NEW YORK, May 4, 2016 /PRNewswire/ --
It is a rare opportunity when a market that is potentially worth hundreds of billions of dollars is virtually untouched by large companies. While the number of states where the growth and sales of Cannabis products remains limited, the majority of the population in the United States approves the end of federal marijuana prohibition nationwide. For now, in states where cannabis is a legitimate and legal product, sales are through the roof.
A recent report by New Frontier and ArcView Market Research has revealed some very impressive numbers. Sales of legal cannabis products increased by 17% in 2015, rehearing $5.4 billion, and sales are expected to increase by 25% in 2016, reaching a total value of $6.7 billion. An unprecedented achievement for an industry in which the first legal dispensaries opened two years ago. Jumping to 2020, total sales across the U.S are expected to reach 22 billion.
According to projections Washington State is expected to be the largest legal sales market by 2020, with estimated $2.3 billion of total sales. In 2015 alone legal sales of marijuana products totaled more than $709 million in Washington State, which is an increase of 242% over 2014. The vibrant market and the high probability of sales growth continuously attracts new businesses in the marijuana market to the state, like Diego Pellicer Worldwide, Inc. (OTCQB: DPWW), which is expected to open their flagship retail store in Seattle soon.
Diego Pellicer Worldwide, is a real estate and a consumer retail development company that is focused on developing Diego Pellicer as the world's first "premium" marijuana brand by adhering to the highest quality and standards for its facilities along with both cannabis and non-cannabis products. A near term catalyst for the company is the opening of their first flagship retail store in Seattle.
The company's initial focus is to acquire and develop legally compliant real estate locations for the purposes of leasing them to state licensed companies in the cannabis industry. Diego Pellicer Worldwide profits from the lease payments of our real estate holdings and from the sale of our branded, non-cannabis products. The company leases legally compliant locations for retailing, medical dispensing of marijuana, and is also involved in café operations of non-infused products as well as in ancillary products including branded apparel. For more information about the company please visit: http://DiegoPellicer.com
The cannabis industry is fragmented into many sectors, real estate and retail as we have seen with Diego Pellicer, but also Pharmaceuticals. GW Pharmaceuticals PLC (NASDAQ: GWPH) recently announced the successful completion of their phase 3 trial for the treatment of Dravet syndrome - a rare and severe form of epilepsy in children with no FDA-approved treatments. The company's investigational medicine Epidiolex® proprietary cannabinoid product platform. Shares of the company jumped 120% after the announcement on March 14.
Other sector companies worth a look are Terra Tech Corp (OTCQX: TRTC), operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
Medical Marijuana, Inc. (OTCMKTS: MJNA), wants to be the premier cannabis and hemp industry innovators, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
General Cannabis Corp (OTCQB: CANN), is the all-in-one resource for the highest quality service providers available to the regulated Cannabis Industry. They are a trusted partner to the cultivation, production and retail side of the cannabis business. They do this through a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries.
Recreational marijuana is legal in just four states - Alaska, Colorado, Oregon and Washington -Twenty other states and Washington D.C. have legalized medical marijuana. It is widely that over time marijuana will be regarded as an accepted substance, and the federal marijuana prohibition will end nationwide in the near future.
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