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Extraction Summary
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Quotes
Document Information
Type:
Financial research report / market analysis
File Size:
1.26 MB
Summary
This document is page 27 of a Cowen Collaborative Insights financial report dated February 25, 2019. The content is a market analysis of the CBD (Cannabidiol) industry, breaking down price per milligram across various product categories such as tinctures, gummies, and beauty products. While the content itself is strictly financial research regarding consumer staples, the document bears the Bates stamp 'HOUSE_OVERSIGHT_024843', indicating it was part of a document production for a US House Oversight Committee investigation.
People (1)
| Name | Role | Context |
|---|---|---|
| Michael Cella | Recipient/Employee |
Named in the sidebar watermark: 'This report is intended for michael.cella@cowen.com'
|
Organizations (2)
| Name | Type | Context |
|---|---|---|
| Cowen |
Header and footer branding (Cowen Collaborative Insights, Cowen and Company).
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT_024843' at the bottom right.
|
Locations (1)
| Location | Context |
|---|---|
|
Mentioned in point iii regarding the research on the CBD opportunity.
|
Relationships (1)
Email address michael.cella@cowen.com listed in watermark.
Key Quotes (3)
"Beauty Products Carry the Most Premium Pricing, While Tinctures and Gummies Offer the Best Value Proposition in Terms of Price / MG of CBD"Source
HOUSE_OVERSIGHT_024843.jpg
Quote #1
"To analyze the category's potential, we focused on six specific consumer product categories"Source
HOUSE_OVERSIGHT_024843.jpg
Quote #2
"Forecast run rate revenues by vertical over the next two years"Source
HOUSE_OVERSIGHT_024843.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,192 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
From a consumer staples perspective, we see innovation across a host of form factors.
To analyze the category's potential, we focused on six specific consumer product
categories, including:
To analyze the category's potential, we focused on six specific consumer product
categories, including:
i. Nutraceuticals (tinctures, capsules, sprays, and gummy vitamins)
ii. Topicals (for targeted pain relief, like Tiger Balm)
iii. Beverages (water, energy drinks and beer)
iv. Food (including confections and bars)
v. Vapor
vi. Beauty (including skin care, serums, lotions, and bath products)
ii. Topicals (for targeted pain relief, like Tiger Balm)
iii. Beverages (water, energy drinks and beer)
iv. Food (including confections and bars)
v. Vapor
vi. Beauty (including skin care, serums, lotions, and bath products)
While our analysis was far from exhaustive, below we:
i. Break down the above product categories by sub-segment to benchmark
pricing, which we define as value, main, premium and super-premium,
ii. Forecast run rate revenues by vertical over the next two years,
iii. Offer company-specific detail on numerous private and public companies as
part of our research on the CBD opportunity (primarily in the U.S.).
pricing, which we define as value, main, premium and super-premium,
ii. Forecast run rate revenues by vertical over the next two years,
iii. Offer company-specific detail on numerous private and public companies as
part of our research on the CBD opportunity (primarily in the U.S.).
Figure 27 Beauty Products Carry the Most Premium Pricing, While Tinctures and Gummies Offer the Best Value Proposition in Terms of Price / MG of CBD
CBD Form Factor Price Per MG
Tinctures [$0.09] [$0.14] [$0.19] [$0.24]
Gummies [$0.12] [$0.16] [$0.20] [$0.24]
Vape [$0.10] [$0.17] [$0.23] [$0.30]
Confections [$0.19] [$0.28] [$0.38] [$0.47]
Bath Bombs [$0.20] [$0.31] [$0.41] [$0.52]
Capsules [$0.19] [$0.33] [$0.46] [$0.60]
Bars [$0.30] [$0.43] [$0.57] [$0.70]
Topicals [$0.21] [$0.38] [$0.54] [$0.71]
Body Lotion [$0.24] [$0.41] [$0.58] [$0.75]
Body Oil [$0.27] [$0.45] [$0.62] [$0.80]
Beverages [$0.29] [$0.56] [$0.83] [$1.10]
Mask [$0.36] [$0.61] [$0.85] [$1.10]
Balm [$0.50] [$0.95] [$1.40] [$1.85]
Face Cream [$0.82] [$1.43] [$2.05] [$2.67]
Face Serum [$0.91] [$1.60] [$2.30] [$3.00]
Gummies [$0.12] [$0.16] [$0.20] [$0.24]
Vape [$0.10] [$0.17] [$0.23] [$0.30]
Confections [$0.19] [$0.28] [$0.38] [$0.47]
Bath Bombs [$0.20] [$0.31] [$0.41] [$0.52]
Capsules [$0.19] [$0.33] [$0.46] [$0.60]
Bars [$0.30] [$0.43] [$0.57] [$0.70]
Topicals [$0.21] [$0.38] [$0.54] [$0.71]
Body Lotion [$0.24] [$0.41] [$0.58] [$0.75]
Body Oil [$0.27] [$0.45] [$0.62] [$0.80]
Beverages [$0.29] [$0.56] [$0.83] [$1.10]
Mask [$0.36] [$0.61] [$0.85] [$1.10]
Balm [$0.50] [$0.95] [$1.40] [$1.85]
Face Cream [$0.82] [$1.43] [$2.05] [$2.67]
Face Serum [$0.91] [$1.60] [$2.30] [$3.00]
$0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 $2.75 $3.00 $3.25
Value Main Premium Super Premium
Value Main Premium Super Premium
Note: Price boxes represent the high-end of the form factor's respective price segment.
Source: Company Websites and Cowen and Company
Source: Company Websites and Cowen and Company
COWEN.COM
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[Sidebar Text]: This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
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