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Ranking and Market Share |
#5 - 3.7% of overall market. 2019 sales: $91 million; 2018 sales: Negligible |
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Product Portfolio |
Tinctures (oil), capsules |
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Distribution Channels |
Online, natural food stores, mass supplement retail chains |
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Positioning |
Reputable natural food and supplement brand with distribution across the U.S., offering low-priced, accessible CBD products whose effects are bolstered by wellness-supporting ingredients |
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Competitive Advantages |
Legacy supplement brand with established presence in thousands of brick-and-mortars throughout the U.S.; Trusted brand among both customers and retailers; CBD fits easily and naturally into existing natural supplements sales model and marketing strategies |
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Core Competencies |
CBD is easily paired with other botanicals to tout wellness benefits, and Irwin Botanicals has leveraged understanding of this phenomenon and nutraceuticals market overall to quickly generate sophisticated, tailored products for a variety of consumers, backed by brand name and reputation |
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Making the most money on |
Capsules, tinctures |
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Doing well |
Entered CBD space in late 2018 by offering $1 million worth of free product, giving the company excellent PR traction as well as garnering interest from existing customer base as well as among new users in mainstream |
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Beneficial trends |
Increasing use of natural health food products to supplement or replace OTC or pharmaceutical medications - trends the company has been tapping into effectively for decades. |
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Niches competitors are missing |
Built-in current, mainstream customers (their brand followers) who are interested in treating emotional or physical ailments - or maintaining general wellness - supported by supplements. New CBD consumers who will only purchase from a known entity. |
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Additional growth opportunities |
Extensive network of brick-and-mortar retailers already carry and trust this brand, making Irwin Naturals a likely first-mover in Whole Foods and other mass retail chains beyond The Vitamin Shoppe, once FDA clarity is provided. |
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Who do they want to be? |
Leader in natural healing space across the U.S., utilizing the benefits of CBD in conjunction with other botanicals to promote whole-body health and support this mission |
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Desire to be known for |
Respected and recognized as an effective, safe and quality manufacturer in both the wellness and hemp industries - with product that is available to the masses |
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Priorities |
Maintaining quality and reputation of brand while expanding CBD retail channels and product menu; The company will continue to self-limit where and how it markets and sells product to ensure this – for instance, The Vitamin Shoppe offers Irwin Naturals CBD products only in select states, whereas it offers HempFusion CBD products throughout the U.S., though they are subject to the same regulatory structures. |
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Chief competitors |
CV Sciences, CW Hemp, Garden of Life, Barlean's |