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Medical Marijuana Inc (OTCMKTS: MJNA) New Product To Complement Product Line

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Medical Marijuana Inc (OTCMKTS: MJNA) is one of the key producers of cannabis-based nutraceutical products, announced that its subsidiary HempMeds, launched a new product, “broad-spectrum cannabidiol (CBD)-infused gummies,” that complement its existing product line.

Focus on meeting customer requirements: As per the company, the cannabis market is evolving, and the customer preferences and requirements. To grow with the cannabis market, the company recently released its new products, “broad-spectrum cannabidiol (CBD)-infused gummies,” which meet the growing demand and fulfill customer requirements. As per Medical Marijuana, these gummies are vegan, gluten-free, and come in three different flavors: strawberry, lime, and orange. Each bottle consists of 1,200mg of CBD (Cannabidiol) broken down into 60 20mg pieces. Further, these gummies consist of oil and natural fruit flavor ingredients.

CBD market expected to grow at 30.7%: There are various industry reports on the evolving cannabis market, estimating its growth and uses. As per GrandView Research, the CBD market size globally in 2020 was valued at $1.6 billion. GrandView expects the industry to grow at 30.7% CAGR (Compounded Annual Growth Rate) during the 2021-2028 period. Medical Marijuana also reiterated the strong growth in the industry. The CBD gummies’ popularity has grown in the recent past. In addition, the industry is growing higher than the expected levels. To capture the market size and growth opportunity, the company manufactures high-quality and safety standards products. Further, instead of making them with cannabidiol (CBD) isolate compared to many of their competitors, the company made its product with high-quality, broad-spectrum CBD. 

HempMeds, a subsidiary of Medical Marijuana, was the first company (as per the company) to launch CBD oil products in Brazil, Mexico, and the U.S. The company is one of the leading players in sourcing the highest-quality cannabis products derived from industrial hemp. Further, it is the only company to have its Cannabidiol products listed in the PDR (Prescribers’ Digital Reference) category and certified by the U.S. Hemp Authority. To have its products listed in the PDR category and certified by The Hemp Authority signified the quality standards and methodology used by the company to manufacture gummies. The company continuously focuses on meeting customer requirements, enabling them to launch new products or modify the existing product that complements its existing product line.

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