Charlotte’s Web is a Colorado-based B Corp company specializing in the creation, distribution, and sales of cannabinoid-based products. The company describes itself on its website as starting “as a mission, not a company. In the early days, our extract was something we gave away to help those who could benefit from it. Ten years later, our mission is as strong as ever: improve lives, naturally.”
The company is one of the most recognizable brands in the United States, and recently announced the launch of its products in 827 Walmart stores across 5 states.
“Starting this month, consumers will find Charlotte’s Web CBD topical products in 827 Walmart stores across five states including California, Illinois, Florida, Texas, and Pennsylvania.” the company stated in a press release.
“We are proud to introduce CBD topicals at Walmart, reflecting Charlotte’s Web’s dedication to setting new standards of excellence in the CBD industry, ensuring every Walmart shopper can experience the transformative benefits of our meticulously crafted products. We are not only broadening our retail footprint but also reinforcing our mission to innovate and elevate the consumers’ wellness journeys through science-backed CBD solutions,” says Bill Morachnick, CEO of Charlotte’s Web.
“The new line of competitively priced CBD topicals is formulated with CBD isolate. The collection includes a balm stick, a cream, and a cooling gel, each containing 1,000 mg of concentrated CBD isolate. These are blended with soothing and cooling ingredients including menthol, camphor, and aloe vera. All products are non-GMO, cruelty-free, sulfate-free, paraben-free, and formulated without major allergens.” the company stated.
Charlotte’s Web is the official CBD company of Major League Baseball, Angel City Football Club, and the Premier Lacrosse League.
The global cannabidiol (CBD) market was worth an estimated $7.6 billion in 2023 according to a market analysis by Market.us, and will climb to a projected $36.6 in value by 2033.
“Between 2023 and 2032, this market is estimated to register the highest CAGR of 27%.” the researchers stated.
Market.us determined the following as part of their global CBD market analysis:
- CBD oil is the most dominant product type, with a market share of over 30%, largely due to its effectiveness in managing chronic pain
- Pharmaceuticals represent the most lucrative segment, accounting for over 25% of the market, driven by CBD’s neuroprotective and pain-relieving properties
- Online pharmacies hold the largest market share (25%) due to the convenience of online sales and global reach
- North America leads the market, holding a 60% market share, with Europe and Asia-Pacific showing emerging demand
- The B2B sector played a dominant role in the global CBD market in 2023, accounting for a substantial revenue share of 55.1%
A separate global CBD market analysis conducted by Grand View Research found that the global CBD market was worth $7.7 billion in 2023, and estimates that the market will grow by 15.8% from 2024 to 2030.
A previous market analysis conducted by Market Research Future estimated that the global CBD industry was worth $18.43 billion in 2023 and that the market would reach a projected 59.43 billion by 2030.