Martha Stewart Joins the Industry by Launching a CBD Wellness Line
On the left, Martha Stewart in 2008, Photo credit: nrkbeta - Martha Stewart, CC BY-SA 2.0. On the right, luscious gummies
Martha Stewart became the latest celebrity to add a ‘green addition’ to her multibillion-dollar brand by introducing her CBD wellness line earlier this month. The beloved baker and TV personality announced the launch of cannabidiol-rich gummies, soft gels, and oil drops after more than a year in development.
The hemp-derived products are the result of Stewart’s partnership with the Canadian cannabis company Canopy Growth (CGC). America’s lifestyle guru was introduced to the founder of Canopy Growth (CGC) by her unlikely friend Snoop Dogg in early 2019 and soon after joined the cannabis company as an adviser for developing CBD products for pets and humans. Stewart’s fans can choose from a myriad of CBD products online at Canopy's e-commerce site ranging from $34.99 to $44.99.
Inspired by her garden and kitchen, Martha Stewart was closely involved in product development. The gummies flavors are inspired by French pâte de fruit and baking goods range from Meyer lemon, kumquat, cream tartlets, blood orange cheesecake, berries, and huckleberry. In a statement, Stewart said she was surprised to learn that while most people have heard of CBD, less than 20% of us have actually tried it.
"For me, that signals a lot of opportunity to create beautiful, elevated products that help people live well,” Stewart said in a statement emailed to CNN Business. Martha Stewart is far from being the first celebrity to dabble in the booming cannabis market and launch the CBD line. Expected to reach $4.75 billion at the end of 2020, CBD is a burgeoning business in the United States.
The number of products featuring the non-psychoactive compound blowing up after hemp was legalized. According to Brightfield estimates, roughly 3,000 different CBD brands are competing for positioning, driving down prices, and shredding market share. The AI & Big Data company anticipates that by 2025 hemp-derived CBD grows into a $16.8 billion worth industry.
Canopy's CEO, David Klein, told CNN they are positive the Martha Stewart CBD wellness line will stand out from the crowd because of the lifestyle’s guru special touch to the products. Apart from the human and pet line, which is expected to debut later this year, Stewart announced that in another partnership with a yet-to-be-named dermatologist, she works on a CBD skincare line called 86 Elm.
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