- Flora Growth Corp. is a Canadian cannabis and wellness brand distributor operating from a cultivation base in central Colombia
- The company’s focus on sustainability guides its efforts to market products that are beneficial to their local communities as well as the world at large
- Market analysts predict 2022 will see the global CBD skin care market segment alone grow with a CAGR of 24.8 percent
- The COVID-19 pandemic is continuing to drive expansion of online retail that affects the cosmetics sector as well as clothing, groceries and other avenues that may include the more-than-190 cannabis-derivative products produced by Flora Growth
Plant-based wellness and lifestyle collective Flora Growth (NASDAQ: FLGC) is entering 2022 with momentum from the past year’s aggressive growth campaign for its global cannabis-derivative brand distribution of pharmaceuticals, cosmetics and nutraceuticals.
While industry news has largely focused on M&A activity and questions about when the United States may grant federal legalization of cannabidiol (“CBD”) following the advance and then defeat of supportive banking measures in 2021, Canada-based Flora has been completing agreements with partners in numerous countries to expand its verticals from their cultivation origins in central Colombia.
The COVID-19 pandemic has had a deleterious effect on the global sustainability agenda. An oil price crash made petroleum sources more attractive than alt fuels, the supply and demand of commodities faced challenges that drove price volatility, and seasonal reduction of infection levels has produced a renewed spike in environmental pollution (https://cnw.fm/rFg3z).
Flora Growth has prioritized value-chain sustainability among each of its brands, acting at a local level to establish products that will have a beneficial effect on communities and the world at large under its guiding principles.
Flora’s core product, organic cannabis oil, comes from an inherently natural and sustainable process at the company’s cultivation site in central Colombia, where all-outdoor production is fueled by 12.5 hours of natural sunlight per day and natural water springs. A pesticide-free agronomic management system tailored to the area’s climate and condition further ensures a natural quality to the products.
The Cosechemos Cultivation Facility includes a research and development lab set on a 100-hectare (247-acre) property. The company recently began filling the initial orders for its Mind Naturals and Awe CBD skincare brands in Spain and Mexico (https://cnw.fm/zF3K2). They expect to begin a distribution of medical cannabis products throughout Europe during the coming year thanks to a pathway established through an investment program with European Union GMP partner Hoshi International Inc. (https://cnw.fm/1bAWC).
European and Latin American markets for cannabis-derivative products are growing, and analysts at Allied Market Research issued a forecast shortly before Christmas that envisages the global CBD skin care market segment alone to grow from $633.6 million in 2018 to $3.48 billion by 2026 with a CAGR of 24.8 percent (https://cnw.fm/3Z4v0).
“After months of preparation, our products meet all the needs of today’s consumers, and we are ready for new international markets. … Incorporating cutting edge formulations, rigorous safety standards and sustainable packaging, we are confident that our products are positioned to be among the best in the beauty industry,” Flora Beauty General Manager Andrew Restrepo stated when the Mind Naturals and Awe CBD orders were announced.
The advance of Flora’s cosmetic brands builds on e-commerce agreements with SHOWFIELDS and GlossWire’s digital beauty marketplace, which were established in October. The Allied Market Research report anticipates growth in the e-commerce segment with a CAGR of 27.4 percent by 2026 as consumers increasingly turn to online access and distribution portals to receive products at their doorsteps.
Forbes predicts that 2022 will “bring a digital revolution to retail” as department stores, chain stores and even grocery retailers see spiking sales figures in their internet sales, and CBD-based cosmetics are expected to ride that trend (https://cnw.fm/S9o6n).
For more information, visit the company’s website at www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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