Monthly Extracts Newsletter
Edition 11 – March 2021
Cannabinoid 2021 Trend Report + Brands That Are Paving the Way
March 4, 2021 – 8 min read
Author: Nicole Brown, CRO
Groundbreaking advancements have dominated the cannabinoid market over the past decade with some of the industry’s largest brands seeing double-or triple-digit year-over-year growth.
Although constant growth has been the theme of this past decade, constant change now defines it. And there’s plenty of that ahead in 2021. From exciting newcomers to established powerhouses, OBX sees more and more brands taking a valiant, intelligent approach to product development. Here are the most watch-worthy trends for cannabinoid products this year, along with the trend-setting brands that are blazing the trail.
Groundbreaking advancements have dominated the cannabinoid market over the past decade with some of the industry’s largest brands seeing double-or triple-digit year-over-year growth.
Although constant growth has been the theme of this past decade, constant change now defines it. And there’s plenty of that ahead in 2021. From exciting newcomers to established powerhouses, OBX sees more and more brands taking a valiant, intelligent approach to product development. Here are the most watch-worthy trends for cannabinoid products this year, along with the trend-setting brands that are blazing the trail.
Industry News & Education
Travis Barker’s Entrance Into the Cannabinoid Category
Barker Wellness launches this week with products targeting three main areas of focus: sleep, maintenance, and recovery.
The product lineup includes THC-free tinctures, a pain relief cream, and “snap packets” (think pre-measured tinctures in individually wrapped squeeze packages) designed to be used on their own, or simultaneously.
Open Book Extracts Appoints Four New Strategic Corporate Advisors
These newly-appointed advisors are respected experts in their fields with experience as researchers, executives, and entrepreneurs.
David Wood will serve as nutraceutical advisor, Dr. Jeffrey Dover, MD, FRCPC, and Dr. Michael Singer, MD, PhD, will serve as cosmeceutical advisors, and Dr. Robert J. Silver, DVM, MS, will serve as veterinarian advisor.
Kristen Bell’s CBD brand ‘Happy Dance’ set to launch at Ulta
As CBD infiltrates the beauty mainstream, Kristen Bell’s new body-care brand Happy Dance makes its retailer debut at Ulta Beauty next week. On March 5, Happy Dance will become available on Ulta.com, and in 101 physical Ulta stores on March 7.
As part of the beauty retailer’s Sparked program for up-and-coming brands, the colorful CBD brand will be featured in the retailer’s in-store Sparked displays at the initial locations, and begin expansion to 550 Ulta locations on March 15.
Open Book Extracts: Innovating for Tomorrow’s Market
In a recent interview with Nutracueticals world, Dave Neundorfer discusses OBX’s approach and strategy in the cannabinoid ingredients market. Dave shares OBX’s commitment to ‘investing heavily in research that will enable OBX to match compounds such as ingredients, formulations, and finished goods to conditions and specific need states that include pain, anxiety, sleep, skin irritation, and metabolic issues.’
What Is Delta – 8 THC & Why Is This Hemp Derivative So Hot?
The New York Times recently released an article on Delta-8 THC, one of the fastest growing ingredient segments in the hemp-derivative market, which is currently expected to be driving over $10M in consumer sales.
Cannabinoids & The Pet Market
Over the next 7 years, the CBD pet category is expected to produce and astonishing compound annual growth rate of +40% and reach more than $399M by 2027. In this blog we dive into some of the scientific literature that shows how cannabinoids can support the wellbeing of pets.
