While cannabis giants appear to be struggling to tread water CBD companies are experiencing massive success. Industry giants like Canopy Growth and Aphria are struggling to find their feed in an increasingly crowded market but more agile CBD companies, like Veritas Farms, Inc. (OTC:VFRM), are generating impressive growth.
The CBD sector is set to grow faster than the general cannabis sector
The CBD sector has one significant advantage over the general cannabis sector, it is incredibly easy to sell. Whilst recreational and medical cannabis is generally subject to strict regulations, and is often illegal, the regulations surrounding CBD are comparatively liberal and Hemp-Derived CBD is legal in all of North American and the majority of Europe.
This goes some way to explaining why CBD companies have been able to prosper despite a crowded market place and traditional cannabis producers have been struggling. In Canada the total tracked inventory in August was 30 times larger than the amount of cannabis sold. This problem is exacerbated by global competition and a lack of realistic export markets for THC containing medical or recreational cannabis. Producers like Canopy Growth and Aphria have suffered and price drops are all-but inevitable at this point.
In comparison the Farm Bill passed in 2018 all-but legalized CBD at a federal level in the United States. This has opened up a huge market for full-spectrum-hemp products, which also have a significant potential marketbase in Europe and some parts of Asia. CBD producers have been able to largely avoid the problems currently plaguing THC cannabis producers.
Veritas Farms continues to break growth records
Veritas Farms, inc. (OTC: VFRM) produce full-spectrum-hemp products for a variety of different purposes. The company controls their own supply-chain and focuses on transparency and quality as cornerstones of their overall brand. This approach appears to have paid off and the company has seen significant success over the past year.
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In its latest Press Release Veritas Farms has announced record growth figures. The company has cultivated quarter on quarter growth of 165% compared to last year and has generated $5,712,085 so far this compared to $1,277,914 in 2018, that’s a growth rate of 347%.
Perhaps the most interesting aspect of this release is the fact that the company has managed to significantly increase its profits over the last year, the company