Total Impact of Cannabis Market Projected to Reach $48 Billion In 2019
Palm Beach, FL – June 23, 2019 – The cannabis markets are growing like a weed in both the U.S. and global markets. Each projection seems to raise the ceiling even higher than before. A recent article in the Marijuana Business Daily projected that: “Total economic impact of the cannabis industry will range from $39.2 billion to $48 billion in 2019 – about a 35% increase over 2018… and the U.S. cannabis sales in 2018 were between $8.6 billion and $10.8 billion – more than U.S. spending on e-cigarettes, the video game Fortnite and Goldfish crackers… and U.S. sales of cannabis in 2019 will be about 35% higher than 2018 and could reach $30 billion by 2023. But are not just the industry giants that have green fields in front of them. Local dispensaries and recreational shops are a big part of the revenue tsunami. Another industry website laid forth the following industry picture and accompanying statistics: “As more states approve cannabis for use, an entirely new market has cropped up in the United States. Medical dispensaries, as well as recreational shops, are opening to supply marijuana to a broad base of consumers.” Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCQB: MCOA), Hemp Inc. (OTCPK: HEMP), Medical Marijuana, Inc. (OTCPK: MJNA), Sipp Industries, Inc. (OTCPK: SIPC), Smart Cannabis Corp. (OTCPK: SCNA).
The article also reported that: “Sales of legal cannabis in the U.S. amounted to nearly $10 billion in 2018 alone. Most of us already realized that the marijuana industry was huge, but this figure tells us just how expansive it is. The cannabis market is expected to grow at a rate of 21% per year between now and 2021. This will mean that in three years’ time, the marijuana industry will be pulling in about $23 billion per year in revenue.”
Marijuana Company of America, Inc. (OTCQB: MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce the prelaunch of cannabis delivery service Viva Buds Inc. in the San Fernando Valley in Los Angeles, California, with sign-ups now available on its website at https://vivabuds.com.
Viva Buds’ staff and marketing team have successfully initiated the prelaunch for prospective customers ahead of its official 2019 launch date. By signing up for free for the Viva Buds prelaunch, customers will have the opportunity to make referrals before the actual launch date. Viva Buds will offer customers a dynamic opportunity to purchase low-cost premium cannabis products and utilize the “call your friend” approach to build their own personal business. Viva Buds will have its own user-friendly app and will utilize its strategic partnership with MassRoots Inc. (OTCPK: MSRT) to reach out to thousands of its social media followers, beginning in the San Fernando Valley.
In March, Natural Plant Extracts of California (“NPE”) and MCOA announced they had established a joint venture to form Viva Buds, sharing the net profits on a 50-50 basis. NPE will manage all operations pertaining to distribution, manufacturing and delivery of cannabis products, and MCOA will provide capital, consulting and marketing services. Additionally, MCOA is the direct owner of 20% of NPE.
“Our management team is excited to provide this innovative opportunity to future customers of Viva Buds in one of the largest U.S. markets for recreational cannabis,” said Mr. Don Steinberg, CEO of Marijuana Company of America.
“We are excited to be a partner in what we believe will be a game changing and disruptive delivery model in the marketplace,” said Mr. Alan Tsai, CEO of Natural Plant Extracts of California. “We offer an incentivized program that is mutually beneficial for our customers as well as the company. We are confident this adds a lot of unique value and will position Viva Buds as a key player in the delivery sector.”. Read this and more news for MCOA at: https://financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Medical Marijuana, Inc. (OTCPK: MJNA) the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, recently announced that that its subsidiary Kannaway® has appointed Janne Heimonen as Managing Director of its burgeoning European Division.
Kannaway® currently ships its products to many countries within the EU. The company is working to expand access to CBD and hemp throughout Europe and has grown to a nearly $40 million revenue run rate since its official launch in 2018. Kannaway® will focus its next international expansion in Asia, targeting Japan as its first Asian marketplace.
Hemp, Inc (OTCPK: HEMP) a global leader in the industrial hemp industry with bi-coastal processing centers including the 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, a state of the art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona, recently announced the Company has been featured in the Mohave Daily News and CBD Today.
The Mohave Daily News article titled “”Hempathon” contest planned for Golden Valley” explores the Hempathon in Golden Valley, Arizona and what participants of the historical and unique contest can expect. During the interview with the publication, CEO of Hemp, Inc. Bruce Perlowin, discusses the various aspects of the Hempathon, cost, production expectations and more. Additionally, Perlowin informed the publication that Arizona is slower than expected at delivering the licenses and the start date for the Hempathon will be announced when the location is fully-licensed.
Sipp Industries, Inc. (OTCPK: SIPC) a corporation specializing in manufacturing and distribution of commercial and consumer products, and the first publicly traded company in America whose primary focus is the production and sales of hemp-infused beer, recently announced it has signed a national agreement with Nine Band Brewing Company (“Nine Band”). This new agreement vastly expands the production capacity for flagship brew Major Hemp HIPA, while extending the geographic reach and distribution footprint.
Nine Band Brewing Company is based in Allen, Texas, located just north of the greater Dallas area. Its sprawling brewhouse spreads out over 5,000 sq. ft and boasts an annual capacity exceeding 10,000 bbls. Nine Band produces a variety of beers including Brown Ale, Pale Ale, Hefeweizen, Kolsch, Stout as well as a bevy of unique brews such as Barley Wine and Honey Blonde. Nine Band is owned and operated by Keith Ashley in partnership with head brewmaster, Ian Larson, who has traveled the world honing his award-winning brewing skills
Smart Cannabis Corp. (OTCPK: SCNA) closed up over 38% on Monday trading over 9.2 Million shares by the market close. Smart Cannabis Corp. is a made up of a highly focused individuals that have a successful track record of building and growing companies. The company’s executive team previously helped build at least one “bell weather” cannabis sector company. Smart Cannabis became profitable after approximately 90 days. Its headquarters and subsidiaries – Next Generation Farming and Sap Investments – are based in Northern California, considered one of the most lucrative markets for cannabis industry.
The company is poised to continue its growth through its proprietary SMARTAPP software, establishing viable, wholly owned subsidiaries, and by increasing sales and expanding market share for its SMART by Design line of automated greenhouse systems. The company’s target markets are the explosive cannabis industry and commercial scale organic food production and medicine science.
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