According to a report by Forbes, a new research by Brightfield Group projects that the hemp-derived cannabidiol (CBD) will be billion-dollar market in just three years. The market is estimated to grow at a 55% compound annual growth rate over the next five years.
The research indicates that 64.5% of the total revenue in the market come from the online channels, followed by 17.8% at smoke shops. Dispensaries also played a major role, with 9% of the sales. Hemp CBD is sold in all 50 states.
“One of the most surprising things we found during this research was how many companies are currently operating in the space, and how few of them are generating significant revenue,” said Bethany Gomez, the Director of Research at Brightfield Group, according to an article by Forbes.
“Essentially everyone is trying to do hemp, but only a handful are doing it well.” Global Payout, Inc. (OTC: GOHE), SinglePoint (OTC: SING), Marijuana Company of America (OTC: MCOA), MassRoots, Inc. (OTC: MSRT), AXIM Biotechnologies, Inc. (OTC: AXIM)
Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others.
“The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%.
If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals,” said Giadha Aguirre De Carcer, CEO and Founder, New Frontier Data.
Global Payout, Inc. (OTC: GOHE) announced today that, “its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) is currently in the process of ramping-up sales and marketing efforts within Los Angeles County for its newly acquired brand, PotSaver.
PotSaver will be releasing its premier Los Angeles publication on January 1st 2017 to coincide with the legalization of recreational use of cannabis in the most populous state in the country, California.
In the last year, PotSaver, a revenue producing, community periodical and online advertising platform that provides listings on discounted cannabis-related products for local dispensaries and shops has established a significant presence within the San Diego County cannabis community behind the efforts of its founder, Aaron Adler. In having been acquired by MTRAC in September 2017, PotSaver has been afforded the foundational and financial support needed to engage in a full-fledged sales and marketing campaign to expand the brand’s footprint into both the Orangeand Los Angeles County markets.
In recent weeks, MTRAC management has been working diligently to form a powerhouse inside and outside sales and marketing team that will work in collaboration to facilitate the successful launch of PotSaver’s publication in Los Angeles.
Mr. Adler will supervise this team and expand PotSaver’s reach by executing subscription agreements with many of the top dispensaries, service and product providers throughout this newly available market, one that is expected to grow exponentially at the turn of the new year.”
Source: 420 Intel – United States