One of the world's leading producers of cannabis-derived CBD products has reached an agreement to have their wide range of CBD brands and products distributed into 6 EU countries.
American based Bhang Inc has teamed up with Spanish distributor CHK Solutions in a 3-year agreement which will see their products imported and distributed into France, Spain, Italy, Belgium, Luxembourg, and the UK.
Bhang is a global cannabis house of brands manufacturing a wide range of CBD products including drops, balms, edibles, e-liquids, capsules and more. To comply with American border restrictions which mirror the majority of EU countries laws on cannabis, none of Bhang products can contain more than the allowed 0.2% of the intoxicating compound THC.
Having cemented a place in the American market over the last 9 years, Bhang CEO Scott Van Rixel saw the emerging EU market as the next logical step. “As the European Union opens its doors to cannabis and hemp-derived CBD products and demand for award-winning cannabis products increases, there is a significant opportunity for Bhang to further establish its presence in the global cannabis landscape,” he says.
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The Bhang corporation has a diverse range of expertise with a team comprising of scientists, marketers, deal makers and business leaders. This combination of experience and award-winning brands should help Bhang compete with the already growing number of CBD manufacturers in the EU.
The ‘EU CBD’ market was valued at €318m in 2018 and according to research group Brightfield, is expected to be worth $419m in 2019 rising over 400% to an estimated €1.7 billion by 2023. A key factor to this significant growth is consumers turning to the non-intoxicating cannabis compound to alleviate a wide range of ailments from epilepsy to anxiety along with a host of other therapeutic potential.
CBD has been immersed in positive news stories the world over as its medicinal benefits come to light but one big negative to this compound is its very high price. Bhang’s entry into this burgeoning market gives optimism to consumers that prices may fall as it competes with existing suppliers with consumers hopeful that they might get more Bhang for their buck.
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