HOUSE_OVERSIGHT_024858.jpg
1.29 MB
Extraction Summary
1
People
24
Organizations
0
Locations
1
Events
1
Relationships
3
Quotes
Document Information
Type:
Market research report / financial analysis
File Size:
1.29 MB
Summary
A page from a Cowen market research report dated February 25, 2019, analyzing the CBD beverage market. The document includes data on price segmentation of various CBD beverage brands and demographic statistics regarding consumer usage based on a January 2019 survey. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, suggesting it was part of a document production for a congressional investigation.
People (1)
| Name | Role | Context |
|---|---|---|
| Michael Cella | Recipient |
Email address michael.cella@cowen.com appears in the sidebar watermark indicating the report is intended for him.
|
Organizations (24)
| Name | Type | Context |
|---|---|---|
| Cowen | ||
| Cowen and Company | ||
| House Oversight Committee | ||
| CBD Living | ||
| Cannaki | ||
| Root Origins | ||
| Isodiol | ||
| Quantum | ||
| Aurora Elixers | ||
| Vybes | ||
| Endo Brands | ||
| Recess | ||
| Mountjoy | ||
| Diamond CBD | ||
| Kickback | ||
| CBD FX | ||
| Willie's | ||
| Cannabinoid Creations | ||
| EVERx Nutrition | ||
| Sprig | ||
| Hemp Bombs | ||
| GT's | ||
| Reliva | ||
| Rocky Mountain High |
Relationships (1)
Email address domain @cowen.com listed in watermark.
Key Quotes (3)
"There are a solid amount of beverage companies currently playing within the space, largely price positioned within the mainstream and value segments of the market."Source
HOUSE_OVERSIGHT_024858.jpg
Quote #1
"Based on our survey, of respondents that use CBD, 19.2% use beverages as a form factor, which is admittedly higher than we would've expected given the nascent stage of the category."Source
HOUSE_OVERSIGHT_024858.jpg
Quote #2
"This leaves us optimistic on the future prospects of the category as a waterfall effect can result in an increase in category mix."Source
HOUSE_OVERSIGHT_024858.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,084 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
There are a solid amount of beverage companies currently playing within the space, largely price positioned within the mainstream and value segments of the market. We would highlight that on a price per mg basis, beverages skew higher across the board, relative to tinctures, capsules and gummies.
Figure 70 Beverage Price Points Are Premium Relative To Tinctures, Capsules, Gummies, And Topicals
CBD Beverages by Price Segment
$1.25
$1.00
$0.75
$0.50
$0.25
$0.00
$1.25
$1.00
$0.75
$0.50
$0.25
$0.00
$1.10 CBD Living
$1.00 Cannaki
$1.00 Root Origins
$0.80 Isodiol
$0.63 Quantum
$0.53 Aurora Elixers
$0.53 Vybes
$0.50 Endo Brands
$0.50 Recess
$0.46 Mountjoy
$0.42 Diamond CBD
$0.40 Kickback
$0.35 CBD FX
$0.34 Willie's
$0.26 Cannabinoid Creations
$0.25 EVERx Nutrition
$0.21 Sprig
$0.20 Hemp Bombs
$0.16 GT's
$0.12 Reliva
$0.01 Rocky Mountain High
$1.00 Cannaki
$1.00 Root Origins
$0.80 Isodiol
$0.63 Quantum
$0.53 Aurora Elixers
$0.53 Vybes
$0.50 Endo Brands
$0.50 Recess
$0.46 Mountjoy
$0.42 Diamond CBD
$0.40 Kickback
$0.35 CBD FX
$0.34 Willie's
$0.26 Cannabinoid Creations
$0.25 EVERx Nutrition
$0.21 Sprig
$0.20 Hemp Bombs
$0.16 GT's
$0.12 Reliva
$0.01 Rocky Mountain High
Super Premium (> $0.83)
Premium ($0.57-$0.83)
Main ($0.29-$0.56)
Value (< $0.29)
Premium ($0.57-$0.83)
Main ($0.29-$0.56)
Value (< $0.29)
Source: Company Websites and Cowen and Company
Note: Reflects price per mg of CBD; For companies with multiple SKUs, we used a straight line average
Note: Reflects price per mg of CBD; For companies with multiple SKUs, we used a straight line average
Based on our survey, of respondents that use CBD, 19.2% use beverages as a form factor, which is admittedly higher than we would've expected given the nascent stage of the category. Similar to both capsules and topicals, beverage use is a more popular choice among younger, lower income consumers (by a wider margin relative to other age cohorts compared to the other categories). This leaves us optimistic on the future prospects of the category as a waterfall effect can result in an increase in category mix.
Figure 71 Popularity Among Younger Consumers Can Result In A Waterfall Effect Over Time
CBD Beverage Use
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
Total 19.2%
Male 20.5%
Female 18.0%
18-34 28.8%
35-54 15.3%
55+ 3.7%
<$50K 22.2%
$50K-$100K 16.4%
>$100K 11.1%
Male 20.5%
Female 18.0%
18-34 28.8%
35-54 15.3%
55+ 3.7%
<$50K 22.2%
$50K-$100K 16.4%
>$100K 11.1%
Gender
Age
Income
Age
Income
Source: Cowen Survey, n=~2500, January 2019
This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
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