NutraLife Accelerates Expansion into the Rapidly Growing $11 Billion CBD Industry
January 10th, 2022
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CBD has become one of the fastest-growing wellness products globally, reaching more than $11 billion in global sales last year. According to Market Data Forecast, these sales will continue to grow at a 22.2% annual pace to nearly $31 billion by 2026. As a result, companies building an early presence in the industry could be in a great position to profit.
NutraLife Biosciences Inc. (OTC Pink: NLBS) began expanding into hemp-derived CBD in 2018. Since then, the company has built up a vertically-integrated presence in the CBD industry with experience growing in Wisconsin, partnerships with geneticists and master growers of high-quality indoor organic hemp flower, cGMP manufacturing facilities in Florida, and a growing list of in-house and private-label CBD brands.
In this article, we’ll look at the company’s CBD footprint and its recent progress to expand into the rapidly growing industry.
NutraLife Bioscience’s subsidiary, PhytoChem Technologies and its partners, cultivate, harvest, process, and distribute high-quality hemp flower. The company’s cultivation partners are based in Wisconsin, where they have hemp licenses from the Department of Agriculture.
Currently, the company offers 13 different core formulations and 50 variations of those formulations for private label customers, including CBD-infused oral sprays, tinctures, pet drops, pain balms, and face creams. The company also offers a range of non-CBD products, including anti-bacterial sprays and gels, immune supplements, and bug patches.
From Private-Label to Brands
NutraLife Biosciences recently partnered with KOR Medical to develop a line of CBD-infused wellness products. In December, the company completed an initial order for four ingestible products, including KOR Calm, KOR Health, KOR Relief, and KOR Sleep, which are already for sale to consumers on KOR’s online platform.
NutraLife’s private label items are already for sale on KORMedical.com. Source: KOR Medical
Through these kinds of agreements, the company could generate recurring revenue from repeat contract manufacturing. The company is also leveraging its experience launching and distributing products to expand its own product lines, including a cannabinoid infused beauty and wellness product line.
Finally, the company’s scientists are constantly pushing the envelope when it comes to innovative delivery systems. For instance, its INVISIPATCH is a bug patch technology designed to deter mosquitoes and other biting insects. The company also developed an antiseptic spray for export to Indonesia to minimize viral loads in the mouth.
NutraLife Biosciences Inc. (OTC Pink: NLBS) has spent the past couple of years building a compelling presence in the CBD business with multi state resources including Wisconsin and manufacturing facilities in Florida. In addition to building out its CBD business, the company continues to push the envelope with new products in diverse sectors.
For more information, visit the company’s website or download their investor presentation.
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