Puration is optimistic it will achieve its set revenue targets for 2019 and 2020. The company had set the target for 2019 at $4 million and for 2020 at $8 million. The CBD beverage market has, over recent years, showcased significant potential and is one of the fastest-growing segments globally. Analysts project that by the time 2023 arrives, it will have hit the $1.4 billion mark.
The reason why Puration is optimistic
Several reasons have been inspiring the company to do better and even hope for increased outcomes. One of them is the fact that the company has recently made a significant number of acquisitions. The second point has to do with the company’s inclination to striking partnerships over the recent past.
Some of this company’s acquisitions have been in Latin America and Europe. Partnerships have been struck in Canada and Africa.
The business guru takes great pride in its leading cannabis-infused beverage formulations. It also believes in its production experience, which it says gives it an upper hand over rivals.
Analysts have been looking at the company’s current production margins and its ongoing sales. They say that the current plans to expand the production of the EVERx CBD Sports Water will make the company’s dream come true.
It was three years ago that the company unveiled its EVERx CBD Sports Water. This was at an event known as the Arnold Schwarzenegger’s Arnold Sports Festival where quite a significant number of bottles were sold. There are ongoing efforts to expand the festival to more places around the globe, and that will helps boost sales significantly.
Puration admits that it has had to channel a lot of funds in coming up with the cannabis-infused beverages. However, it hasn’t been in vain since the products have been performing well in the global markets.
The company says that the expanded production capacity is a major boost in its efforts to garner the white label contracts. This company’s management team has made a confirmation that it might take about 90 days to succeed on this quest. It has also told the stakeholders that it will soon provide a more specific 2020 revenue target.