SANTA BARBARA, Calif., May 18, 2022 /PRNewswire/ — Bloomios, Inc. (OTCQB: BLMS), a leading hemp and nutraceutical manufacturer specializing in full-service product development, R&D and compliance solutions, has completed a major manufacturing systems expansion and running the company in its new state-of-the-art 50,000 sf. manufacturing plant at Daytona Beach, Florida.
We continue to see strong growth and market share expansion in 2022
The expansion increased manufacturing and fulfillment capacity by approximately 300%, while reducing operating costs. It now supports more than 80 turnkey products in seven popular format categories, as well as the company’s plans to enter new verticals.
Bloomios estimates that the new equipment has increased overall capacity by around 300%, while enabling many process improvements. By the third quarter of 2022, the company plans to increase its infused gummies production capacity to exceed over one million gummies per day or a 5x increase in production capacity from current levels.
“Our first quarter was a period of transition as we completed the first phase of our expansion and retooling of our manufacturing facility for strong growth this year,” Bloomios CEO said. Michael Hill. “While the downtime has resulted in lower revenue in the recent period, we expect to substantially offset this in the coming quarters by bringing our larger manufacturing capabilities online.”
Bloomios is currently adding two new fully automated stand-alone filling systems to increase its filling capacity to over 30,000 containers per day with 10 operators. By the third quarter, it plans to increase its production capacity to more than 45,000 containers per day.
“We don’t believe these additions require any further downtime or affect our current production,” Hill noted. “In fact, we are already seeing our enhanced production capacity and greater efficiency positively impacting our revenue and gross margins. These improvements and Bloomios one-stop-shop ‘from concept to creation’ set of capabilities make us the ideal turnkey solution provider for brands looking to capitalize on today’s booming market for hemp-derived products.”
Late in the first quarter, Bloomios announced its entry into the growing sports and performance nutrition market. It is also actively pursuing potential acquisitions in what it sees as a target-rich M&A environment.
Bloomios caters to a North American CBD market that is expected to grow at a CAGR of 33% to reach $61.3 billion by 2027. The alternative cannabinoid market is also growing rapidly at a CAGR of 20% and is expected to reach $26.2 billion by 2028.
Hill concluded, “Given our increased manufacturing capacity, which expands our ability to rapidly create and launch products in these high-growth markets, we continue to see strong growth and market share expansion in 2022. .”
Bloomios, Inc. manufactures, markets and distributes hemp-derived nutraceuticals and supplements in the United States through wholesale distribution channels and its wholly owned subsidiary, Bloomios Private Label. The Company provides custom formulation, brand development, manufacturing and order fulfillment to a wide variety of customers, including small and large brands, chain stores, vape shops and distributors. It offers private and white label customers a wide selection of over 80 customizable hemp products in seven categories. Bloomios is headquartered in Santa Barbara, Californiawith manufacturing and distribution in Daytona Beach, Florida. To learn more, visit bloomios.com.
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SOURCE Bloomios, Inc.