Opportunities

Halo Pharms' Strategic Advantage – Opportunities for Market Expansion

As Halo Pharms sets its sights on national expansion, it recognizes a unique opportunity to systematize efficacious cultivation and extraction methods in Alaska. Currently, the Alaskan cannabis landscape is characterized by numerous small, locally owned dispensaries and cultivators. While these businesses showcase a deep understanding of local dynamics and regulations, a significant portion faces challenges stemming from outdated and inefficient processes.

Many Alaskan cannabis cultivators continue to rely on antiquated practices such as hand-watering plants, leading to inefficiencies, unnecessary expenses, and a higher risk of errors. It is predicted that a significant number will close in 2024-2025. This highlights a broader issue faced by cannabis businesses in the region.

Recognizing the limitations of such practices, Halo Pharms stands poised to capitalize on market gaps created by struggling businesses. The company's commitment to modern, streamlined operations, including automated irrigation processes, positions it as a forward-thinking industry leader. As other businesses grapple with outdated methods, Halo Pharms aims to strategically expand into areas where former ventures have faced closure due to operational challenges.

Halo Pharms' emphasis on a vertically integrated model, encompassing cultivation, manufacturing, and retail, aligns with the success factors observed in resilient and growing enterprises. By addressing industry challenges and leveraging cutting-edge practices, Halo Pharms aims to not only navigate but thrive in the competitive cannabis market, establishing a solid foundation for national expansion.

Product Diversification: Catering to Evolving Tastes

Cannabis Edibles Market size was valued at USD 8.01 billion in 2022 and is estimated to observe around 16.5% CARG from 2023 to 2032

In response to the shifting preferences within the Alaskan cannabis market, Halo Pharms is strategically positioned to diversify its product offerings. While smoking cannabis flower remains a popular choice among consumers, the demand for alternative delivery methods, such as vaping, edibles (like gummies), and cannabis-infused beverages, is on the rise.

The growing preference among consumers for convenient, discrete, and smoke-free consumption techniques is the main factor driving the rise in demand for cannabis edibles. Cannabis edibles appeal to a wider range of consumers because they provide a food alternative to conventional smoking and vaping. Additionally, edibles’ precise dosing and longer-lasting effects, as well as the opportunity for a wide range of flavor and formulas, add to their increasing appeal, making them a crucial factor in the market for cannabis’ expansion.

Halo Pharms' vertically integrated model serves as the foundation for developing and distributing a wide range of cannabis products (gummies, cookies, candies, ice cream, fruit sodas, and seltzers), ensuring that the company can meet the diverse preferences of its customers. By embracing this approach, Halo Pharms not only adapts to the changing landscape of consumption habits but also positions itself to lead in satisfying the evolving demands of Alaskan consumers.

Brand Establishment: Paving the Way for a Multifaceted Presence

In its pursuit of becoming a Multistate, Multi-License Operator (MSO), Halo Pharms recognizes the importance of establishing robust brands across key facets of the cannabis industry—cultivation, retail, and infused products. This strategic move goes beyond the traditional focus on cannabis flower and extends to a comprehensive portfolio that encompasses diverse product categories.

By cultivating strong brands in each sector, Halo Pharms aims to not only meet but exceed customer expectations, ensuring a lasting and impactful presence in the market. This commitment to brand establishment aligns with the company's vision of providing a holistic and satisfying experience for consumers, solidifying its position as a leader in the dynamic and expanding cannabis landscape.