CBD maker Functional Remedies, Colorado, USA, has entered a distribution partnership with Lhasa OMS, a distributor of acupuncture needles, the companies recently announced.
The deal continues Denver-based Functional Remedies’ penetration of the health and wellness sectors in the U.S., as the company taps into the growing consumer trend toward alternative healthcare treatments — and provides a direct line into the rapidly expanding acupuncture market, the companies said.
Alternative health markets
“We look forward to continuing to expand our presence in and break through alternative additional health markets throughout 2019,” Functional Remedies CEO Anthony Mazzotti said.
The global acupuncture market is projected to be $24.5 billion by the end of 2023, with anticipated growth of 14.5% annually, according to Market Research Future (MRFR).
Lhasa OMS Vice President of Merchandising Mike Bailey called Functional Remedies’ lipid-infused hemp oil – “a natural fit for the acupuncturists’ arsenal.”