How Much of the U.S. Cannabis Growth Will Come From Recreational Use Market
Palm Beach, FL – (January 8, 2019) – Predictions for the worldwide growth of the cannabis industry show much optimism for both the recreational and medicinal cannabis segments. Worldwide projections see the North American market relying on recreational sales while the European markets will be in the medical arena. As recently reported in article published on FORBES, the North America’s cannabis market will go from $9.2 billion in 2017 to $47.3 billion in 2027. The article stated “According to Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%.” Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), Neptune Wellness Solutions Inc. (NASDAQ:NEPT), Aphria Inc. (NYSE:APHA) (TSX:APHA), Leafbuyer Technologies, Inc. (OTC:LBUY), KushCo Holdings, Inc. (OTC:KSHB).
Also according to the FORBES article, the largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027. The main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world.
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces that it has submitted its application to uplist to the OTCQB® Venture Market. The uplisting criteria require the Company to file financial and other reports to the Securities & Exchange Commission in a timely manner in addition to undergoing an extensive verification and certification process. The Company believes it meets all of the requirements for a successful uplisting.
“We are excited to submit our application to the OTCQB Tier, which has more stringent reporting standards and compliance requirements, and requires companies to maintain a minimum share prices and to be fully reporting,” states Cannabis Strategic Ventures CEO Simon Yu. “We have many new initiatives planned 2019 and we are managing our business operations for growth. This uplisting is designed to demonstrate to our investors and to the marketplace that Cannabis Strategic Ventures is well-prepared for the future.”
Companies that uplist to higher tiers typically provide investors with increased transparency, which can result in greater awareness and liquidity. For Cannabis Strategic Ventures, uplisting also supports the Company’s broader growth strategy, which includes its recent acquisitions of several hemp-derived cannabidiol (“CBD”) brands in the cannabis and ancillary sectors, including The Asher House Wellness, Fitamins, LYXR. The Company is also targeting several hard assets consisting of various growth facilities.
Cannabis Strategic Ventures believes cannabis industry growth will continue at a rapid rate, fueled by medical and recreational legalizations, as well as the recent passage of the 2018 Farm Bill. A 2018 report by Grandview Research predicts the global industrial hemp market size to reach US$10.6 billion by 2025, an amount propelled by increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products. Read this and more news for Cannabis Strategic Ventures at: https://financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
Neptune Wellness Solutions Inc. (NASDAQ:NEPT) closed up over 12% on Monday at $3.25 trading over 2.6 Million shares by the market close. The Company announce this week that it has received its license to process cannabis from Health Canada. “In 2017, we embarked upon a new strategic vision to position the Company in growth markets such as the legal cannabis market and to become a global leader in cannabis extraction, purification and formulation of value-added differentiated products. Since then, we have executed a carefully-planned roadmap to ready our significant manufacturing capacity for production, secure multi-year commercial contracts with great companies like Canopy Growth, and expand our strategic relationships, recently beginning a collaboration agreement with Lonza, a global market leader for the production of unique value-added capsules.
Aphria Inc. (NYSE:APHA) (TSX:APHA) closed up over 6% on Monday at $6.41 trading over 6.024 Million shares by the market close. The Company is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment.
Leafbuyer Technologies, Inc. (OTCQB:LBUY) closed up over 8% on Monday trading over 750,000 shares. Leafbuyer announced this week it launched Phase One of its multiphase blockchain initiative on December 20, 2018. This first phase integrates with the Company’s loyalty platform, Leafbuyer Loyalty. This launch creates the bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies. Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device.
KushCo Holdings, Inc. (OTCQB:KSHB) closed up over 3% on Monday at $6.01 trading over 1.1 Million shares by the market close. KushCo Holdings, Inc., the parent company of innovative industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Packaging Solutions, which provide a range of services and products for a variety of industries including the regulated cannabis and CBD industries, recently announced it will issue its fiscal first quarter 2019 results press release on January 8, 2019 after U.S. markets close. The company will also host a conference call on Tuesday, January 8, 2019 at 4:30 PM Eastern Time.
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