Leading cannabis producer Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY) has released a new CBD brand aimed at wellness and sold on the largest online shop worldwide.
On Thursday, the company announced its new brand POLLEN will have CBD gummies and drinks under three brand lines and will be sold via Amazon UK Services Ltd. the subsidiary of Amazon.com, Inc. (NASDAQ:AMZN).
Powerbank will promote a natural energy boost, while No Pressure aims to soften the pressure of everyday stresses and restore the body’s natural bounce. The third line, Soothe You, is aimed at mind and body balance. Each POLLEN product is formulated with CBD and a range of flavorful and vegan-friendly ingredients that simply taste and feel good.
The CBD gummies have a total of 300 milligrams of CBD per pack and are independently tested for accurate dosage.
Read more: Tilray Q3 revenue dips 2% to US$151.9M
According to industry reports, the CBD market will reach billions in the upcoming years.
A report by Global Market Insights, the CBD market is expected to reach US$56.2 billion in global sales revenue by 2028. It also found that the increase will be driven by the increasing awareness of CBD-based products as an alternative to traditional pharmaceutical drugs.
A different report by the analytics firm Research and Markets, the CBD gummies industry was valued at US$2.1 billion in 2021 and set to reach US$12.1 billion by 2028.
The report also found that North America holds the largest market share of the global CBD gummies market in 2020 but Europe is projected to register the fastest growth up until 2028 due to a significant concentration of cannabis consumers.
According to Research and Markets, the leading players in the CBD gummies market include Aurora Cannabis, Inc. (TSE: ACB) (Nasdaq: ACB) whose stock went up by 2.77 per cent to $3.57 on the Toronto Securities Exchange.
It also includes Canopy Growth Corp. (TSE: WEED) (Nasdaq: CGC) whose stock went up on Thursday by 8.31 per cent to $6.98 on the Toronto Securities Exchange.