(MENAFN Editorial) NEW YORK, August 7, 2017 /PRNewswire/ —
A market report by Ameri Research Inc. indicates that the global legal cannabis market was valued at14.3 billionin 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the projected demand of cannabis will continue to rise for both recreational and medical use with estimated global sales value to reach63.5 billion. The legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns acrossNorth AmericaandEurope. Ameri Research also explained that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized. ChineseInvestors.com, Inc. (OTC: CIIX), Hemp Inc. (OTC: HEMP), American Cannabis Company, Inc. (OTC: AMMJ), Terra TechCorp. (OTC: TRTC), Medical Marijuana, Inc. (OTC: MJNA).
A major component of the legal cannabis industry is the CBD market.Matt KarnesofGreenwave Advisorshas commented about the growth of the CBD market saying, “In terms of the CBD market size, I estimate an almost3 billion market by 2021. Right now, there are 15 states