CBD Life Company executives announce the arrival of this balm and other products to the national market, which has a sales potential of 2 billion dollars.
The Mexican company CBD Life launched the first five products made with cannabis extract to the national market called CBD or cannabidiol, of the 21 that were approved by the Federal Commission for the Protection of Health Risks ( Cofepris).
“We are dating these cosmetic products that we consider to be the most pleasant way to introduce them to this market,” said the company’s Operations Director , Janko Ruiz de Chávez.
The remaining 16 products will be launched depending on the country’s progress and regulation in that area.
The items that will go on the market have more than two years in development and are Mariguanol, balm of which they have the registered trademark; hot and cold balms, and massage oil.
“They are part of the 38 permits that were given; c omo CBD Life took more than three years working with the authorities seeing how regulations are developed . As the first Mexican company that is integrating the products into formal channels we do expect to have a very good participation with the market, ”said the company’s CEO, Iker Ruiz de Chávez.
According to the company, cannabinoids have a therapeutic function that helps relieve pain, discomfort and are used in treatments against stress and insomnia.
The products will be imported from the United States and Canada, and according to managers, will be up to 70 percent cheaper than in the first country.
The starting price of Mariguanol will be 189 pesos; “This means that it is already a product that went through an import process, that pays taxes, gives work and is placed in a recognized institution of quality for consumers, such as a pharmacy. This is a product that has been marketed for years, but what we want to do is bring it closer to customers, have a standardized article,” said Iker Ruiz.
The representatives of the manufacturer of Mariguanol said that it is estimated that the Mexican market can reach sales of 2 billion dollars.
According to the analysis, The cannabis index where will legalization move next? , of the research firm specialized in consumption Euromonitor International, by 2025 it is expected that the global value of the cannabis industry will reach 166 billion dollars.
The development of the industry in the United States and Canada was what encouraged the Mexican company to leverage its production from these countries to position them in Mexico with its Mariguanol, Balsams CBD Life and Foria brands.
Euromonitor notes that America and Europe are expected to dominate this legal industry in the short and medium terms, but they trust that legalization will begin to accelerate in other regions. For the consultant, Mexico is the eighth economy (within 100 countries) with market potential for legal cannabis. In Latin, AmericaThe country is behind Uruguay and Chile and above Argentina.
The fact that the opportunities for use are expanding, he says, make growth opportunities in different industries important. Sectors such as beverages, tobacco, beauty, and personal care, packaged products, and health articles have a growing area of opportunity in the cannabis industry.
“Right now what the legal framework allows us are products with less than 1 percent THC, we will see how the regulation is developed but it is impossible to talk about other issues such as recreational use,” said the company’s Operations Director.
He added that soon the company will be able to enter the market with tinctures, drinks and even gummies with a certain amount of cannabis.
The first sales will be made between the third week of August and the beginning of September in more than 40 thousand points of sale from the pharmacy chains to self-service stores.
They said they are still waiting to know what will happen with the revocation of the guidelines by Cofepris so that the industry continues to grow.
The CBD or cannabidiol is a cannabinoid derivative hemp with the particularity that has no psychoactive effects.
The category of products made with CBD is growing rapidly and it is estimated that in the next 5 years it will be worth 30 bdd in the world.
CBD Life products are made in the United States and are federally regulated.
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