1933 suspends CBD division

Company cites decreasing demand, lack of regulation for suspension.

1933 Industries Inc. is suspending its Canna Hemp CBD consumer packaged goods subsidiary as it assesses the viability of the CBD market.

Canna Hemp, a national CBD brand, includes tinctures, gummies, topicals and sports recovery products.

The company said the market demand for hemp-infused CBD products has decreased since the COVID pandemic, citing increased competition, the closure of brick-and-mortar stores and customers exiting the CBD category.

1933 also pointed to the lack of federal rules on CBD products and the introduction of psychoactive delta-8-THC compounds into products as factors challenging the growth of the CBD market.

Alyse Thompson-Richards has held many positions with BNP Media, first serving as an intern at Candy Industry Magazine in summer 2012. She joined Candy Industry's staff full time as associate editor in August 2016 after a few years at newspapers in West-Central Illinois, becoming managing editor in March 2019. Alyse has also served on Cannabis Products Insider since March 2019. She has bachelor’s degrees in journalism and Spanish from Western Illinois University.