Major companies are beginning to consider the importance of CBD in their products to promote an effective and natural alternative for today’s products. CBD is set to help many consumers, and will not have any adverse effect on its users because the ingredient does not have any of the addictive components which concerns many.
Europe is set to see a significant change in how their sleep care and cosmetic products will look. Although the European market is no stranger to CBD-infused products, the latest acquisition in today’s news will be a leg up for the future of CBD.
This Works, a UK skin-care brand, will be acquired by Canopy Growth Corp this year, for £43 million, or approximately $54 million. This Work is a company based in London, which was founded in 2004. Like Canopy, This Work sold products to help sleep such as their pillow sprays. However, it isn’t infused with CBD. Canopy Growth is one the largest cannabis producers in the world, and their purchase is one of many recent moves to expand into Europe.
The sale opens a bright future for Canopy, as well as CBD users. The company will be able to create and launch various products which are infused with CBD, ranging from CBD skin care up to sleeping aid products. The products aren’t limited in Europe, and the global market is expected to see these products to be sold in the market. Canopy recognizes the potential of CBD as one of the primary and prime ingredients for its products. In terms of the product safety, Canopy has guaranteed that CBD is an ingredient which won’t make its users high. It is safe for use, and it can be sold in the UK as well as the global market.
CBD is booming in the UK. There is a lot of potential for growth and expansion for Canopy in the UK. Many consumers in the UK have been purchasing products which contain CBD, and these are available in many groceries and department stores. By 2025, research shows that products containing CBD will increase to £12.5 billion across the world.
Most importantly, Canopy’s latest acquisition will have an essential role in for the company Smiths Falls. Smiths Falls is accompany based in Ontario, which will be an essential ally in Canopy’s Europe expansion, as well as its introduction to the health industry. Moreover, the companies have already been collaborating with a research organization based in Oxford, England. The research organization has already been doing trials regarding the use of cannabis.
The forecast shows that in the UK, the annual sales on legal pot will reach approximately $800 million only within 5-years. Bruce Linton says, “We believe CBD has the potential to disrupt the cosmetic and sleep-solution industries and have been working for years to build and establish the right entry point into this opportunity.”