HempFusion Wellness Inc. CBD CBDHF 8OO revealed Thursday it has launched its Ingestible and Topical CBD products into nearly 50 retail locations of a major Arizona grocer.
The Colorado-headquartered company already has more than 20 of its SKUs available across The Grand Canyon State, including USDA organic-certified tinctures, sleep and stress support capsules, two sorts of gummies and a variety of topicals. Four SKUs of HempFusion’s wholly-owned subsidiary, Sagely Naturals, are on store shelves as well.
HempFusion noted that the Brightfield Group projected the grocery store channel will be the fastest-growing for CBD products between 2021 and 2026. Just this year alone, CBD sales in this channel should experience growth of 151% from 2020, reaching $165 million, and should hit $768 million in 2026.
“We continue to make great progress expanding our retail footprint in order to capitalize on our strong brand portfolio and growing consumer trends in the CBD category,” Jason Mitchell, N.D., HempFusion‘s co-founder and CEO stated. “Adding this new key grocery retailer in a market like Arizona which over-indexes on per-capita CBD consumption versus most other states, helps us gain greater share in the state, and positions the Company for future potential regulatory changes."
Mitchell added that the total number of locations offering the company’s products in the U.S. now surpasses 15,000.
More recent news from HempFusion:
Cannabis Movers & Shakers: GrowGen, The CanCoin, TXOG, HempFusion, Cannabis Bioscience International
HempFusion's Stock Slightly Up On Announcing Sagely Naturals' Launch Into Top 10 US Retail Outlets
CBD Co. HempFusion Completes Acquisition Of Apothecanna
Price Action
HempFusion’s shares were trading 19 cents per share at the time of writing Thursday morning.
Photo: Courtesy of Business Wire
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