NEW YORK, May 9, 2019 /PRNewswire/ -- Extolling the benefits of cannabidiol (CBD), A-List celebrities are
One after another, celebrity figures are stepping up to sing praises for CBD – a non-psychoactive component of the cannabis plant. As the medical benefits of the products are increasingly being endorsed and developed by physicians, such as those behind The Physician's Choice CBD, which recently had a stake acquired by Chemistree Technology Inc. (CSE:CHM) (OTC:CHMJF).
Now a part of the Chemistree Technology Inc. brand portfolio—which includes the award-winning Sugarleaf cannabis flower strain—The Physician's Choice CBD line brings a suite of nine cannabidiol-infused products into the marketplace. Having the brain trust of veteran physicians and the Chemistree Technology Inc. team behind the brand's products lends credibility to the theoretical claims of CBD's effectiveness.
Even celebrated doctors, such as Dr. Sanjay Gupta have given qualified endorsements of CBD, who said on The Dr. Oz Show, "I think there is a legitimate medicine here… We're talking about something that could really help people."
The widespread legality of hemp-based CBD products has been on the move, with the passing of the 2018 US Farm Bill. Other prominent federal agencies, including the FDA, are showing signs of moving towards a loosening of CBD's regulatory shackles.
Data compiled by Bethany Gomez at Brightfield Group, market research company expects the CBD industry to grow from $600 million in the U.S. to $22 billion in 2022. Gomez says "I have never seen an industry grow this quickly, and I've never seen an industry with so much headwind."
CBD's Spreading Popularity
More recently, joining in celebrity endorsements have been a popular PGA golfer who is the two-time Masters champion touts that CBD can help sustain his career at the highest level, having entered a partnership deal with cbdMD, Inc. (NYSE:YCBD).
CBD is gaining ground across multiple generations, multiple states, and even multiple income classes. Upscale retailer Barneys New York recently opened its own cannabis dispensary called The High End, which will feature CBD products from recently acquired Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF) subsidiary Beboe.
Also helping the spread of sales of CBD products will be the opening of stores across multiple states, as is being down by growing multi-state operator (MSO) Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HRVSF) The cannabis seller aims to be operating 60 stores by year-end 2019, with more than 120 stores in 15 states (and Puerto Rico) by the end of 2020. However, the company itself isn't putting a lot of emphasis on its own products featuring CBD.
An explosion of new products featuring CBD will be rolling out across the continent beyond dispensaries, with kiosks in malls, and even in places where chocolate is sold, such as the developing project from Namaste Technologies Inc. (TSX-V:N) (OTCQB:NXTTF), which is expanding into edibles with investment in bean-to-bar chocolatiers Choklat.
Further developing new CBD products is The Physician's Choice CBD brand (aka "PCCBD"), now partially-owned by Chemistree Technology Inc. (CSE:CHM) (OTCQB:CHMJF). Established in 2018, PCCBD has so far developed a suite of nine full spectrum CBD from Hemp products. These products range from pain/inflammation management to sleep and wellness supplements.
Medical and Celebrity Endorsements
With the Chemistree Technology Inc. (CSE:CHM) (OTCQB:CHMJF) stake acquisition of The Physician's Choice CBD, the company has products appealing to the top three desired CBD uses—pain management, stress relief/anxiety, and health and beauty.
Helming PCCBD are founders Dr. Julian Grove, MD, and Dr. Peter Kubitz, D.O. who each has over 15 years in private practice, treating patients suffering from chronic pain. By integrating their extensive physician clinical experience with exhaustive expertise in the cannabis industry, The Physicians Choice CBD brand has already seen notable successes since its launch.
Pain management has been perhaps the most appealing among the proposed benefits of CBD, especially by celebrities such as actresses who uses it to relieve pain from wearing heels. But CBD's use for reducing anxiety has seen a spike in its use for stress relief – this is particularly popular amongst celebrity moms who rely on it to manage "freaking out" during their pregnancy.
"Managing various pain syndromes with medications that do not exacerbate severe medical conditions and behavioral risk factors is an ongoing challenge for medical professionals," said Dr. Grove of PCCBD. "This has been a driving force in the development of a product line of cannabidiol products, aiding in the management of specific pain syndromes and improve a sense of well-being."
Among the suite of The Physician's Choice CBD products are nine full-spectrum, hemp-derived CBD products ranging from pain/inflammation management to sleep and wellness supplements. These include muscle and joint cream, capsules for energy, sleep, migraines, pain/inflammation, nerve pain, and overall wellness.
"This investment in The Physician's Choice CBD is a great opportunity for Chemistree," said President of Chemistree Technology Inc. (CSE:CHM) (OTC:CHMJF), Karl Kottmeier. "Dr. Grove and Dr. Kubitz are board certified practicing physicians with training at Harvard and the Mayo Clinic, specializing in pain management. Their collective education and practical experience are industry-leading and their commitment to the health of their patients and to developing real solutions to pain management with cannabidiol-based supplements is truly inspiring. The investment we are making into PCCBD gives us exposure to an entirely new industry."
Additional Movement in the CBD Market
Though it hasn't pushed explicitly into the CBD market, multi-state operators Harvest Health & Recreation Inc. have among their portfolio the CBx Sciences which includes a line of products highlighting cannabis' other compounds. The brand features other cannabinoids such as CBN, CBD, and CBG. The brand is available in Arizona, Florida, and soon in California. Under its Biomed brand, Harvest also sells tinctures and full-spectrum oil syringes with THC and CBD.
With the February acquisition of premium cannabis brand Beboe, Green Thumb Industries Inc. took over the recently launched direct-to-consumer hemp-derived CBD line of products, including a CBD-infused drink with wellness brand Dirty Lemon. Beboe products will expand beyond California and Colorado with distribution in select GTI markets. The company also sells vaporizing pens and edible pastilles with a unique blend of THC and CBD.
In terms of cannabis products, Namaste Technologies Inc. offers pretty much everything, from accessories and vaporizers to full CBD products and medical cannabis. It's likely that through the acquisition of chocolatier company Choklat, the company will be creating products that can easily be infused with THC or CBD and sold as edibles.
On the golf course, cbdMD, Inc. products will be getting more prominent displays, especially with the new partnership with a two-time Masters champion. The PGA golfer takes CBD to recover after tough days on the green, and will be endorsing cbdMD products after a deal that helps put the company which is the first CBD company to list on a US stock exchange on the map. The company brings to the market a product suite that includes oils, gummies, and even bath bombs.
Newer CBD products will be hitting the market throughout 2019. More celebrity, governmental, and medical support for the rise in popularity of these products is expected to continue in the months to come.
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