NEW YORK, August 7, 2017 /PRNewswire/ —
A market report by Ameri Research Inc. indicates that the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the projected demand of cannabis will continue to rise for both recreational and medical use with estimated global sales value to reach $63.5 billion. The legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns across North America and Europe. Ameri Research also explained that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized. ChineseInvestors.com, Inc. (OTC: CIIX), Hemp Inc. (OTC: HEMP), American Cannabis Company, Inc. (OTC: AMMJ), Terra Tech Corp. (OTC: TRTC), Medical Marijuana, Inc. (OTC: MJNA).
A major component of the legal cannabis industry is the CBD market. Matt Karnes of Greenwave Advisors has commented about the growth of the CBD market saying, “In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now, there are 15 states that allow CBD only – this is in addition to the 28 states plus DC that have legalized medical marijuana,” Forbes reported. Outco, the largest licensed cultivator in Southern California learned that 38% of users and non-users said they wanted to learn more about CBD oil. Forbes indicated that Outco also believes the market is poised for growth.
ChineseInvestors.com, Inc. (OTCQB: CIIX) earlier today announced, “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