HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness Company offering premium probiotic supplements and products containing CBD, is pleased to announce the launch of HempFusion Ingestible and Topical CBD products into nearly 50 retail locations of a major Arizona grocer.
According to Brightfield Group, the grocery channel will be the fastest growing channel for CBD products between 2021 and 2026. In 2021, CBD sales in this channel are expected to grow to $165 million, up 151% from 2020, and forecast to reach $769 million in 2026.
With products already available across the state, Arizona consumers have more than 20 HempFusion SKUs to choose from, including USDA Organic Certified Tinctures, Sleep and Stress Support Capsules, delicious Summer Cherry and Elderberry Gummies, and a variety of best-in-class over-the-counter (OTC) Topicals. In addition, four SKUs of HempFusion’s wholly-owned subsidiary, Sagely Naturals, are on store shelves, including Relief & Recovery Cream, Active Roll-On, and Extra Strength Spray.
“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,” said Jason Mitchell, N.D., HempFusion‘s Co-Founder and Chief Executive Officer. “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. Total store count for our products across the US is climbing, now exceeding the 15,000 locations we had communicated previously, and we expect to provide additional details about our brick & mortar progress with the release of our third-quarter financial results scheduled for mid-November,” continued Dr. Mitchell.
