- Harvest One’s (HVT) Dream Water brand has introduced its Sleep Gummies to the U.S. market
- The new product will hit distributors and grocery, drug and mass retailers (including Amazon) next month
- The company believes its entrance into a new functional format will grow its traditional distribution and retail channels
- Harvest One produces consumer packaged goods for the global cannabis market
- Harvest One (HVT) is unchanged trading at $0.09 per share
Harvest One’s (HVT) Dream Water brand has launched a new line of sleep gummies in the American market.
The new product will hit distributors and grocery, drug and mass retailers (including Amazon) next month.
Two gummies contain 135 mg of gamma-aminobutyric acid, 10 mg of L-5 hydroxytryptophan and 5 mg of melatonin.
The company believes its entrance into a new functional format will grow its traditional distribution and retail channels and improve overall channel penetration.
The U.S. had a gummy vitamins market size of US$2.3 billion in 2018, which is expected to generate revenues of US$3.45 billion towards the end of 2026, according to Allied Market Research.
North American sleep aid sales are expected to increase to over US$1.2 billion in the U.S. by 2024 and to US$120 million in Canada by 2023, according to Euromonitor International.
Gord Davey, President and CEO of Harvest One, stated,
“We are pleased to launch our Dream Water line of Sleep Gummies, which is a natural extension of our portfolio of health and wellness products, and a significant opportunity for us to grow our market share in the sleep aid market.
Our innovative Dream Water product and brand, with its differentiated market position, has resonated well with consumers and has established itself as a strong leader in the sleep aid category. We will continue to innovate, commercialize and educate the market on this category and look to build on this success in future years with new innovative product formats and line extensions.”
Harvest One produces consumer packaged goods for the global cannabis market.
Harvest One (HVT) is unchanged trading at $0.09 per share as of 2:00 pm ET.