Neptune Wellness could be a good stock to buy as the hand sanitizer market picks up

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The health and wellness company with its hand in cannabis could see huge gains this year

Among the products that have experienced an increased demand due to the impact of the coronavirus pandemic, personal hygiene and cleaning products are at the top of the list. People will continue, moving forward, to add new healthy measures to their routines and change the way they interact with others. Carrying a hand sanitizer when not at home is something that has been a trend during the past couple of years, and now its demand is even higher due to the effects of the pandemic. The cannabis industry has already participated in this industry that is bound to be worth $2.8 billion by 2030, and Neptune Wellness is positioned to be an investment with low risk and the possibility of high returns.

There are multiple ways in which Neptune can produce solid returns besides the hand sanitizer products. Back in June, Neptune announced that it was bringing a new line of scented plant-based hand sanitizer products to the market, and these products will also have oils and aloe vera included. This effort is possible thanks to the partnership Neptune has with International Flavors & Fragrances, and the products are programmed to hit the market by the end of the second quarter of fiscal 2021 year, which concludes on September 30.

This venture is already booming as a result of its cannabis operations. Now, these new products seem like a great way for the company to diversify its operations and complement its growing business. Neptune works mainly with extraction and purification services and helps provides cannabidiol (CBD) for companies to create CBD edibles.