The coronavirus pandemic has undoubtedly changed the way that many businesses do business. It has even stopped many businesses from doing business altogether.
While some CBD-related businesses were forced to close during social distancing measures, others were rapidly evaluating new opportunities to capitalize on the situation like selling high-demand products like hand sanitizer and more.
According to a recent research report from Grand View Research, the global hand sanitizer market was valued at $2.7 billion USD in 2019 and is expected to grow at a compound annual growth rate of 22.6% from 2020 to 2027. Combine that with the CBD industry, which was valued at $4.6 billion USD in 2018 and is expected to grow at a CAGR of 22.2% until 2025, and you’ve got a massive potential for product sales.
Out of the hundreds of cannabis-related stocks we track, there have already been at least seven different CBD stocks that announced sanitizer-related products or ventures. In alphabetical order, here they are:
CBD of Denver, Inc., a small CBD and hemp oil company, recently announced the product release of their Black Pearl CBD Hand Sanitizer.
EastWest Biosciences Inc., a vertically-integrated hemp and CBD company recently announced that their manufacturing subsidiary, Orchard Vale Naturals, received additional Health Canada approval for hand sanitizer.
Emerald Organic Products, Inc., a self-described “diversified health sciences and technology company,” recently announced that it had successfully completed a product pilot for a hand sanitizer product, and sold out thousands of bottles within one week of launch.
Findit, Inc., Nevada-based owner of the site UrbanCBDCollective.com, recently announced that it now offers hand sanitizer through UrbanCBDCollective.com, and that it also purchased 2 domains – KillerHandSanitizer.com and KillItHandSanitizer.com. The domain names were secured to explore the option of building out its own brand.
Future Farm Technologies Inc. and High Purity Natural Products, LLC recently announced that on May 27, 2020 the parties signed a Letter of Intent to merge, noting High Purity Natural Products’ “brilliantly executed reaction to customer demand for hand sanitizer products.”
Hemp Naturals Inc., another small hemp and CBD company recently announced that it had recently launched an all-new line of hand sanitizers in the market.
Primo Nutraceuticals Inc., a hemp and CBD company focused on both Canada and the United States, recently announced that it had received approval to sell their hand sanitizer on Amazon.
While we all hope that the COVID-19 pandemic subsides as quickly as possible, it is likely that constant hand washing and sanitizing efforts will be here to stay. As for CBD, the growing pile of evidence pointing to its potential health benefits has already built up a loyal consumer base that won’t be going anywhere.
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