Grove Inc. Launches Qubes Plant-Based Vitamin Gummy Brand
July 06 2021 - 7:00AM
via NewMediaWire -- Grove, Inc. (NASDAQ:GRVI) expands into the
rapidly growing plant-based market for gummy vitamins with their
newest product line, Qubes.
The brand currently offers customers unique
products from Apple Cider Vinegar + Acai, Turmeric Immunity, and an
upcoming Algae Oil supplement that will act as a plant-based
alternative to fish oil for daily Omega-3 intake.
Qubes gummies are completely free of
preservatives, chemicals, corn syrup, allergens, soy, dairy, wheat,
salicylates, artificial ingredients, artificial sweeteners, flavors
or colors.
This newest launch is set to take advantage of the
growing demand in the vitamin space.
“The global gummy vitamins market size is
estimated to be valued at USD 5.9 billion in 2020 and projected to
reach USD 10.6 billion by 2025, recording a CAGR of 12.5%”
-- https://www.reportlinker.com/p05978377/
The plant-based segment is a new product line in a
rapidly expanding market with great growth and opportunity. Qubes
Brand can only enhance the company’s product offering for
Plant-Based and CBD-based products.
CEO Allan Marshall stated, “The launch of Qubes is
another positive step towards our expansion into multiple
verticals. Grove Inc. is not just a CBD company and we will
continue to expand our reach into profitable markets.
Our Direct To Consumerstrategy will continue to drive
our future growth and continued profitability.”
“The plant-based segment is projected to grow at
the highest CAGR during the forecast period. Consumers increasingly
prefer adopting vegan and vegetarian lifestyles. Due to these
factors, manufacturers in the global gummy vitamins market are
producing gummies with agar-agar and xanthan gum, and plant-based
alternatives to avoid the use of gelatin. As the consumers in the
global market are increasingly shifting toward plant-based sources
of products, the market is projected to grow at a higher pace.”
- https://www.reportlinker.com/p05978377/
The company continues to build its reputation
amongst consumers, offering free trials of products and
establishing a loyal customer base.
“Here at Qubes, we’re dedicated to taking the
“less is more” approach to health and wellness. We focus on
creating formulations centered around innovative ingredients, to
make our gummies simple yet effective. We source our ingredients
meticulously and with great care, to ensure purity and quality.”
- GetQubes.com
About Grove, Inc.
Grove, Inc. is in the business of developing,
producing, marketing and selling raw materials, white label
products and end consumer products containing the industrial hemp
plant extract, Cannabidiol (“CBD”). The Company sells to numerous
consumer markets including the botanical, beauty care, pet care and
functional food sectors. It seeks to take advantage of an emerging
worldwide trend to re-energize the production of industrial hemp
and to foster its many uses for consumers.
Forward-Looking StatementsThis press
release contains statements that constitute "forward-looking
statements," including with respect to the Company's product
development, business strategy and growth of plant-based segment.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and prospectus for the offering filed with the SEC.
Copies are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Company Contact
Andrew
NorstrudEmail: investorinfo@cbd.ioPhone: (702) 332-5591
Investor Relations Contact
TraDigital IRJohn
McNamaraEmail: john@tradigitalir.comPhone: (917) 658-2602
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