Products containing CBD are one of the fastest-growing categories in the food-and-drug retailing landscape, and demand has only increased during the COVID-19 pandemic.
Sales of CBD products are projected to more than triple during the next few years, reaching an estimated $16.8 billion by 2025, according to research from Brightfield Group. The growth will be driven by increasing consumer interest in CBD as well as by new-product innovation that expands the availability of the hemp-derived ingredient, the research firm said in a recent report.
“The growing diversification and sophistication of CBD products appeals to a much broader consumer audience beyond cannabis users and natural food store consumers,” the report stated.
Increased awareness around the potential health benefits of CBD, as well as consumers’ growing interest in natural, functional products has led consumers to explore the CBD product category, according to Brightfield Group.
Many consumers have become familiar with CBD in dietary supplement form, such as gummies and tinctures, but it is also increasingly available in other familiar forms, such as edibles and beverages. Brightfield Group projected that the CBD beverage market alone could reach $1.5 billion by 2025.
This presents a natural opportunity for convenience retailers seeking to expand their share of the growing CBD market by adding a broader range of edibles and beverage products, along with vapes and supplements.
Canopy Growth,a world-leading cannabis company recently launched Quatreau, a line of CBD-infused sparkling water beverages in the U.S. to meet growing consumer demand. Quatreau is a zero-sugar, low-calorie beverage made with simple, clean ingredients, and includes 20 mg of one of the purest forms of CBD in each 12-ounce can. It also offers consumers a healthier alternative to sugary energy drinks and sodas which are often high in stimulants, sugar and artificial flavors.
In the CBD beverage category, consumers are seeking great-tasting products that deliver a consistent amount of CBD at a competitive price. These consumers tend to be health-focused, so they prefer CBD beverages that feature better-for-you attributes such as low levels of sugar, reduced calories and clean ingredients.
Available in four natural flavor combinations, Quatreau uses Canopy Growth’s proprietary emulsion technology to neutralize unwanted flavors and produce a clear, perfectly blended CBD beverage intended to boost bioavailability and absorption.
Canopy Growth has positioned Quatreau as a lower-priced alternative to other forms of CBD, and it backs the brand with in-store activation and shopper education.
As a provider of multiple CBD product formats, from Martha Stewart CBD™ gummies, oils and softgels to SurityPro™ CBD for dogs, Canopy Growth can serve as a one-stop shop for retailers seeking to expand their CBD offerings with a trusted partner.
Demand for CBD products had already been increasing sharply before the onset of the COVID-19 pandemic a year ago, but the spread of the disease has only served to heighten consumer concern about their mental and physical well-being, leading more consumers to discover the benefits of CBD. Now is the time to offer these consumers CBD products that meet their demands for flavor, efficacy and value.
For more information about how Canopy Growth can expand your CBD assortment with products that satisfy customers’ needs, visit www.canopygrowth.com
This post is sponsored by Canopy Growth