Harvest One Eyes Global Expansion For New Cannabis-Infused Products

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

As legalization gains momentum, conservative estimates project that the global legal marijuana market will grow to $70.6 billion by 2028. 

With the potential of this market inching closer to reality, companies interested in capturing some of that market are adapting their business models to meet the unique demands of the cannabis sector. A strong, consumer-focused strategy with an emphasis on investing in innovation and brand growth will be key to success. One company doing just that is Harvest One Cannabis Inc. HRVOF, a consumer packaged goods (CPG) leader that develops over-the-counter non-infused and cannabis-infused health and wellness products. 

Here’s how the Canada-based cannabis company’s uncommon approach is laying the groundwork to become an industry leader in the emerging legal cannabis space.

Build a Robust Global Distribution Network First to Support the Regulated Cannabis Market

The key challenges new CPG companies in the cannabis space face is brand recognition and product placement. While these challenges obstruct new CPG companies in any space, cannabis companies contend with even more obstacles as stricter market regulations limit how and where a brand can market its product. 

Harvest One has found a unique approach to address these challenges. With its 2018 acquisition of Dream Water, Harvest One gained instant access to 30,000 North American retail outlets and an emerging e-commerce business. The brand already had gained considerable recognition by the time Harvest One acquired it and since then, Dream Water has added more than 11,000 new distribution points across the United States. 

In February, the company signed a major Asian distribution agreement, gaining access to Golden River’s massive distribution network that includes retail partners across China and other Asian countries, e-commerce platforms with a total of over 500 million active monthly users and airlines. 

With this rapidly expanding network, Harvest One is poised to immediately achieve global distribution as soon as markets become viable for the cannabis-infused products currently in development. 

A Focus on The Consumer 

The key to the success of cannabis-infused products is an understanding of the target consumer. A 2020 report from New Frontier Data found that 60% of CBD consumers listed “unwinding” as their leading reason for using the product while 58% mentioned pain and 48% cited general wellness. 

With its expanding portfolio of cannabis-infused topical creams and its plan to develop other innovative products that aid in sleep and relaxation under its recently acquired Dream Water brand, Harvest One demonstrates a strategy aimed at those exact consumer demands. 

After acquiring Delivera Corp. in 2019, Harvest One already has positioned itself as a leader with its top-selling LivRelief™ CBD cream. This July, the company released  an extra-strength version of the popular cream, and the combined teams from the 2 companies are working on further expanding the line of topical creams and self-care products that combine Delivera’s advanced transdermal delivery system with Harvest One’s cannabis expertise.

With its emphasis on innovative product development, tailored to wellness applications that consumers are most interested in and its global positioning, Harvest One’s business model reflects exactly the kind of strategy needed to adapt to an evolving regulated cannabis market.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.