CBD Company - Barlean's

 

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

Strengths

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

Opportunities

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)

Aspirations and Results

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)

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