John Isner’s sponsorship deal shows that the CBD sector needs to be taken seriously and demonstrates the potential of companies like West Coast Ventures Corp. (WCVC).
- The cannabidiol business is expected to be worth US$ 130 billion by 2030.
- Companies from a variety of industries are adding CBD to their offerings.
- Sports stars and companies are beginning to understand CBD’s potential.
The CBD sector is easily the most interesting in the world today. America’s top tennis player, John Isner, recently signed a deal with Defy, a CBD-based sports beverage manufacturer. This move has helped propel CBD into the mainstream. Companies are also making ambitious moves. West Coast Ventures Corp. (WCVC) recently became America’s first bona fide CBD restaurant, with a fulltime CBD offering on the menu at all of their locations.
The company operates locations across Denver, and recently opened their first Illegal Pizza location in Florida, which also offers Illegal Brands CBD sachets and Illegal Brands CBD water. The company dedicates a portion of all their menus to explaining the potential health benefits of CBD and uses only high quality locally sourced ingredients.
John Isner’s partnership takes CBD mainstream
While CBD sponsorships have been a mainstream of MMA for some time, and certain individual sports stars have created, or sell, CBD products, John Isner’s partnership marks the first mainstream sport to have a high profile CBD deal.
Isner, world number 15, signed a contract with Defy, a CBD-based sports beverage manufacturer.
Defy’s logo, founded by former Denver Broncos player Terrell Davis, will appear on Isner’s cap and the agreement includes him bringing the drink to the court where he plays in the world’s biggest tournaments.
The value of the sponsorship is significant and is a logical step for Isner as he has publicly exposed his interest in the CBD. In the past, he has already talked about its potential benefits in helping muscle recovery during competition.
“I play a sport in which losing a single point can be the difference between winning and losing a game and Defy is a product specifically designed to allow me to be in the best way at every moment,” Isner said after signing the agreement. “I hope to help the brand get more people to perform better through CBD.
As medical marijuana obtains the necessary permits in different countries and emerges from illegality, the market for its derivatives will surely be one of the most interesting to invest in the world.
According to a study by Cowen & Co, 7% of Americans are already using some form of CDB products, which puts the potential market opportunity for the cannabis-based compound at about US$ 16 billion by 2025.
Another investigation, in this case from investment bank Jefferies Group, estimates that the global cannabis industry will reach a value of US$ 130 billion in the next decade. Thanks to the ongoing legalization progresses in the United States, Europe and Latin America. The same study says that the industrial sectors most benefited will be those related to pharmaceuticals, alcohol, health and wellness, and pet care.
Among the companies the study says that Canopy and Aurora are the “best positioned to dominate the world stage” in the coming years. In addition to Canopy Growth and Aurora Cannabis, Cronos Grop, Hexo Corp and CannTrust Holdings, West Coast Ventures Corp. among others are also set to do well.