Cannabinoid Consumer Market Booming as CBD Enjoys Growth in Public Sentiment
NetworkNewsWire Editorial Coverage: Medical cannabis sales are set to impress even the most timid investor, with projected sales of nearly $5 billion in 2017, or about 67% of the $7.2 billion legal cannabis market. Hemp-derived cannabidiol (CBD) product sales are also expected to be a billion-dollar business within three years, growing at a projected 55% compound annual growth rate from 2016’s $170 million in revenue, according to an article in Forbes(1). As the cannabis industry continues to flourish, many publicly traded companies are finding ample opportunities to thrive. Standout companies determined to grow with the industry include ChineseInvestors.com (CIIX) (CIIX Profile), CV Sciences, Inc. (CVSI), Terra Tech Corp. (TRTC), Medical Marijuana, Inc. (MJNA) and Hemp, Inc. (HEMP)
It’s worthwhile to note that significant changes in the acceptance of medical and recreational marijuana also includes the alternative forms of CBD-infused and hemp-derived products, which most people now understand do not contain THC, the psychoactive compound found in marijuana. A massive amount of research into the health benefits of CBD and its effect on mental health disorders is also underway in the scientific community.