The cannabidiol craze won’t stop anytime soon. Also known as CBD, the chemical has become extremely popular in the medical, sports, health and wellness communities. CBD is extracted from hemp, and like most of the cannabinoids produced by hemp, it is a potent medicine.
In cannabidiol’s case, users have found it effective against a variety of ailments ranging from chronic pain and high blood pressure to anxiety and insomnia. Last year, the U.S. Food and Drug Administration (FDA) approved a CBD-based drug to treat seizures caused by two rare pediatric epilepsies, Dravet Syndrome and Lennox-Gastaut Syndrome.
With just a year of legal sales under its belt, the CBD industry is already worth millions in sales, and experts estimate it will be worth billions by 2024.
With the right tools, CBD can be infused in a lot of products, and this has resulted in a market filled with CBD-infused tinctures, oral sprays, edibles such as gummies, and topical creams. This versatility has allowed companies from a range of industries to integrate CBD into their product lines.
Oral care brand Colgate is one of the latest entrants into the competitive CBD sector. The brand announced that it had acquired Hello Products LLC in January, and this month, launched a collection of CBD oral care products.
Hello Products was founded in 2015 by Craign Dubitsky, and by the end of 2019, the company was selling toothpaste, mouthwash and dental floss made with hemp seeds oil.
“We have great respect for the Hello team and their impressive product line, and value the strong connection they have made with younger consumers. With its distinct on-trend positioning, Hello is a terrific complement to our Colgate and Tom’s of Maine brands and we look forward to supporting its continued growth and success,” says Colgate President and CEO Noel Wallace.
The new CBD product line includes a collection of oral care products like fluoride and fluoride-free toothpaste, CBD mouthwash, and CBD lip balms. Dubinsky states that, “At Hello, we are proud to thoughtfully source innovative ingredients that our brushers seek, and deliver them in ways that continue to surprise and delight.”
“What started as an oral care line is now evolving into a naturally friendly personal care company. We’re confident that we can provide a wide range of delicious tasting, highly effective products that our retail partners and their shoppers can fall in love with, and that elevate every day,” Dubinsky added.
Such diversification to the ways in which CBD can be used is likely to be a breath of fresh air to sector players like MCTC Holdings Inc. (OTC: MCTC) who foresee a future in which CBD is an integral component of every aspect of life as we know it.
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