CBD, also known as cannabidiol, is the non-psychoactive compound that derives from the cannabis plant. Its holistic and functional benefits make it a highly sought after ingredient across a wide range of products from cosmetics to food and beverage, and even pharmaceuticals.
As regulations ease and consumer’s interests grow, companies and restaurants are starting to capitalize on this growing industry.
In light of the functional food movement, GenTech Holdings Inc is creating a nation-wide chain of ‘Hemp Centric Coffee Shop Retail Spaces’ in the US under the name ‘The Healthy Leaf.’
Its flagship café and the first one to market will be located in the heart of downtown Montclair New Jersey. David Lovatt, the CEO, claims the metropolitan environment will provide a booming clientele for this highly anticipated industry.
“After exploring a number of possibilities, Montclair offers the best demographic, socio-economic, and cultural context for GenTech to kick off its dominant market positioning for the CBD-infused café market under the Healthy Leaf brand,” said David Lovatt, CEO of GenTech. “The town is home to a population in excess of forty thousand, with extremely strong median incomes, a perfect progressive cultural tone, and exceptional consumer foot traffic patterns.”
Each café will also provide patrons with holistic education and classes on the benefits of CBD-infused products which are commonly associated with decreasing anxiety and chronic pain or as some claim ‘coffee without the jitters.’
Furthermore, the company is also working on an extensive outreach program alongside medical practitioners in the US to educate patients on the benefits of ‘THC-free CBD Products.’
CBD’s overall market value in the US is anticipated to reach 20 billion in sales by 2024, according to BDS Analytics, a market research company that studies the evolving cannabis retail industry.
These findings alone make it no surprise that the food and beverage industry is fighting for its forkful of market share. Coffee’s reputation as one of the most sought-after commodities along with CBD’s forecasted market growth creates a promising combination for food and beverage businesses to invest in.
As of now, The Healthy Leaf café hopes to finalize a contract with a premium coffee supplier next week and tea suppliers within the next two weeks. A Columbian chocolate supplier has already been selected and a contract is currently being established. The company is also undergoing negotiations with a CBD infusion partner whose name is yet to be specified.
In addition, the leasing for the New Jersey-based café has officially been signed and the draft of the café’s design is expected to be finalized within the next 14 days with build-out beginning mid-July.