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People
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Organizations
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Locations
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Quotes
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Market research report / financial analysis
File Size:
1.41 MB
Summary
This document is page 29 of a 'Cowen Collaborative Insights' market research report dated February 25, 2019, analyzing the CBD tincture market. It presents data on price segmentation among competitors (such as Lord Jones and Lazarus) and consumer demographics regarding tincture usage. The document bears the Bates stamp 'HOUSE_OVERSIGHT_024845', indicating it was obtained during a House Oversight Committee investigation, likely as part of a larger cache of documents from a financial institution, though the content itself is strictly market research.
People (1)
| Name | Role | Context |
|---|---|---|
| Michael Cella | Recipient/Employee |
Email address listed in the distribution watermark: michael.cella@cowen.com
|
Organizations (9)
| Name | Type | Context |
|---|---|---|
| Cowen |
Financial services firm producing the report (Cowen and Company)
|
|
| House Oversight Committee |
Implied by Bates stamp 'HOUSE_OVERSIGHT_024845'
|
|
| Lord Jones |
CBD company listed in price comparison
|
|
| Lazarus |
CBD company listed in price comparison
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| Medix CBD |
CBD company listed in price comparison
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| Diamond CBD |
CBD company listed in price comparison
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| Green Roads |
CBD company listed in price comparison
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| Charlotte's Web |
CBD company listed in price comparison
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| Curaleaf Hemp |
CBD company listed in price comparison
|
Timeline (1 events)
Relationships (1)
Email address michael.cella@cowen.com indicates affiliation with the firm producing the report.
Key Quotes (3)
"Tinctures are the market leading form factor within CBD"Source
HOUSE_OVERSIGHT_024845.jpg
Quote #1
"Lord Jones leads the pack on premium pricing, with its tincture priced at $0.24 per mg of CBD."Source
HOUSE_OVERSIGHT_024845.jpg
Quote #2
"This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited."Source
HOUSE_OVERSIGHT_024845.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,375 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
Tinctures are the market leading form factor within CBD, which is reflected in the absolute number of companies that play across different price segments. On a price / mg CBD basis, Lord Jones leads the pack on premium pricing, with its tincture priced at $0.24 per mg of CBD. Lazarus falls at the opposite end of the price spectrum at $0.04 per mg of CBD. The vast number of price points throughout this segment reflects an abundance of choice for the consumer, providing options for all income cohorts.
Figure 31 Notable Competition Within Tinctures Segment
CBD Tinctures by Price Segment
$0.30
$0.25
$0.20
$0.15
$0.10
$0.05
$0.00
$0.30
$0.25
$0.20
$0.15
$0.10
$0.05
$0.00
[Chart Data Breakdown]
Lord Jones $0.24
Medix CBD $0.23
Diamond CBD $0.22
Green Roads $0.20
baceae $0.17
bella $0.17
Premium Jane $0.16
CV Sciences $0.16
Mary's Medicinals $0.16
Mary's Nutritionals $0.16
Pure Kana $0.16
Sunday Scaries $0.15
Highline $0.14
Papa & Barkley $0.13
Veggimins $0.11
Hemp Bombs $0.11
Isodiol $0.11
Elixinol $0.11
gronCBD $0.10
Endoca $0.09
Canna Hemp $0.08
Charlotte's Web $0.08
Reliva $0.08
cbdMD $0.08
Curaleaf Hemp $0.07
Green Mountain $0.05
Lazarus $0.04
Lord Jones $0.24
Medix CBD $0.23
Diamond CBD $0.22
Green Roads $0.20
baceae $0.17
bella $0.17
Premium Jane $0.16
CV Sciences $0.16
Mary's Medicinals $0.16
Mary's Nutritionals $0.16
Pure Kana $0.16
Sunday Scaries $0.15
Highline $0.14
Papa & Barkley $0.13
Veggimins $0.11
Hemp Bombs $0.11
Isodiol $0.11
Elixinol $0.11
gronCBD $0.10
Endoca $0.09
Canna Hemp $0.08
Charlotte's Web $0.08
Reliva $0.08
cbdMD $0.08
Curaleaf Hemp $0.07
Green Mountain $0.05
Lazarus $0.04
Super Premium (> $0.19)
Premium ($0.15-$0.19)
Main ($0.09-$0.14)
Value (< $0.09)
Premium ($0.15-$0.19)
Main ($0.09-$0.14)
Value (< $0.09)
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
In our consumer survey, of respondents who use CBD, 44% of people use tinctures as a form factor, which looks to be equally popular among both male and females. Interestingly, tincture use looks to be the most prevalent form factor among older consumers, as two-thirds of respondents within this cohort indicated use of a tincture. Tinctures look to be the most popular form factor across all income demographics, with over 50% of people using within the $50K-$100K segment.
Figure 32 Tinctures Are The Most Popular Form Factor
CBD Tincture Use
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
[Chart Data Breakdown]
Total: 43.6%
Male: 43.4%
Female: 43.8%
Gender
Total: 43.6%
Male: 43.4%
Female: 43.8%
Gender
18-34: 31.5%
35-54: 47.2%
55+: 66.7%
Age
35-54: 47.2%
55+: 66.7%
Age
<$50K: 37.4%
$50K-$100K: 56.4%
>$100K: 38.9%
Income
$50K-$100K: 56.4%
>$100K: 38.9%
Income
Source: Cowen Survey, N=~2500, January 2019
COWEN.COM
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[Right Sidebar Text]
This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
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