Total market domination isn’t loved by everybody, but when one company mows down all the competition, it’s worth looking into – especially as an investor. Just like Amazon is to online shopping and Starbucks is to coffee, it’s perfectly normal for one company to emerge as the undisputed leader, and that’s just part of living in a free-market economy.
Cannabis is no exception, especially in states where the laws are permissive and the demand is robust. California, the biggest legal marijuana market in the United States, is a textbook example of healthy competition at its best: business is booming, tax revenues are coming in, and jobs are being created in the state because California took an early lead in the race to legalize cannabis.
California has seen a particularly sharp increase in its cannabis edibles market, which is especially popular among health-conscious millennial consumers. Edibles allow consumers to enjoy the benefits of cannabis without having to light up, providing the ability to medicate at work or in public social situations.
Besides, edibles are an excellent entry point into the cannabis market for new users who don’t wish to smoke or vape the product. It’s the perfect union of the burgeoning cannabis market and the increasingly popular functional foods market, which Grand View Research expects to reach $275.77 billion by 2025.
As far as edibles go, California is the clear frontrunner in terms of market size, sales, and product offerings. Colorado, the number-two edibles market, doesn’t even come close:
Courtesy: PLUS Products Inc. Investor Presentation
There’s a ton of money to be made in the California edibles space, and believe it or not, 41% of this market is occupied by one dominant company: Plus Products Inc. (CSE: PLUS, OTC: PLPRF). Not only that, but they achieved this in barely over than a year – a monumental feat for a start-up in any competitive market.
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Don’t get the wrong impression: PURE’s vision isn’t limited to just one American state – not by a long shot. With a quickly deployable suite of production facilities, PURE has plans for expansion into the key states of Florida, New York, Michigan, Massachusetts, and Nevada, plus Canada. Through a combination of direct ownership and partnerships, this company will soon become a dominant global brand.
They’ll do it the same way they captured the California market: with agile food manufacturing technology, expert brand teams, and an uncompromising commitment to quality control. After all, with a 12,000-square-foot licensed food manufacturing facility boasting an annual production capacity of $50 million, it’s not hard to see how PURE easily outpaced the competition – and they’ll do it again and again.
Courtesy: PLUS Products Inc. Investor Presentation
Rocketing from number 34 to number 1 in such a short span of time is an incredible growth story – I’ve never seen a company capture market share at this rate before, but that’s a testament to the edibles market as a whole and PLUS Products in particular.
The sky’s the limit for this company, as they now have their sights set on other market segments. Through new product launches and acquisitions, PURE could monopolize the legal California market in their quest to build the nation’s and the world’s strongest cannabis brand. And when the U.S. enacts the federal legalization of cannabis, PURE stock investors will see life-changing returns – it’s only a matter of time.
There’s really no competition – and I mean that in a literal sense – with PURE enjoying such a commanding market share in California edibles. Investors are strongly advised to hold their shares, and competitors are advised to get out of the way as PURE reigns supreme in the world’s fastest-growing market.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. We will never sell any shares during any active email marketing campaigns. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.