Global CBD Market Retail Sales Jump Along With Rising Consumer Acceptance

PALM BEACH, Fla., Dec. 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 major factor driving the market growth. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost production for CBD-infused products.  Out of all cannabinoids, cannabidiol is most widely used for therapeutic reasons due to the lack of psychoactive effects. In many medical applications, cannabidiol oil is used, such as anxiety and depression treatment, stress relief, diabetes prevention, pain relief, cancer symptom relief, and inflammation. Due to the increasing adoption of CBD-based products to treat ailments, the global cannabidiol market is anticipated to grow at a lucrative rate over the forecast period.  Increasing awareness of cannabidiol's therapeutic benefits has influenced a buyer to buy cannabidiol products, regardless of their cost. As these have a greater profit margin, commercial retailers are now focusing on selling cannabis-based products. Numerous health and wellness retailers are offering CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition, CVS Health decides to offer CBD topicals all over its 800 stores and Walgreens Boots Alliance is selling CBD-containing topicals across 1500 of its stores in the U.S.    Active Companies in the markets today include The OLB Group, Inc. (NASDAQ: OLB), Canopy Growth Corporation (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 said that the global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.  The report said: "Cannabidiol derived from hemp is anticipated to witness rapid growth owing to increasing demand from the pharmaceutical sector and rising awareness among consumers regarding health. Increasing consumer disposable income along with the legalization of medicinal cannabis is anticipated to have a positive impact on the demand for cannabidiol in the pharmaceutical sector. Oils, tinctures, concentrate, capsules, topical solutions such as slaves, lip balms, lotions, and edibles such as baked goods, coffee, chocolates, gums, and candies are some of the CBD products which are in high demand.  Furthermore, the use of hemp-derived CBD is increasing rapidly owing to its anti-inflammatory, anti-aging, and antioxidant properties. Various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and beverages are developing CBD-derived products for health and wellness purposes. Therefore, the above-mentioned factors would be responsible for this segment's fastest growth rate over the forecast period."

The OLB Group, Inc. (NASDAQ: OLB) BREAKING NEWS:  OLB Group Acquires CBD Merchant Portfolio with Annual Transaction Volume Over $400 Million - The OLB Group, Inc., a diversified fintech  merchant services provider and Bitcoin mining enterprise, today announced it has entered into a definitive agreement  to acquire a portfolio of cannabidiol (CBD) merchants that will utilize the company's SecurePay Payment Gateway to process payments. The acquired merchant portfolio has demonstrated a historical annual transaction run rate where it is anticipated to achieve an annual transaction volume of approximately $400 million in 2022, providing OLB with a significant foothold in the nearly $3 billion global CBD market while adding an accomplished and experienced sales channel to the OLB team. The OLB Group anticipates, based on the historical performance of the group of merchant, an additional $20 million in annual revenue and $5 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) for the company's payment processing business. Terms of the transaction can be found in the Company's SEC filing [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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