The Demand for Legal Cannabis Products are Expected to Grow
FinancialBuzz.com News Commentary
Mar 19, 2018, 09:00 ET
NEW YORK, March 19, 2018 /PRNewswire/ --
According to data published by Energias Market Research, the global medical cannabis market is expected to grow significantly from USD 8.28 billion in 2017 to USD 28.07 billion in 2024 and at a CAGR of 19.1% from 2018 to 2024. Factors driving the development of the medical cannabis market include increasing recognition of medical benefits, growing demand for cannabis in the treatment of various diseases, and rising number of research and development activities. In the U.S, there are 28 states which have approved the use of cannabis for medical purposes. In major markets like Colorado, California, Alaska, Massachusetts and Nevada, cannabis is legal for recreational use. HQ Global Education Inc. (OTC: HQGE), Hemp, Inc. (OTC: HEMP), CV Sciences, Inc. (OTC: CVSI), Cannabis Sativa, Inc. (OTC: CBDS), Medical Marijuana, Inc. (OTC: MJNA)
Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained: "Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe… The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond from Nevada's tourism, and California and Canada planning to launch Adult-Use sales in 2018."
HQ Global Education Inc. (OTC: HQGE) on March 13th announced with Hemp, Inc. (OTC: HEMP) that it has signed a consulting agreement with HQ Global Education, Inc. a scientific research development company, to provide consulting services in an effort to help HQ Global Education, Inc. expand into the hemp-CBD industry. According to the agreement, HQGE will receive professional, ongoing, consulting services in the hemp-CBD market, specifically in the areas of growing high quality organically-grown CBD-rich hemp, harvesting, extracting and creating a variety of high-end CBD products for its business and partnerships in the industry.
Bruce Perlowin, CEO of Hemp, Inc. said, "This agreement with HQ Global Education, Inc. is a natural fit for both our companies and the timing couldn't be better. The hemp industry is projected to grow 700% and hit $1.8 billion by 2020." This statistic includes the all-natural, non-psychoactive supplement cannabidiol (CBD) that is derived from the industrial hemp plant. Cannabidiol helps boost both human and animal endocannabinoid systems. With CBDs taking America by storm due to its medicinal and health benefits, HQ Global Education, Inc. executives feel this is the perfect time to enter the market. The enormous growth potential of the CBD market will provide HQ Global Education, Inc. with a pipeline of opportunities they can take advantage of by using their extensive industry research and voluminous body of information on specific CBD combinations through their Educational and Extraction divisions.
CBD is one of the more than 85 cannabinoids so far identified in marijuana and hemp. Unlike the better-known compound tetrahydrocannabinol (THC), CBD is not psychoactive, meaning it won't cause a high. However, thousands of studies have demonstrated that CBD clearly possesses a potent array of therapeutic benefits, including antioxidant and neuroprotective properties.
CBD that is derived from hemp is legal to import and purchase in all 50 U.S. states, without a prescription. Additionally, cannabidiol itself isn't listed in the Controlled Substances Act like THC and marijuana. With the recent influx in competition and a lack of regulation, consumers must educate themselves to ensure they are buying high-quality CBD. Hemp, Inc.'s NuAxon Tech CO2 Supercritical Extractor, housed in its 85,000 square-foot multi-purpose industrial hemp processing facility, in Spring Hope, North Carolina, utilizes a super extraction process to extract the purest, healthiest oils.
The overall plan from this signed consultant agreement is to eventually joint venture with HQ Global Education, Inc. whereby Hemp, Inc. will house and operate a HQ Global Education, Inc. CBD extractor in its 85,000-square foot facility. Now that Hemp, Inc. has created its Industrial Hemp Manufacturing and Processing Infrastructure (Division One), the company is now focusing its attention on its Hemp Oil Extraction Infrastructure (Division 2), thus creating a perfect time window for the two companies to combine their strengths and assets."
"Hemp, Inc.'s Division One is up and running strong. We are producing and selling Spill-Be-Gone, fiber, and LCMs and we have hundreds of thousands of pounds of LCMs in inventory on top of the millions of pounds of Kenaf that we are processing on a daily basis. Going forward, we are now focused on building out the hemp CBD extraction infrastructure. Our strategy is to build the world's largest Hemp Oil Extraction Infrastructure by using multiple companies… the first of which is HQ Global Education, Inc. We're creating an infrastructure comprised of a network of joint ventures by housing HQGE's future extractor at the largest multi-purpose industrial hemp processing facility in North America. This allows the timeframe to manufacture and market CBD products to be greatly reduced and we expect to see product and revenues for HQ Global Education, Inc. in record-breaking time. With experts already on hand, this makes perfect sense to benefit all of our stakeholders involved." said Perlowin."
Hemp, Inc. (OTC: HEMP) is a global leader in the industrial hemp industry with the largest hemp mill in the western hemisphere. The company recently announced that it is set to grow up to 25,000 acres of industrial hemp this year thus making North Carolina the "Epicenter of the Industrial Hemp Industry". According to Hemp, Inc. representatives, the 25,000 acres, to be grown, are more than what the entire country grew last year alone. The large amount of acreage is expected to improve farmer profitability as well as boost the overall economy by opening up new revenue streams in the marketplace for buyers and farmers seeking higher quality products.
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences' Pharmaceutical Division is developing synthetically‐formulated cannabidiol‐based medicine, pursuing the approval of the U.S. Food and Drug Administration (FDA) for drugs with specific indications utilizing cannabidiol as the active pharmaceutical ingredient. CV Sciences has achieved promising preclinical results in the development of cannabinoid medicines for treatment of a range of medical conditions. CV Sciences' Consumer Products Division delivers botanical‐based cannabidiol products that enhance quality of life. Currently distributed nationally in health food stores, health care provider's offices and online, each consumer products brand is backed by a formal safety review, growing body of case reports, and physician's recommendations.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. CBDS licenses the "hi" and "White Rabbit" brands, holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, owns patent pending and trade secret formulas and processes, offers the hi benefits discount pharmacy card, and operates subsidiaries including: PrestoDoctor, Wild Earth Naturals, , and iBudtender. In 2017, the company announced that its subsidiary, PrestoDoctor, is expanding its online medical marijuana recommendation services into New York. PrestoDoctor currently serves patients via both their online platform and with dispensary kiosks operating in California and Nevada and will now extend their online services to patients located in the State of New York.
Medical Marijuana, Inc. (OTC: MJNA) is the first publicly traded cannabis company in the United States. Recently, the company announced that its subsidiary Dixie Botanicals® has released two new flavors of its popular Kicks CBD hemp oil energy chews. Formulated to capitalize on the balancing effects of CBD, Dixie Botanicals® Kicks, now available in two new flavors, Sour Apple and Citrus Mango, are the healthy way to give yourself a boost of energy when you're on the go. Each bite-sized Dixie Botanicals® Sour Apple Energy Chew is enriched with CBD hemp oil and 100mg of caffeine, about as strong as a cup of coffee. The controlled release of caffeine provides sustainable energy without the crash or any of the extra calories that come with other energy drinks and supplements.
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