MIAMI, March 10, 2021 /PRNewswire-PRWeb/ -- D8 Holdings, Inc., a hemp company that develops and specializes in the extraction, manufacturing, and distribution of hemp derived Delta-8 THC—today announced the launch of a new line of Delta-8 disposable vapes targeting the $6.5 billion legal cannabis concentrate market.
"We're excited to add a brand new line of disposable Delta-8 vapes to our bestselling THC products that include Delta-8 gummies and Delta-8 cartridges," said Chris Duffield, CEO of D8 Holdings. "We only use the highest-quality Delta-8 oil to infuse all of our products and we develop everything in-house where we triple test for potency, microbials, heavy metals, solvents, and pesticides at multiple third-party DEA registered testing facilities."
D8 Holdings' Delta-8 disposable vapes are available in four flavors: Melon x Berry, Watermelon x Ice, Mango x Strawberry, and Guava x Lychee. This product line will compliment D8 Holdings' cartridge line by giving customers an alternative to strain based flavors.
According to ArcView Market Research, the U.S. vape concentrate market will be a $6.5 billion industry by 2022, followed by edibles at $4 billion. D8 Holdings projects the Delta-8 market will be between $169M - $200M in 2021, with an approximate 70 percent CAGR for the next few years: $287M -$340M in 2022 and $488M - $578M in 2023.
"Our channel checks show Delta-8 has only penetrated about 20 percent of the stores that are carrying CBD or have carried CBD at one time, providing a massive growth opportunity," said Duffield. "In comparison, the CBD industry hit $173 million in its second year (2015) and $261 million in its third year (2016) after legalization. That means we are already off to a faster start with Delta-8 THC, with a much higher adoption rate."
D8 Holdings projects its 2021 revenue will be between $30 million and $50 million.
About D8 Holdings Inc.
The D8 Holdings team based in Colorado and Miami—with satellite offices in Las Vegas and Los Angeles—is an assembly of the top hemp and cannabis minds in the country. With backgrounds in extraction, chemistry, manufacturing, marketing, distribution, and legal, the D8 Holdings team came together organically around this elusive, but extremely powerful molecule to create a new category of products. More info at http://www.d8.co.
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Media Contact
Chris Duffield, D8 Holdings Inc., +1 424.333.2112, [email protected]
SOURCE D8 Holdings Inc.
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