- HempFusion Wellness Inc. offers a full line of CBD products for consumers and medical professionals, via subsidiaries Probulin Probiotics, HF Labs, and Biome Research
- Probulin finished 2020 as one of the fastest growing probiotic brand in the United States according to Spins Data
- Brightfield Group named HempFusion the #2 most recognized CBD brand in America
- Company’s visibility further increased by recent participation in a groundbreaking ValidCare study on CBD and human safety
- Global CBD market is expected to grow from $2.8 billion in 2020 to $13.4 billion in 2028
HempFusion Wellness (TSX: CBD.U) (OTC: CBDHF) (FWB: 8OO), a Denver-based cannabidiol (“CBD”) company focused on utilizing the power of whole-food hemp nutrition for health and wellness, is strategically positioned to leverage its rich product offering and industry knowledge and awareness to capitalize on exceptional growth opportunities expected to emerge on the fast-expanding CBD market.
With the increasing acceptance of CBD for various health benefits and wellness purposes, the global cannabidiol (“CBD”) market size is growing exponentially. The industry was valued at $2.8 billion in 2020 and from 2021 to 2028, it is expected to grow at a CAGR of 21.2%, resulting in a revenue forecast of $13.4 billion in 2028 (https://ibn.fm/4mb3h). Offering product lines that span multiple product categories, ranging from capsules and tinctures to OTC topicals and condition-specific OTC topicals, the company has the potential capture a considerable slice of this market.
Another expanding market HempFusion can capitalize on is the probiotics industry, via 100% wholly-owned subsidiary Probulin Probiotics. Probulin addresses a wide range of consumer needs, including daily care, women’s health, total care, and children’s products. Focused on the medical / professional industry, subsidiaries HF Labs and Biome Research product lines are directed toward doctors and practitioners, as well as catering to hospitals, compounding pharmacies, and free-standing dispensaries. HempFusion has estimated the target market size to include 28,000+ integrative medical doctors and 70,000+ licensed chiropractors in the United States, potentially opening new growth opportunities for the company.
The anticipated growth comes on the heels of increased visibility in the industry following participation in a high-profile CBD study. HempFusion was one of 12 CBD companies selected to participate in groundbreaking research by ValidCare regarding CBD and human safety. ValidCare designed the study to address previous questions the FDA brought forward regarding the use of CBD products. As a part of this study, HempFusion was included in this human trials to help determine if the daily use of full-spectrum CBD or CBD isolate products impacted the human liver (https://ibn.fm/FeYZg).
Results released in March 2021 show validation for the use of CBD products and no liver toxicity, as detailed by HempFusion co-founder and CEO Jason Mitchell, ND, in a press release. “We believe this is a pivotal step forward for the CBD industry, and we look forward to continuing to find ways to provide consumers with safe and quality products,” Dr. Mitchell said. “When specifically looking at how our products performed in the study, having no liver toxicity only bolsters what we have always stated about our products. We believe they are safe,” Dr. Mitchell continued.
After a recent decline in stock price, Mitchell again took to the media outlets, underlining that the company is transparent with investors and that all material information is available. He assured the public and investors that the recent developments were not caused by an “undisclosed development” within the company, and reiterated that HempFusion is in the strongest position it has ever been for where the CBD industry is heading and what new regulatory development loom on the horizon. (https://ibn.fm/kkO0Q).
“We believe the Company is in the strongest position it has ever been with significant partnerships, developments, new distributors, and international channels deep in development, including a significant sales pipeline, consumers returning to stores, multiple international expansion initiatives, and a robust balance sheet, including a strong cash position of approximately US$9.3 million as of December 31, 2020, in addition to the closing of the Company’s US$17 million initial public offering on January 6, 2021,” Dr. Mitchell explained.
HempFusion’s position seems to be reinforced by recent events, including it being named the second in the U.S. for CBD Brand Awareness by the Brightfield Group, and Probulin finishing 2020 as one of the fastest-growing probiotic brand out of the Top 15 in the U.S., according to SPINS. The company remains excited about the future and its global reach, which is anticipated to expand exponentially following entry into the Asian through Tmall Global, after receiving conditional approval. The approval gives HempFusion the potential to reach more than 750 million new consumers.
For more information, visit the company’s website at www.HempFusion.com/corporate-information.
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at https://ibn.fm/CBDHF
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