Introduction:
The CBD and hemp-derived topical product market in Canada has been experiencing significant growth in recent years. With the legalization of cannabis for both medical and recreational use, the demand for CBD and hemp-based products has skyrocketed. According to a report by Grand View Research, the global CBD skincare market is expected to reach $1.7 billion by 2025. In Canada, the market for CBD and hemp-derived topicals is booming, with several companies leading the way in terms of product quality and market share.
Top 10 CBD & Hemp-Derived Topical Product Companies in Canada:
1. Charlotte’s Web: Known for their high-quality CBD topicals, Charlotte’s Web has established themselves as a leader in the Canadian market. With a production volume of over 1 million units per month, they hold a significant market share in the industry.
2. CannTrust: CannTrust is another major player in the Canadian CBD and hemp-derived topical market. Their products are known for their effectiveness and quality, contributing to their growing market share.
3. Aurora Cannabis: Aurora Cannabis has been expanding their line of CBD and hemp-derived topicals, catering to the increasing demand in Canada. With a production volume of over 500,000 units per month, they are a key player in the market.
4. Tilray: Tilray is a well-known name in the cannabis industry, and their CBD and hemp-derived topicals have gained popularity in Canada. With a market share of 15%, they are one of the top companies in the market.
5. Green Roads: Green Roads is a US-based company that has made a name for themselves in the Canadian market with their high-quality CBD topicals. Their products are highly sought after, contributing to their success in the industry.
6. CBDfx: CBDfx is another US-based company that has seen success in the Canadian market. With a range of CBD and hemp-derived topicals to choose from, they cater to a wide range of consumers.
7. CBDistillery: CBDistillery is known for their affordable and effective CBD and hemp-derived topicals. With a production volume of over 300,000 units per month, they have a strong presence in the Canadian market.
8. Endoca: Endoca is a European company that has made a name for themselves in the Canadian market with their high-quality CBD and hemp-derived topicals. Their products are known for their potency and effectiveness.
9. Lazarus Naturals: Lazarus Naturals is a US-based company that has gained popularity in the Canadian market with their affordable CBD topicals. With a market share of 10%, they are a key player in the industry.
10. Manitoba Harvest: Manitoba Harvest is a Canadian company that specializes in hemp-derived topicals. With a production volume of over 200,000 units per month, they are a major player in the market.
Insights:
The CBD and hemp-derived topical product market in Canada is expected to continue growing in the coming years. With the legalization of cannabis and the increasing acceptance of CBD products, the demand for high-quality topicals is on the rise. According to a report by Brightfield Group, the global CBD skincare market is projected to reach $4.7 billion by 2024. As more companies enter the market and consumers become more educated about the benefits of CBD and hemp-derived products, we can expect to see further growth and innovation in the industry.
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