CBD firms lead list of dietary supplement players recognized for rapid growth

12-Aug-2020 - Last updated on 12-Aug-2020 at 15:33 GMT

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A number of companies active in the dietary supplement industry have landed on the Inc. 5000 list of fastest growing privately held firms.

Dynamic Blending Specialists of Vineyard, UT, made the No. 17 spot on the listing. According the business magazine’s annual tally, Dynamic Blending showed growth of 11,491% over the past year.

“Creating compelling products that meet market demand is our goal and we are making it happen for emerging as well as larger companies,” said Gavin Collier, Dynamic Blending’s CEO.

Dynamic Blending says it has achieved its stellar growth with a commitment to serving the emerging entrepreneurial market. The company says it has a low minimum order limit of as few as 1,000 bottles and that it has a client list of more than 400 firms. Dynamic Blending claims to be able to take a product from preliminary concept to finished good in about half the industry average time.

Omega-3s firm makes list

Another dietary supplement industry service provider that made the list is OmegaQuant, based in Sioux Falls, SD. The company was founded by William S. Harris, PhD, one of the world’s leading omega-3 experts and a faculty member at the Sanford School of Medicine at the University of South Dakota. Along with a collaborator, Harris invented the Omega-3 Index, a handy way to measure levels of EPA and DHA in blood tissue, and invented a simple and inexpensive test that his firm markets.

This is the second year in a row OmegaQuant has earned a spot on the Inc. 5000 list, ranking No. 2,863 and reporting 140% growth.

“We continue to build the evidence base for the Omega-3 Index by working with some of the most prestigious research institutions in the world. To date, we’ve worked with more than 100 of them, including the US Army, Harvard, Tufts, Columbia, Stanford, Oxford and more,” Harris said.

“We believe in the power of the Omega-3 Index not only to assess one’s status, but also to arm them with important information about their diet and lifestyle. The Omega-3 Index has real clinical implications, particularly for heart and brain health, and we’re proud of how well it has been received by the medical and scientific communities, as well as by individuals,” he added.

“Receiving this award last year and now this year is further proof that we are on the right track as a business,” said CEO Jason Polreis.

CBD firms are the big winners

Another category of big winners on the list is made up of hemp/CBD firms. While CBD at the moment is considered by FDA not to be a legal dietary ingredient, that hasn’t stopped dozens of new firms cropping up and the appearance on the market of thousands of products containing CBD or full spectrum hemp extracts that are sold as dietary supplements.

Leading the list of fastest growing firms active in the hemp/CBD space is CannaSafe, an analytical lab based in Van Nuys, CA. CannaSafe was ranked No. 13 on the list with 12,143% growth. CannaSafe claims to be ISO:17025 certified.

Topping the ranking of fastest growing privately held hemp/CBD manufacturing firms nationwide was a Colorado company, NuLeaf Naturals, based in Denver. The company was reported to have shown 11,495% growth, which placed it at No. 16 on the list. NuLeaf Naturals manufactures a line of full spectrum CBD products packaged in dropper bottles. The company advertises that its hemp is 100% organic and is extracted with supercritical CO2.

Another Colorado CBD firm was not far behind. Hemp Depot, based in Colorado Springs, bills itself as ‘Wholesale and White Label CBD Experts.’ According the Inc. info, the company showed 7,557% growth which was good for No. 32 on the list. Hemp Depot offers a variety of isolated cannabinoid ingredients, including CBD, CBD, CBG and CBN products in delivery systems that include gummies, softgels and capsules. The company also formulates pet products.

Nature’s Fusions, based in Orem, UT, manufactures essential oils and hemp extracts. The company was ranked No. 355 on the list with 1,282% growth. Like some other hemp extraction firms, Nature’s Fusions has also pivoted into hand sanitizer production.

The Inc. 5000 companies, representing 49 states, Puerto Rico, and the District of Columbia, combined generated $209 billion in 2019 revenue, accounting for more than 1 million jobs over the past three years. Companies recognized on the list in the past that have gone on to become household names include Microsoft, Patagonia and Under Armour.