Cresco Labs., EcoGen Biosciences, Canopy Growth Corporation are dominating the U.S. Cannabidiol (CBD) Market in 2022

The U.S. Cannabidiol (CBD) Market is expected to grow with a CAGR of 28.6% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.

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The U.S. cannabidiol (CBD) market is a highly consolidated market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to a favorable market scenario.

The major players dealing in the U.S. cannabidiol (CBD) market are introducing a strong range of products. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • In March 2022, Cresco Labs and Columbia Care Inc. entered into a definitive arrangement agreement to acquire all of the issued and outstanding shares of Columbia Care. Under the terms of the Agreement, shareholders of Columbia Care will receive 0.5579 of a subordinate voting share of Cresco Labs for each Columbia Care common share.
  • In March 2022, Cresco Labs launched its three brands named High Supply, Good News, and Remedi in Florida. The Company also released a new edibles brand, Sunnyside Chews, available only in the state. Cresco Labs also expanded to Florida its premium craft-quality flower brand, FloraCal Farms, and bestselling flagship brand, Cresco. This will boost the company's overall sales.

Cresco Labs

Cresco Labs is headquartered in Illinois, U.S. as a public ownership. The company focuses on cultivation, manufacturing, extraction, and packaging of cannabis. It has several brand categories which are Cresco, Cresco Reserve, High Supply, Mindy's, Good News, Remedi, Wonder Wellness Co., FloraCal Farms, Sunnyside, out of which High Supply, Mindy's, FloraCal Farms are focused category. The company has global presence across North America. Company have subsidiaries which are Cresco Yeltrah, LLC (U.S); Phoenix Farms of Illinois, LLC (U.S.); PDI Medical III, LLC (U.S.); Bluma Wellness Inc. (U.S.); Cultivate Holdings, LLC (U.S.); among others

  • In March 2022, Cresco Labs and Columbia Care Inc. entered into a definitive arrangement agreement to acquire all of the issued and outstanding shares of Columbia Care. Under the terms of the Agreement, shareholders of Columbia Care will receive 0.5579 of a subordinate voting share of Cresco Labs for each Columbia Care common share.

EcoGen Biosciences

EcoGen Biosciences headquartered in Colorado, U.S. as private ownership. The company focuses on CBD manufacturing, and supplying of specialty hemp derived ingredients. The company have product which are CBD Distillate, CBD Isolate, Water Soluble CBD, CBG Isolate, CBN Isolate, Finished Goods out of which CBD Distillate, CBD Isolate are market focused product The company has wide global presence across North America, Europe, Asia-Pacific, Middle East and Africa.

  • In January 2022, EcoGen Biosciences achieved a certificate on the ISO 9001 – 2015 quality standard for their manufacturing process from the Internal Organization of Standards. It has also received BRC Global Standard Certification. This will greatly enhance the company's image in the CBD market.

Canopy Growth Corporation

Canopy Growth Corporation Incorporated is headquartered in Ontario, Canada public ownership. The company focuses on the manufacturing of best-in-class cannabis with personal health and wellness. The company have business category which are Global Cannabis, Other Consumable Products out of which Global Cannabis are focused business category. The company have several product categories which are First + Free, Martha Stewart, Quatreau, SurityPro, out of which First + Free, Martha Stewart are focused product category. The company has wide global presence across North America, Europe, Asia-Pacific, Middle East and Africa. Company have subsidiaries which are Tokyo Smoke (Japan); Spectrum Therapeutics (Canada); STORZ & BICKEL GmbH & Co. KG (Germany); THE SUPREME CANNABIS COMPANY INC WS (Canada); AV Cannabis Inc. (Canada); among others

  • In March 2022, Canopy Growth Corporation's Martha Stewart CBD did an expansion and flavor innovation within its growing CBD portfolio – Tropical Medley CBD Wellness Gummies. This new product offering features three brand-new flavors inspired by the lush fruits of tropical destinations – Alphonso Mango, Coconut, and Pineapple. These new product launches will help the company cater to more consumers in the region.