- Branded cannabis products grew 637 percent more than non-branded products between 2014 and 2018
- Edibles continue to assure investors of stable market prices as compared to concentrates and flower products
- Plus Products anticipates enormous growth in production capacity as it constructs a large-scale manufacturing plant
Leading California edibles manufacturer Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) is making moves to dominate the branded cannabis industry through its continued focus on premium products executed with precision and made available to consumers everywhere.
The team at Plus Products realizes that the cannabis industry is moving toward branded products and sees brand strategy as key to accessing strong profit growth. In California alone, non-branded cannabis products grew by 64 percent between Q1 2014 and Q1 2018, while branded products saw retail growth of 701 percent in that same period. The company sees brand recognition as an integral component to its continued success in this market.
Looking forward, Plus Products is maintaining its focus on edibles, a segment that is on an upward trend. Between 2014 and 2018, the edibles market in Colorado alone rose from 12 percent to 16 percent of the cannabis space; in California, its market share rose from 13 percent to 16 percent between 2017 and 2018 (http://cnw.fm/xtLW9). In addition, the edibles price point has shown steady growth since 2014, while various other products, such as concentrates and flower, have shown a steep decline, clearly distinguishing edibles as a product type that could be worthy of long-term investment.
Notably, Plus Products was ranked as the number one edibles brand in California as of Q3 2018, according to data from both BDS Analytics and Headset, achieving impressive retail success in the world’s most competitive cannabis market (http://cnw.fm/aI7Ds). Currently, California offers the most competitive climate for cannabis companies, hosting almost 250 different edible brands while Colorado has less than 100. California is also the largest cannabis market worldwide, and it’s expected to grow to $5 billion in 2019 legal sales (http://cnw.fm/m8It8).
BDS Analytics and Headset also report that Plus Products’ unit sales have grown 97 percent from Q2 2018 to Q3 2018. Moreover, Plus Products anticipates the construction of “the largest food grade manufacturing plant in the state with room to expand,” enabling the potential for $450 million in production capacity (http://cnw.fm/T5my8). The company’s goal is to own the branded product space by pairing disciplined, agile food manufacturing with thoughtful branding teams.
For more information, visit the company’s website at www.PlusProducts.com
NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://cnw.fm/PLPRF
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