iBrands Corporation Enters Into Retail & B2B CBD Markets
CBD Market Could Reach 20 Billion By 2024
LAS VEGAS, Dec. 5, 2019 /PRNewswire-PRWeb/ -- iBrands Corporation (OTC: IBRC) ("the Company"), a diversified holding and branding company, announces that it has launched a new online store, iBrands Farms.
iBrands Farms has over 40 retail industrial hemp derived CBD products ranging from smokables, isolate by the ounce, topicals, edibles, and dog treats. Products can be found at http://www.ibrandsfarms.com.
"The industry is moving in a rapid upward trajectory so there is great upside in carving a niche in the retail and B2B CBD markets due to markedly increased demand for CBD infused consumer products such as tinctures, face creams, and dog treats." said Patrick Johnson, CEO of iBrands Corporation." We also possess the capability to offer whitelabel branding to retail outlets who wholesale product from us." He said.
From almost nothing, in 2015, the market for consumer sales of hemp-derived CBD products grew to a cool $90 million. Add to that another $112 million in marijuana-derived CBD products, which were sold legally through dispensaries, and you have a total CBD market of $202 million in 2015.
In 2016, the total retail value of hemp products sold in the U.S. reached $688 million. Hemp-derived CBD products are estimated to contribute up to $130 million of that figure.
A report produced by the editors of Hemp Industry Daily says retail sales of CBD in the United States are on track to surpassing $1 billion in 2019. This would imply 133% growth over 2018 sales.
The 2019 Hemp & CBD Industry Factbook says CBD retail sales in the U.S. may eclipse $10 billion by 2024. "The recent surge of consumer demand for CBD, coupled with increasingly easy access to CBD products, is expected to drive retail sales to about $1.1 billion-$1.3 billion in 2019," said Kristen Nichols, editor of the Second Annual Hemp & CBD Industry Factbook. "We project retail CBD sales will increase to $10.3 billion by 2024, a five-year compound annual growth rate of 54%."
About iBrands Farms
iBrands Farms is a vertically integrated agribusiness focused on the production of hemp derived products with naturally occurring cannabinoids. Our mission is to efficiently deliver the highest quality industrial hemp-derived cannabinoid products to our customers, both retail and wholesale. The company can be found at http://www.ibrandsfarms.com.
About iBrands Corporation
iBrands Corporation, Inc. is a holding and branding company that acquires and operates niche market brands that have unique market positions within sectors that demonstrate return on investment potential. Business partnerships throughout the United States and Canada provide our brands many markets to expand into and produce consistently high growth rates for the next decade. The company can be found at: http://www.ibrandscorporation.com.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
iBrands Corporation Inc.
Patrick J. Johnson
Chief Executive Officer
(702) 570-2575
[email protected]
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Sources:
https://hempvictorygarden.com/news/cbd-consumer-market-expected-to-reach-2-1-billion-by-2020/
https://www.benzinga.com/markets/cannabis/19/10/14614694/new-report-says-cbd-sales-could-surpass-1b-in-2019-10b-by-2024
https://hempindustrydaily.com/exclusive-us-retail-sales-of-cbd-to-increase-133-in-2019-surpass-10-billion-by-2024/
https://hempindustrydaily.com/hemp-factbook/
https://usacbdexpo.com/blogs/cbd-blogs-news/2019/9/benefits-of-investing-in-the-cbd-industry
https://www.prnewswire.com/news-releases/all-indications-point-to-billion-dollar-cbd-markets-should-continue-to-skyrocket-300933606.html
https://www.prnewswire.com/news-releases/us-cbd-market-projected-to-grow-at-107-annual-average-cagr-through-2023-300893763.html
SOURCE iBrands Corporation
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