Houston, Texas--(Newsfile Corp. - April 29, 2020) - CBD and THC are under considerable demand.
According to a survey from the Brightfield Group, up to 40% of consumers plan to use CBD far more frequently because of COVID-19, with 15% planning to use a higher dose, as highlighted by Food Navigator USA.
"There is no question that with much of the country recommending to shelter at home and a pandemic sweeping the globe, anxiety levels are skyrocketing," says Brightfield Group's managing director Bethany Gomez. "Anxiety is the #1 ailment of CBD users - 53% of them report it. Depression and insomnia, which likely to spike over the coming months, are #3 & 4. For those that truly need CBD and are relying on it for their health and wellbeing, consumption is expected to continue or increase."
At the same time, "Rapidly changing consumer attitudes toward hemp-derived CBD-based products continue to drive consumer demand and market growth conservatively expected to reach $24 billion in North America by 2023. But, many retailers and manufacturers are still playing catch-up to that demand, putting in play billions of dollars in sales, according '2019 CBD Market Survey,'" as highlighted by Refrigerated Frozen Food.
THC is seeing big demand, as well. "Marijuana sales are booming," says Politico, "with some states seeing 20 percent spikes in sales as anxious Americans prepare to be hunkered down in their homes potentially for months. Weed sellers are staffing up too, hiring laid-off workers from other industries to meet demand."
One of the Top Companies Benefiting from the CBD boom is Yield Growth.
The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) just announced its wholly owned subsidiary Jack n Jane Essentials Inc. signed a definitive agreement on April 27, 2020 with licensed producer Argentia Gold Corporation, for the manufacture and distribution of Jack n Jane branded cannabis products in Canada.
The agreement includes 35 products to be launched over a 2-year term, including similar products that have been previously launched by Yield Growth subsidiary and cannabis wellness brand Wright & Well, in Oregon, U.S. Yield Growth has developed the cannabis brand Jack n Jane especially for the Canadian market, with dozens of cannabis 2.0 products planned using proprietary formulas from Yield Growth's extensive catalogue.
The agreement states the parties will work towards an initial summer 2020 launch with THC-infused topical balm, gel, massage oil and THC and CBD tinctures, as seen in the Wright & Well collection. THC pre-rolls, live resin and gummies are planned for launch in late 2020 and THC-infused mints and chocolates, as well as CBD skin care products are planned to launch in 2021. Cannabis-infused beverages, teas, capsules and intimacy products are planned to follow. The formulas for the 35 products in the line come from Yield Growth's extensive formula library. These formulas are all natural, plant-based, and developed with Ayurvedic principles. The topical products contain Yield Growth's proprietary hemp root oil, made using Yield Growth's proprietary and patent-pending extraction technology. Argentia Gold expects to fulfill the licensing requirements to sell cannabis products in 3 provinces next month, with plans underway to obtain sales licenses in 7 more provinces this year.
"We are extremely excited to be embarking on this new initiative. Argentia Gold has the cannabis cultivation and processing licenses to enable us to launch our Jack n Jane products in Canada. The execution of this agreement marks the culmination of years of work by our product development, branding, legal and marketing teams," says Penny White, Yield Growth co-founder and CEO. "After launching 20 cannabis and personal care products in the past 16 months, while developing a diverse range of brands, we have gained the expertise to launch a range of cannabis 2.0 products into the Canadian market over the next 2 years."
For more information, visit the company's website at .
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