Benchmark Botanics’ business plan includes an international strategy to enter the Asia-Pacific market, in countries currently in the process of legalizing cannabis.
Consumer views of nutritional products as the key to managing health has been driving the global nutraceutical industry. Globally, the nutraceutical market was valued at USD 383.06 billion in 2017 and is expected to reach USD 561.38 billion by 2023, at a CAGR of 6.8% from 2018 to 2023.
Benchmark Botanics aims of becoming the first Canadian licensed producer to enter and sell nutraceutical cannabis in the Asia-Pacific. Benchmark plans to export nutraceutical cannabis and hemp products under a partnership, joint venture arrangement, licensing agreement, or by direct sales to countries that have legalized cannabis.
These initiatives are all part of the company’s plans to become a global leader in the industry.