NEW YORK, April 27, 2017 /PRNewswire/ —
According to a report published by Grand View Research, the global medical cannabis market is expected to grow from $11.4 billion in 2015 to $55.8 billion by 2025, with a compound annual growth rate of 17.1 percent during the forecast period. The report claims that the increasing number of countries and U.S. states legalizing medical cannabis is one of the factors that drive the growth in the market. Cannabis for medical use is now legal in 28 U.S. states, including Ohio, Pennsylvania, Florida, Arkansas and North Dakota, which legalized cannabis for medical uses in 2016. ChineseInvestors.com, Inc. (OTC: CIIX), Aurora Cannabis Inc. (OTC: ACBFF), Canopy Growth Corporation (OTC: TWMJF), Vitality Biopharma Inc. (OTC: VBIO), Kush Bottles, Inc. (OTC: KSHB).
Cannabidiol (CBD) is one of at least 113 active cannabinoids identified in cannabis. Unlike the compound tetrahydrocannabinol (THC), CBD is not psychoactive and has significant medical benefits. 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) on earlier this week announced, “An update on its financial and business achievements for the third quarter of 2017, as well as its outlook for the remainder of the current fiscal year and 2018.”
– Filed form 10Q with the