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26. May 2020
Consumer Products Market Watch News Production

CBD Companies Continue to Diversify into the Hand Sanitizer Market

Mountain High Acquisitions Corp. (OTCQB: MYHI) has revealed that its wholly-owned subsidiary GPS Associates, Inc. (GPS) has expanded its operations to include the production of an alcohol-based medical grade hand sanitizer at its cGMP, FDA-registered facility in Santa Ana, Calif.  The company’s two state of the art bottling lines are now installed and ramping up into production—anticipating the capacity to produce approximately 2 million bottles of hand sanitizer per month.  

Current demand has created shortages of hand sanitizer worldwide, and companies like ours are in a unique position to help,” said Paul Gaudreau, CEO of GPS.  “With our cGMP, FDA-registered manufacturing facilities already in place and an agile product development team comprised of world class chemists and herbalists—we are determined to meet this challenge head on and be part of the solution.”

The medical grade hand sanitizer in production at GPS is rolling out as a white labelled product through a wide variety of wholesale partners and mass retail chains, but its own GuardRx brand of hand sanitizer can also be purchased directly online by the bottle or by the case and is available in 3 sizes for convenience and portability.

We certainly have the capacity to handle very large wholesale orders for major retailers currently seeking to roll out their own private label hand sanitizer products nationwide, but we felt that it was equally important to meet the needs of individuals and families who would like to have hand sanitizer delivered directly to their home or business,” said Gaudreau.

GuardRx, from GPS, is an alcohol-based hand sanitizer—proven to be 99.9% effective against most germs and contains glycerin and Vitamin E to protect the skin from over-drying.  Consistent with the company’s CBD product offering, GuardRx is formulated to include powerful botanical constituents such as red thyme oil, which has exceptional antiviral, antimicrobial, and antiseptic properties.

Whether we’re formulating hemp-derived CBD personal care products or personal hygiene products like hand sanitizer, our team is committed to creating thoughtfully-designed, premium quality products,” added Gaudreau.

GPS annual revenues for 2019 totalled just over $1,600,000 and in the first four months of 2020 alone the company’s revenues exceeded $3,600,000.

A report released May 11, 2020 by Fortune Business Insights, states that on account of current market conditions, the hand sanitizer market annual growth rate is expected to see a tremendous increase— from 5.06% to 45.71%— starting this year.

Source | Mountain High Acquisitions Corp