Ask Our Experts 10/23/19: What are the top CBD companies on the market?
Q: What are the top CBD companies on the market?
A: In a crowded market like the CBD space, it can be challenging to say exactly who is the top-dog of CBD. But based on revenue and market penetration, here are four companies that we believe deserve to be considered leaders in the CBD market.
Charlotte’s Web Holdings
Charlotte’s Web Holdings (TSE: CWEB) is one of the more high-profile manufacturers of CBD oil and supplements in the U.S. Featured on Sanja Gupta’s CNN documentary, Weed, Charlotte’s Web was initially a medical cannabis company but quickly pivoted to producing hemp-derived CBD. In 2018, the company reported annual revenue of $69.5 million. The company possesses a significant retail footprint, with products in stores such as Vitamin Shoppe, Kroger, and Lucky’s Market.
Though CV Sciences (OTCMKTS: CVSI) may not be the most famous CBD company in the world, it has been rapidly keeping pace with its competitors. Specializing in CBD oils and tinctures, the company reported annual revenue of $48.2 million in 2018. Like Charlotte’s Web, CV Sciences has signed distribution deals with companies like Kroger and Vitamin Shoppe and is continuing to expand its retail footprint.
While GW Pharmaceuticals (NASDAQ: GWPH) does not exclusively sell CBD products, the company has staked much of its future on the success of its flagship CBD-based drug Epidiolex. As the first company to earn FDA approval for a CBD-based drug, GW Pharmaceuticals has been raking in the profits. In the second quarter alone, the company made $72 million, most of which came from sales in Epidiolex. Given that Epidiolex has been approved for use in the European Union, expect to see GW’s revenue to continue to rise.
MedTerra is somewhat of a dark horse in the CBD market. Unlike the other CBD companies listed here, MedTerra is not a publicly held company and has received little attention in the press. Nevertheless, the company has made significant inroads in the e-commerce and retail sector and has signed distribution agreements with national chains like CVS, Walgreens, and Albertsons.