Market research and consulting firm Global Market Insights said in a new report that the cannabinoids market value is projected to exceed $63 billion by 2030.
The company said the rise in the prevalence of Parkinson’s disease, muscle disorders, seizures, anxiety and more will drive the market demand. In addition, rising government initiatives to provide better health care, as well as consistent efforts by industry participants to harness innovative production technologies, will also help increase the product penetration of cannabinoids.
“The presence of a supportive regulatory landscape will play a key role in augmenting the cannabinoids market revenue, given the substantial increase in the number of cannabinoid product approvals in the last few years,” the company said in the report, Cannabinoids Market Analysis by Type, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030.
The company estimates that the Cannabigerol, or CBG, segment may register a CAGR of over 25% through 2030. This is credited to the product’s increasing availability and the rising number of new product variations introduced in the market.
LumiZen Wellness debuts pumpkin spice full spectrum CBD oil
One of the fall season’s most popular flavors, pumpkin spice, is now available as a scent in a new CBD oil from LumiZen Wellness.
“We all see the pumpkin spice craze happen every year, and within the CBD community there’s been a recent demand for pumpkin spice products,” said a spokesperson for LumiZen Wellness. “So, we took one of our best sellers and did the research and development needed to offer a full spectrum pumpkin spice tincture that can be enjoyed safely.”
Pumpkin spice products are popular during the fall months and can be found in such items as pumpkin spice lattes, pumpkin spice ice cream and pumpkin-flavored pet food.
The growing popularity of the CBD market is on a similar track, experiencing flourishing growth in recent years, the company said, which is why the brand has adopted the pumpkin spice craze with a special edition line of Pumpkin Spice 1,000 mg Full Spectrum CBD Tincture, which features the allure of pumpkin spice aroma and taste.
NuLeaf Naturals has introduced two new plant-based gummy products for consumers seeking wellness solutions.
The gummies, made from 100% plant-based ingredients, offer a full-spectrum CBD and a 3:1 full-spectrum CBD:CBN ratio, which contributes “to the brand’s goal of offering a wider range of products to both new and existing consumers,” according to the brand.
“We are excited to add gummies to our current portfolio of products,” said CEO Ian Kelly. “At NuLeaf Naturals, we are committed to creating safe, consistent and effective products, using third-party testing to ensure purity and potency in every bottle. We are confident that our two latest offerings will meet the rigorous standards we’ve set for ourselves and that our customers have come to expect.”
The full-spectrum CBD hemp supplement offers 30 mg per serving and comes in blueberry, lemon, strawberry and orange flavors, while the full-spectrum CBD:CBN is a 3:1 CBD to CBN ratio with 40 mg per serving in mixed berry and goji berry flavors and can be used as a natural sleep remedy.
“Desperate for a good night’s rest, more and more consumers have been turning to CBD and CBN gummies for their sleep problems — especially as natural wellness trends have increased since the pandemic,” the company said. “NuLeaf Naturals’ full-spectrum CBD:CBN gummies are some of the most potent gummies on the market, with each gummy containing 15 mg of CBD and 5 mg of CBN to help consumers snag some well-earned z’s.”
Coffee mate, Kahlúa roll out nonalcoholic coffee creamer
Coffee mate and Kahlúa have joined forces to launch a nonalcoholic coffee creamer.
The Coffee mate Kahlúa & Crème Flavored Creamer features notes of sweet cream, dark rum and roasted coffee, the companies said.
“Coffee mate and Kahlua are iconic brands with a similar fan base, so teaming up to create this creamer was a no-brainer,” said Leonardo Aizpuru, Nestlé senior director of brand marketing and leader of the creamer business unit. “We knew without a doubt this would be a collaboration, and decadent flavor, people would love — we’re excited to bring it to the creamer aisle and take fans’ coffee routines to the next level!”
Consumers can find the Coffee Mate Non-Alcoholic Kahlúa & Crème Flavored Creamer at retailers nationwide later this month in a 32-fl.-oz. size that retails for $4.39.
Reese’s continues to innovate its classic chocolate and peanut butter cups with a launch that features its signature cereal bites.
The Reese’s Big Cups Stuffed with Reese’s Puffs cereal features its classic peanut butter and chocolate with peanut butter and chocolate cereal pieces.
“Collaborations are quite popular, but what we are about to unleash is next level. We knew the ultimate mashup was already within the Reese’s universe, so we made it happen,” said Henry Hancock, senior associate brand manager at Reese’s. “We’re taking chocolate and peanut butter fandom to a new stratosphere by adding Reese’s Puffs cereal to our Reese’s Big Cup.”
Consumers can find Reese’s Big Cups Stuffed with Reese’s Puffs cereal at retailers nationwide beginning in November.
Nexxus caters to at-home styling with hair care launches
Nexxus is working to help consumers achieve salon-quality hair results at home with two new product launches.
The latest in hair care from the brand includes:
Keraphix Damage Repair Treatment Cream: A reparative fiber bonding cream that works to repair and prevent split ends. It provides heat protection, reduces unwanted frizz and aids in speeding up blow dry time. Its unique bonding technology strengthens hair, leaving it shiny, soft and appearing healthier; and
Humectress 360 Perfector: A light, moisturizing leave-in that aids in renewing any hair texture. This multiple-benefit cream also provides a premium 20-benefit formula that will leave hair revived and silky, with improved elasticity and preservation of natural proteins.