Data Indicates Legal Cannabis Market Continues to
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Posted On: 11/28/2017 3:30:25 PM
Data Indicates Legal Cannabis Market Continues to Show Growth
Tuesday, November 28, 2017, 9:00 AM ET
Edited by me to just include OW info.
FinancialBuzz.com News Commentary
NEW YORK, November 28, 2017 /PRNewswire/ --
According to a report published by New Frontier Data, the legal cannabis market was valued at $6.6 billion in 2016 and is expected to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. The market is growing rapidly due to accelerating pace of legalization for both recreational medical products in the United States. On November 8(th) , 2016, California has passed California Proposition 64 by a vote of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal use. According to another report from New Frontier Data, legal cannabis sales in California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12 percent during the forecast year. Global Payout, Inc. (OTC: GOHE), Marijuana Company of America, Inc. (OTC: MCOA), OWC Pharmaceutical Research Corp. (OTC: OWCP), SinglePoint, Inc. (OTC: SING), American Cannabis Company, Inc. (OTC: AMMJ)
The booming cannabis market is expected to have positive economic benefits, such as creating more jobs and generating tax revenue. According to MG News, Vivien Azer of Cowen & Co. said in a report: "When you consider ancillaries such as growers, testing labs, security, etc., the economic impact could range from $12.7 to $22.6 billion. Of note, these numbers do not include the impact of tourism, business taxes, licensing fees and paraphernalia sales, which could drive the economic impact higher."
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its wholly-owned, Israel-based subsidiary, One World Cannabis, has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression.
Tuesday, November 28, 2017, 9:00 AM ET
Edited by me to just include OW info.
FinancialBuzz.com News Commentary
NEW YORK, November 28, 2017 /PRNewswire/ --
According to a report published by New Frontier Data, the legal cannabis market was valued at $6.6 billion in 2016 and is expected to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. The market is growing rapidly due to accelerating pace of legalization for both recreational medical products in the United States. On November 8(th) , 2016, California has passed California Proposition 64 by a vote of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal use. According to another report from New Frontier Data, legal cannabis sales in California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12 percent during the forecast year. Global Payout, Inc. (OTC: GOHE), Marijuana Company of America, Inc. (OTC: MCOA), OWC Pharmaceutical Research Corp. (OTC: OWCP), SinglePoint, Inc. (OTC: SING), American Cannabis Company, Inc. (OTC: AMMJ)
The booming cannabis market is expected to have positive economic benefits, such as creating more jobs and generating tax revenue. According to MG News, Vivien Azer of Cowen & Co. said in a report: "When you consider ancillaries such as growers, testing labs, security, etc., the economic impact could range from $12.7 to $22.6 billion. Of note, these numbers do not include the impact of tourism, business taxes, licensing fees and paraphernalia sales, which could drive the economic impact higher."
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its wholly-owned, Israel-based subsidiary, One World Cannabis, has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression.
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