|
Ranking and Market Share |
#11 - 2.2% of overall market. 2019 sales: $54 million; 2018 sales: Negligible |
|
Product Portfolio |
Tinctures (oil), softgels, edibles |
|
Distribution Channels |
Online, natural food stores |
|
Positioning |
Legacy supplements brand known for quality, working to build on this reputation in hemp and tap into mainstream nutraceuticals market |
|
Competitive Advantages |
Legacy supplement brand with established presence in thousands of brick-and-mortars throughout the U.S., reputable and trusted brand among both mainstream customers and retailers; Among first granted quality seal by well-recognized U.S. Hemp Authority |
|
Core Competencies |
Production and sale of CBD products that fit easily and naturally into existing natural supplements sales model and marketing strategies |
|
Making the most money on |
Tinctures, capsules |
|
Doing well |
Tapping into existing infrastructure (distribution channels, production processes, marketing) to appeal to mainstream nutraceuticals consumers with innovative CBD products |
|
Beneficial trends |
Among the mainstream supplements companies now carrying hemp, few have ventured into edibles – Barlean's has done so (beyond its oil and capsule lines), showing both a willingness and capacity to diversify portfolio and respond to market needs |
|
Niches competitors are missing |
Attracting new natural food consumers via creative education campaign on website addressing need and desire for improved understanding of CBD product among mainstream customers |
|
Additional growth opportunities |
Short track record in hemp CBD market, have been operating less than a year and still offer few products – must expand retail channels and product line to more effectively compete with established players who have traction and relationships (not only CBD companies, but formidable competing legacy supplements brands) |
|
Who do they want to be? |
Leader in natural healing space, effectively incorporating CBD into its menu of nutraceutical products to best serve and attract customers |
|
Desire to be known for |
Willingness and capacity to diversify portfolio and respond to market needs |
|
Priorities |
Among the mainstream supplement manufacturers that have entered the space, Barlean's is among the smallest, thus it is prioritizing effective marketing through education campaigns to better distinguish itself and compete among both consumers and retail channels interested in pursuing CBD |
|
Chief competitors |
Irwin Naturals, NaturesPlus (HempCeutix) |