Recent Data Projects Growth in the Legal Cannabis Market
NEW YORK, March 22, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to a report by the New Frontier Data, the legal cannabis market was worth an estimated $6.6 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR) of 16% or reaching more than $24 billion by 2025. The medical cannabis market is projected to grow at 12% CAGR through 2025, or growing from $4.7 billion in 2016, to an estimated $13.3 billion in 2025. These projections do not include assumptions for additional states, which may come into the picture before 2025. ChineseInvestors.com, Inc. (OTC: CIIX), MassRoots Inc. (OTC: MSRT), 22nd Century Group Inc. (NYSE: XXII), United Cannabis Corporation (OTC: CNAB), CV Sciences Inc. (OTC: CVSI)
New Frontier CEO & Founder Giadha Aguirre De Carcer pointed out the work that was done in Washington State in their approach towards the legal cannabis market, and the possible similar achievements of other states in the future. "We applaud, in particular, the work of Washington state which has set the gold standard in transparency by making all the data collected by its seed-to-sale system publicly available. This level of transparency is enormously valuable as it enables all stakeholders across the industry, including operators, investors, regulators and policymakers to have a quantifiable view into this highly dynamic industry," said Giadha Aguirre De Carcer.
ChineseInvestors.com, Inc. (OTCQB: CIIX) is a premier financial information website for Chinese-speaking investors. On March 20th, the company announced, "that it has established and registered XiBiDi Biotechnology Co., Ltd. in the Pudong Free-Trade Area in Shanghai, with registered capital requirements of $1.45 million USD over the next 10 years. XiBiDi Biotechnology will focus on the online and offline sales of health products including hemp-derived CBD (cannabidiol) oil, as well as hemp-based food and beverages. Notably, the Chinese character 'XiBiDi' is homophonic to 'CBD' in English."
"I am delighted about the establishment and registration of our new hemp company," says CIIX founder and CEO, Warren Wang. "XiBiDi Biotechnology is strategically located in the Pudong Free-Trade Area of Shanghai, China, where we have the opportunity to reach a consumer base of nearly 1.4 billion people. We believe that this large population affords XiBiDi an outstanding opportunity to be the provider of choice for natural hemp products."
ChineseInvestors indicated that, "XiBiDi Biotechnology will be the operator of CIIX's recently launched CBD online store, www.ChineseCBDoil.com , which will primarily focus on selling, where legal, hemp-based CBD nutrient and health products to Chinese-speaking customers worldwide through the online retail process. CIIX is also in preparations to open a retail store based in the predominantly Chinese community of San Gabriel, California."
Leading technology platform for the medical cannabis industry, MassRoots Inc. (OTCQB: MSRT), has reached a milestone of over one million registered users on its platform. Through its mobile application, MassRoots enables consumers to rate products and strains based on their efficacy and then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary. "MassRoots registering one million users is a significant milestone made possible by the strong support of our shareholders, tireless work of the MassRoots team, and passion of cannabis consumers worldwide," stated MassRoots Chairman and CEO, Mr. Isaac Dietrich. "In the coming days, we'll be releasing a revamped website and updates to our mobile application that will significantly enhance our user experience and can be immediately deployed to our vast user base. With the 4/20 holiday season rapidly approaching, we're preparing for a surge of web traffic, media coverage and user registrations that MassRoots has historically experienced this time of year. We look forward to continuing to expand our market share of cannabis consumers and dispensaries to further drive shareholder value."
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company with a goal to reduce the harm caused by smoking. The company's focus is the research, development, licensing, manufacturing, and worldwide sales and distribution of its products. 22nd Century Group's proprietary genetic engineering technology and plant breeding expertise allows them to regulate the level of nicotine (and other nicotinic alkaloids) in the tobacco plant. The company's subsidiary, Botanical Genetics, is focused on natural, safe and effective cannabis-based products for human health, well-being and nutrition, in addition to industrial products refined from cannabis.
United Cannabis Corporation (OTCQB: CNAB) is engaged in medical spa management business. The Company focuses on providing products, services and intellectual property to the cannabis industry. The Company focuses on advancing the use of phytocannabinoid therapeutics in medicine through research, product development and education. The Company's Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purpose. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual's, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combination of cannabis derived terpenes to increase bioavailability.
CV Sciences Inc. (OTCQB: CVSI) focuses on drug development activities on products containing cannabidiol (CBD) as the active pharmaceutical ingredient, and also is engaged in the sale of CBD, and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand, the leading hemp-derived CBD product line in the United States. The Company operates in two segments: specialty pharmaceuticals and consumer products. The Company's specialty pharma business segment is focused on developing and commercializing therapeutics utilizing synthetic Cannabidiol across several therapeutic areas. The consumer product business segment is focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
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