The cannabis industry is projected to reach $66.3 billion by 2025, according to Grand View Research, representing a blistering 23.9% compound annual growth rate. While medical and adult-use cannabis capture the headlines, cannabinoid-infused topicals, tinctures and capsules could become some of the fastest growing subsets of the market. Investors may want to take a closer look at this potentially-lucrative corner of the market.
The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (Frankfurt: YG3), a health and wellness focused developer of cannabis products, recently secured final packaging approvals from the Oregon Liquor Control Commission (OLCC) for six new THC- and CBD-infused topicals and tinctures to be marketed under the Wright & Well brand.
Let’s take a look at the rise of cannabis topicals and tinctures and why the OLCC’s approval of six new products could be a transformative event for Yield Growth and its shareholders.
The Rise of Topicals & Tinctures
There are a growing number of cannabis consumption methods and each has its own set of benefits and drawbacks. For instance, cannabis topicals are reshaping the accessibility, safety, and efficacy of cannabinoid consumption and opening the market to consumers that wouldn’t otherwise realize the benefits of cannabis. Tinctures similarly provide an easier and more convenient way to consume cannabinoids without smoking, edibles or beverages.
Topicals have become popular for localized pain relief, muscle soreness, tension and inflammation, but emerging science shows potential benefits for psoriasis, dermatitis, itching, headaches, and cramps. They’re a go-to solution for many consumers that want to experience less pain following an intense workout or attempt to reduce their use of prescription pharmaceuticals to treat arthritis pain.
Tinctures are alcohol-based extracts that were the primary form of cannabis medicine in the United States until cannabis prohibition. The combination of easy self-titration and a long shelf life makes tinctures one of the most convenient ways to consume cannabis. Consumers don’t have to worry about product going bad — as is the case with many edibles and beverages — or having to smoke cannabis to realize the benefits.
Six New Products Approved in Oregon
Yield Growth recently secured final packaging approval from the Oregon Liquor Control Commission, or OLCC, for six new THC- and CBD-infused topicals and tinctures to be marketed under the Wright & Well brand. With the approval in place, the company will begin distributing the products through Nova Paths — an Oregon-based cannabis licensed distributor with relationships with over 400 licensed cannabis retail stores.
“The OLCC packaging approval is one of the most rigorous processes to complete before products can be legally manufactured and sold in Oregon,” said Yield Growth CEO Penny Green in a recent press release announcing the approvals. “Now that we have successfully completed the process, we have cleared the final hurdle, and we expect manufacturing to be complete in early July, and sales to begin at the end of July.”
The company’s six products include:
- Be Chill Tincture (THC: Purple Hindu Kush, CBD: hemp source)
- Be Better CBD Tincture (CBD: hemp source)
- Be Better CBD Extra Strength Tincture (CBD: hemp source)
- Be Relieved Pain Gel (THC: Purple Hindu Kush, CBD: hemp source)
- Be Free Pain Balm (THC: Purple Hindu Kush, CBD: hemp source)
- Be Loved Massage Oil (THC: Purple Hindu Kush, CBD: hemp source)
The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (Frankfurt: YG3) is well positioned to capitalize on rising demand for THC- and CBD-infused topicals and tinctures in Oregon’s burgeoning market. With sales expected in July, investors may want to take a closer look at the company as it moves further out of its development stage and into its commercialization stage in the massive cannabis wellness subsector.
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