- Canopy Growth (TSX:WEED) is debuting a new line of Martha Stewart CBD gummies set to benefit from an ongoing consumer shift from recreational to cannabis wellness solutions
- The sleep, stress and aches & soreness-focused solutions coincide with data from Deloitte showing that up to 70 per cent of Canadian cannabis enthusiasts use it for health and wellness
- Canopy Growth is a North American cannabis and consumer packaged goods company
- Canopy growth stock (TSX:WEED) has fallen by 84.33 per cent year-over-year and by 98.38 per cent since 2018
Canopy Growth (TSX:WEED) is debuting a new line of Martha Stewart CBD gummies set to benefit from an ongoing consumer shift from recreational to cannabis wellness solutions.
The new line of needs-based high-CBD gummies focuses on sleep, stress, and the discomfort of aches and soreness, and it was created in response to consumer demand for more targeted solutions in partnership with Marquee Brands, a well-known global brand accelerator that owns the Martha Stewart brand.
Martha Stewart CBD’s new needs-based gummies
- Sleep CBD Gummies: A berry medley with notes of Montmorency cherry, elderberry and boysenberry
- 25 mg CBD: 3 mg Melatonin
- 60 ct – $59.99 MSRP
- Chill CBD Gummies: A citrus-forward concoction of tangerine, yuzu and pomelo
- 25 mg CBD: 50 mg L-Theanine
- 60 ct – $59.99 MSRP
- Extra-Strength CBD Gummies: An orchard-inspired blend of pluot, apricot and California red peaches
- 30 mg CBD
- 60 ct – $59.99 MSRP
“I’m often asked how I maintain my energy with such a busy schedule, and for me it’s essential to start each day well-rested, unbothered and pain-free,” Martha Stewart, the home and lifestyle icon, said in a statement. “I discovered CBD several years ago as a simple, effective, and natural solution to help address the discomforts of everyday life. Having benefited greatly from it myself, I set out to create a delicious and premium line of gummies that taste as good as they make you feel.”
“As consumers focus on finding the ways to feel their best, CBD use continues to grow, fueled by categories like gummies that have become an integral part of wellness routines,” added Tara Rozalowsky, chief growth officer and president, international, Canopy Growth. “Martha Stewart is a trusted household name because people of all ages turn to her for candid advice and simple, sensible solutions to everyday problems. The new Martha Stewart CBD needs-based gummies deliver just that – accessible, reliable relief when and where you need it most.”
Health and wellness is driving Canadian consumer cannabis growth
Canopy’s association with the Martha Stewart brand, which reaches around 100 million consumers each month, grants it a leadership position in the documented consumer shift towards cannabis wellness products.
According to data from Deloitte, up to 70 per cent of Canadian cannabis enthusiasts use it as a health and wellness solution, with a separate Harris poll showing relaxation (52 per cent), sleep (49 per cent), stress (44 per cent), anxiety (41 per cent) and medical symptom relief (33 per cent) as the most common uses.
This consumer trend aligns with the widening availability of cannabis products under government and employer health plans, and ongoing governmental studies trending towards regulated over-the-counter (OTC) sales of cannabis health products.
Although Canadian pharmacies cannot currently sell cannabis flower or derivative OTC products that make a health claim, the vast majority of consumers are voting with their wallets in favour of cannabis for relief over recreation. This has opened a door for companies to capitalize on synergies between cannabis and the health & wellness space to establish enduring brands.
Canopy Growth is a North American cannabis and consumer packaged goods company. Its brands include Doja, 7ACRES, Tweed, Deep Space, This Works, Martha Stewart CBD and Storz & Bickel.
Canopy growth stock (TSX:WEED) last traded at C$0.73 per share. The stock has fallen by 84.33 per cent year-over-year and by 98.38 per cent since 2018.
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