FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Taat Herb Co. to Launch Hemp Cigarette as a Novel Alternative to Big Tobacco Products.”
TAAT LIFESTYLES & WELLNESS LTD. (CSE: TAAT) is pleased to announce it is preparing to launch its flagship brand Taat Herb Co., which has developed a tobacco-free and nicotine-free alternative to traditional tobacco cigarettes to be marketed under the Taat brand name. Taat hemp cigarettes are flavoured with naturally-occurring terpenes as well as a proprietary blend of tobacco flavouring which contributes to a user experience emulating that of a traditional cigarette. Taat hemp cigarettes also contain a minimum of 50mg of cannabidiol (“CBD”, a non-psychoactive derivative of hemp), which has been shown to impart numerous benefits to tobacco users who wish to quit, including the alleviation of tobacco withdrawals and the overall reduction of tobacco dependency. The Company anticipates that Taat hemp cigarettes will officially be launched in fall 2020. With worldwide tobacco-related deaths now topping eight million fatalities per year1, it is clear that the time has come to introduce attractive alternatives to traditional cigarettes to encourage and facilitate positive long-term change for tobacco users.
Taat Herb Co., the flagship brand of TAAT Lifestyles & Wellness Ltd. is an early-stage life sciences company based in Las Vegas, Nevada innovating nicotine-free and tobacco-free alternatives to traditional cigarettes. With a unique proprietary blend of all-natural ingredients and meticulous engineering of the user experience, Taat hemp cigarettes are designed to emulate every aspect of legacy tobacco products with no significant difference to the user. Enhanced with CBD, a non-psychoactive derivative of hemp, Taat hemp cigarettes provide benefits that include mitigation of tobacco withdrawals, and reduction of tobacco dependency. With an expert-led go-to-market strategy, the Company’s objective is to position itself in the US $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for better-for-you alternatives to traditional cigarettes.
There has been a substantial growth in demand for cannabidiol (CBD) products around the globe in recent years, mainly in developed countries such as the U.S., France, Canada and the Netherlands. As a result, various cannabidiol product manufacturing companies have partnered with big retail stores to better supply their consumers. To note, CBD has mainly become popular because researchers had discovered that it offers a number of therapeutic benefits. For instance, researchers noted that CBD can alleviate minor medical conditions such as headaches or soreness. By source, the CBD market is segmented into marijuana and hemp. Currently, the hemp segment is anticipated to grow at a higher CAGR of 53.1% throughout the forecast period. Hemp contains trace amounts of THC, whereas CBD is present in large amounts, thus CBD-based products are being used as a therapeutic vessel for several health conditions. “We’re witnessing CBD maturing from a cannabis sub-category into a full-blown industry of its own,” said Roy Bingham, Co-Founder and CEO of BDS Analytics. “Our growth forecast for the CBD market, across all distribution channels, predicts a compound annual growth rate of 49 percent by 2024. This is a great opportunity for all involved, but it means the road ahead will include decisions that need to be informed by the best possible data.”
Part of the spike in interest can be attributed to the passage of the 2018 Farm Bill, which legalized production of industrial hemp, transforming it into a mainstream agricultural product. Shortly after, numerous categories of CBD products started to appear. Now, the growing awareness about the therapeutic benefits of cannabidiol has influenced people to buy such products, even at relatively high costs. As a result, mainstream retailers are now focusing on selling CBD-based products, as these have a higher profit margin. Various health and wellness retailers such as CVS Health, Rite Aid, and Walgreens Boots Alliance have decided to sell CBD-based products. In fact, earlier last year, CNBC reported that Walgreens planned to sell CBD creams, patches and sprays in nearly 1,500 stores in select states.
For more information, please visit: TAAT Liefstyle & Wellness Ltd.
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