NightFood to Explore Entering $2.1 Billion CBD Market with Cannabidiol Infused Products
TARRYTOWN, NY -- (Marketwired) -- 11/01/17 -- NightFood Holdings, Inc. (OTCQB: NGTF) a category leading, sleep-friendly, functional-food snack company, is pleased to announce that the Company is researching introducing a line of snacks with cannabidiol (also known as CBD) to promote the medicinal benefits of CBD, including better sleep.
Now legal in all 50 states, CBD is a chemical compound naturally found in the cannabis plant. It has long been understood to promote sleep, reduce pain and inflammation, reduce anxiety, relieves nausea, among other significant benefits, without the psychoactive effects that many people associate with consuming marijuana.
Sleep experts such as NightFood Advisory Board member Dr. Michael Grandner and Dr. Michael Breus believe that CBD can be a groundbreaking ingredient when added to a nighttime snack.
"The research on CBD and sleep is still emerging, but what is there is quite compelling," explained NightFood Scientific Advisor Dr. Michael Grandner, Director of the Sleep and Health Research Program at the University of Arizona. "I look forward to helping the Company evaluate the short and long-term effects of CBD on sleep and how those might be helpful in a night snack, and assisting in product development if and when we get to that stage."
Sean Folkson, CEO of NightFood, stated, "The Company, having recently reached numerous sales milestones over the last four months, believes the time is now to explore this CBD opportunity. We've achieved significant traction and are developing a profitable direct-to-consumer online sales model. We're in discussions with highly regarded potential acquisition targets for a CBD product line. The timing couldn't be better as the health benefits of CBD are becoming mainstream and more socially recognized than ever."
Company CMO Peter Leighton added, "As industry reports suggest, night-time nutrition is a key trend that will have a significant impact on the landscape of the consumer snack space over the next several years. This trend is largely associated with consumers wanting generally healthier options for night-time snacking, with some added functionality such as better sleep, relaxation, with a reduction of stress and anxiety."
A recent Forbes article reported that the CBD market is projected to grow to $2.1 Billion by 2020.
Mr. Folkson concluded, "Our focus remains clearly on the nighttime snack market. We expect the NightFood brand to remain our cornerstone, and project the mainstream night-time snack market to be larger and more strategically valuable than the rapidly growing CBD market. With edibles rapidly gaining momentum and market share, the inclusion of CBD cannot be ignored."
NightFood (OTCQB: NGTF), "The Nighttime Snack Company", is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks.
Currently, consumer's most popular choices are cookies, chips, ice cream, and candy. These options are generally understood to be unhealthy, and often contain ingredients and nutritional profiles that can impair sleep quality. NightFood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.
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Source: NightFood Holdings, Inc.
Released November 1, 2017