includes Hemp Hard Candy.
While Mondelez is unlikely to infuse its “family brands”—such as Oreo—with CBD, the company is exploring ways to promote some of its newer products with the substance, Van de Put said. He did not name specific brands.
“Yes, we’re getting ready, but obviously we want to stay within what is legal and play the right way,” he said. “We’ll see where it’s all heading, but it’s obvious the edible space in this universe is going to be interesting. It’s something to watch.”
Deerfield, Ill.-based Mondelez is a global snacking company operating in 160 countries. Mondelez manufactures biscuits, chocolate, gum, candy and powdered beverages; its products include BelVita, Chips Ahoy, Oreo, Nabisco, Cadbury, Jacobs coffee, Tang powdered beverages and Trident gum.
Watch CNBC’s interview with Dirk Van de Put below.