- Nutraceuticals market growth is anticipated to create new opportunities for companies that are already well-established in the industry
- Recently, Global Consortium announced the addition of a medical-grade nutraceutical division to its subsidiary, Infused Edibles
- The new nutraceutical formulas will be developed and tested at a California facility prior to hitting the market, with the first product expected to become available in June 2019
The global nutraceuticals market is anticipated to grow from $184.0 billion in 2015 to $302.3 billion in 2022, recording a CAGR of 7.04 percent for the period, according to an Allied Market Research report (http://ibn.fm/f7uXb). According to industry forecasts, the market holds substantial potential for growth, and well-established players such as Global Consortium Inc. (OTC: GCGX) are positioned to make good use of such opportunities.
Global Consortium is currently working toward the establishment of its nutraceuticals line, with the first product anticipated to hit the market in June 2019. The company’s nutraceuticals division will operate under the company’s Infused Edibles subsidiary (http://ibn.fm/bXKzV). It will be overseen by medical doctors and veterinarians from numerous specialties to ensure the development of the right proprietary formulas for either human or animal use.
Infused Edibles is already selling a wide selection of specialty CBD-infused edible products, such as gummies, fruit and nut mixes, baked goods, jerky and CBD oils, to name a few. The company has over 13 years of experience, and it has received 17 top awards for its U.S.-grown and CBD-infused offerings to-date.
The addition of a medical-grade nutraceutical division to the Infused Edibles portfolio is the next logical step in the expansion of the brand. Each new formula will be developed and thoroughly tested in a California lab prior to becoming available to the public. As per an official Global Consortium announcement, the nutraceutical line will consist of balms, lotions, ointments, pills, powders and liquids (http://ibn.fm/eSjgF).
Some of the formulations will be marketed to medical practices as white labeled offerings. This means that the respective nutraceutical products will be custom-tailored.
Global Consortium has acquired multiple cannabis industry companies, with several subsidiaries, partnerships and licensing agreements. The company is also working on the construction of its Cannabis Mall in Sacramento, California. The aim of the facility is to house cannabis manufacturing, distribution, delivery, retail, testing and cultivation operations under the same roof.
The 64,000-square-foot building will aim to showcase key cannabis operations and the multiple steps that have to be undertaken before a product hits the shelf. To showcase some of the most relevant processes, the company will soon be taking delivery of a machine capable of processing 60 pounds of products per eight hours. This means that Global Consortium will put out 23 liters of CBD oil per day at a forecast minimum of $8,000 per liter for large orders.
According to the company, the very first Cannabis Mall in the U.S. will house the largest operational CBD and THC distillate and edible manufacturing facility in the country.
For more information, visit the company’s website at www.GCGX.org
NOTE TO INVESTORS: The latest news and updates relating to GCGX are available in the company’s newsroom at http://ibn.fm/GCGX