The Forbes article continued: In addition to the study's conclusion that nearly 7 percent of respondents had used CBD—Azer said she didn't realize that many people tried or used a CBD product—she was surprised by yet another finding: Close to 20 percent of those surveyed said they had sampled a CBD product in beverage form. Interestingly, the study skewed toward the younger generation. The rate of usage for those under 35 was over 9 percent while for those in the 45-55 age bracket, it was 6.4 percent. For people ages 55 and above, the number was 3.7 percent.
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces its expansion into the cannabidiol (CBD) retail space through 'FLORAH,' the newest addition to the Company's operational and investment portfolio. FLORAH is a concept boutique that educates consumers of the benefits of CBD while a curating a best of selection of CBD lifestyle, wellness, beauty and pet products. The company's flagship location is on Melrose Ave in West Hollywood.
Growth of the CBD retail sector is accelerating and we expect to show leadership in the space, said Simon Yu, CEO, Cannabis Strategic Ventures. Now that we have secured financing and a retail location, we will diligently work to procure the best CBD products available and prepare for our full brand roll-out and summer grand opening.
The retail market for CBD products is expected to reach $16 billion by 2015, a significant increase from an estimated $2 billion last year, according to leading cannabis investment bank Cowen Inc. Leading categories of this growth are nutraceuticals, tinctures, pain relieving creams and beauty treatments. Perhaps most compelling is that nearly 7% of the 2,500 individuals polled in Cowen's research indicated they had already purchased products containing CBD; an even larger percentage expect to purchase products in this class.
Amid this market growth, entering the CBD retail sector will be a strong addition to Cannabis Strategic Ventures' portfolio, which includes Asher House Wellness Pet CBD products; Fitamins, a proprietary health and wellness formula containing 25 mg of hemp-derived THC-free CBD; LYXR, a line of luxury skincare products derived from hemp CBD and other dynamic ingredients; PureOrganix, a line of high-quality organic cannabis concentrates; and Bud Hire, a staffing firm that allows cannabis entrepreneurs to outsource administrative and staffing functions.
While major CBD retailers have already announced plans to carry some of the products we currently do or intend to market, we believe CBD-centric retailers that provide educational component around CBD products will do exceptionally well. We plan to announce our full strategy to compete in this arena in the near future, added Yu. Read this and more news for Cannabis Strategic Ventures at: https://www.financialnewsmedia.com/news-nugs