The global health industry is one of the biggest economies on the planet. The global wellness economy as a whole is currently worth more than $4.5 trillion, while the industry grows nearly 7% every year.
As more research is available on health products, and more competitive products enter the market, consumers are becoming more and more enamored with this sector of products. New health products enter the market left and right, and trends are emerging.
One trend that is on fire and shows no sign of slowing growth is the CBD industry. CBD has taken the health and wellness world by storm over the past few years, and has only continued to explode in popularity, both when it comes to consumption and production.
We wanted to highlight a leading CBD company, as consumer appetite for these health products grows. Thoughtful Brands is one of the leading producers of CBD products in North America and is in the process of expanding.
Here’s what you need to know about Thoughtful Brands.
What is Thoughtful Brands?
Thoughtful Brands produces a wide range of CBD products, which you’ve probably seen on store shelves before. But as the industry is growing, so is Thoughtful Brands, which recently announced that it is finalizing a deal to acquire American CBD Extraction Corp.
With this acquisition, Thoughtful Brands says it will be entering a new era, because it will have the ability to produce hemp extractions on its own. This will allow the company to ensure the highest quality of its CBD products, and be more confident than ever in its brands.
New operations with promising outlook
Under the new operations with American CBD Corp., Thoughtful Brands will start utilizing hemp-derived CBD extracted in their own operations. Thoughtful Brands says it will also be launching new CBD products of superior quality, made from the hemp they extract and produce at their own facilities.
Taking it a step further, Thoughtful Brands will also become a wholesale supplier of hemp biomass.
A trusted history in the CBD space
Aside from its ongoing expansion, Thoughtful Brands has already poised itself as a leader in the CBD market. Thoughtful Brands has distributed CBD and other natural health products in North America and Europe for years and is a leading provider of these products.
CBD is continuing to explode in popularity
The CBD industry is very popular now, but it’s only expected to grow in popularity. For example, the global CBD market has an expected growth of 30% for 2020-2024. Last year alone, CBD sales were about $5 billion, and by the year 2023, they’re expected to skyrocket to $23.7 billion.