CBD Market: Vitamin Shoppe Enters Field, More Gummies Launched
Executive Summary
Nutrition, health and wellness product firm launches its CBD sales with Irwin's Naturals products and also offers SpaRoom oils. Green Gorilla and Folium Biosciences are the latest nutritional product firms to offer CBD-containing supplements in gummy format.
You may also be interested in...
FDA Opens CBD Regulatory Path Docket, Warns Firms On Claims Missteps
With public hearing scheduled May 31 and a related public comment period, FDA "is interested in whether there are particular safety concerns that we should be aware of as we consider the FDA’s regulatory oversight and monitoring" of CBD products. Also influencing FDA's consideration is that CBD and other cannabis-derived substances are approved and being studied as drugs products, making their use as dietary ingredients noncompliant with agency regulations.
FDA Clearing CBD As Dietary Ingredient? Legislation More Likely Than Rulemaking
Senate Appropriations subcommittee members add to Capitol Hill's push for FDA to change its current regulatory stance that CBD is deemed noncompliant for use in supplements and food. Commissioner Gottlieb suggests legislation authorizing FDA to allow use of CBD up to certain concentrations in supplements and food products. FDA currently allows sales of food and supplements containing CBD under enforcement discretion.
GNC, Vitamin Shoppe Not On Same Page In Solving Similar Growth Challenges
Common thread between the manufacturers and retail chain operators offering their own and other brands extends to relatively recent executive suite shakeups following extended stretches of declining sales growth. GNC reported nearly $70m net income for 2018 after two years of net losses and Vitamin Shoppe trimmed its loss by more than $200m from 2017 to $12.1m.