NEW YORK, August 9, 2017 /PRNewswire/ —
According to a research by Arcview Market Research, CBD and legal cannabis products are forecast to reaccelerate in the beginning of 2018. The sales of products for legal recreational use will increase in Canada, California, and Massachusetts, along with medical sales in Florida. This growth will push the $6.7-billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. According to the report, the 20+% annual growth rate is likely to continue for many years past 2021, as more states and countries legalize cannabis. ChineseInvestors.com, Inc. (OTC: CIIX), Hemp, Inc. (OTC: HEMP), Terra Tech Corp. (OTC: TRTC), American Cannabis Company, Inc. (OTC: AMMJ), OWC Pharmaceutical Research Corp. (OTC: OWCP).
A significant portion of the total legal cannabis market is the CBD market. According to Hemp Business Journal, the total retail value of hemp products sold in the U.S. in 2016 reached $688 million, while the growth of Hemp CBD contributed significantly to the total sales. Sean Murphy, the Founder and Publisher of Hemp Business Journal, said, “We estimate the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products. The data demonstrates the hemp industry is growing quickly at 22% five year CAGR and being led by food and body care products, with Hemp CBD products showing a 53% AGR.”
ChineseInvestors.com, Inc. (OTCQB: CIIX) announced earlier this week that it has appointed Keevin Gillespie acting President of its wholly-owned subsidiary, ChineseHempOil.com, Inc., effective immediately. Mr. Gillespie will report directly to CIIX CEO, Warren Wang, and will be responsible for overseeing new business development, marketing and company operations throughout the North American market. Mr. Gillespie’s initial focus will be on promotion and branding of the Company’s newly launched health product line, ‘OptHemp’, which will be marketed through multiple