Wildflower Brands has signed an exclusive distribution agreement for the South African market. Exclusivity was granted to Africann, a local company specializing, amongst others, in the distribution of North American hemp products, given its access and distribution channels in the local market. Africann currently distributes to all leading pharmacy, health and wellness chains and independent pharmacy groups in South Africa.
The Brightfield Group announced market intelligence stating the hemp CBD market will hit $22 billion in sales by 2022. A more recent study by Brightfield states that CBD products will account for 25% of all global cannabis sales. International markets are opening up to CBD-based products as regulatory bodies, such as the World Anti-Doping Agency and the United Nations' World Health Organization, are increasingly reclassifying CBD as a safe compound that should not be prohibited.
William MacLean, CEO of Wildflower Brands, says, “More and more distributors are approaching us from all over the world to distribute Wildflower products. The consistent trend is that they are looking at the U.S. market to find CBD products to test and see what brands would fit the broadest consumer market. As global opportunities open up, Wildflower will see huge benefits from establishing itself early-on as a premium wellness brand. Expect to see Wildflower in many more newly emerging markets.”
“We are very excited to have the opportunity to bring the Wildflower range to South African consumers,” says Matthew Moodley, CEO of Africann, “Many years of research and design have gone into their products and we believe they will be well received by our market.”