Data Shows an Optimistic View for the CBD and Hemp Industry
NEW YORK, October 9, 2017 /PRNewswire/ --
According to a research published by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024, while reaching a value of $63.5 billion in global sales in 2024. The rising demand of cannabis for recreational use and medical use is a key factor driving the growth in sales in the industry. A major component of the legal cannabis industry is the CBD market. Matt Karnes, of Greenwave Advisors, is optimistic about the growth of the CBD market saying, "In terms of the CBD market size, I estimate an almost $3 billion market by 2021," Forbes reported. Chineseinvestors.com, Inc. (OTC: CIIX), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), INSYS Therapeutics Inc. (NASDAQ: INSY), Cannabis Sativa, Inc. (OTCQB: CBDS), 22nd Century Group, Inc. (NYSE: XXII)
Eric Steenstra, President of Vote Hemp, has referenced, "To date, 31 states have passed legislation that allows hemp farming per provisions set forth in the 2014 Farm Bill, and the U.S. remains the largest consumer market for hemp products worldwide. We need Congress to pass federal legislation to allow commercial hemp farming nationally, to let our farmers and American businesses take advantage of the robust economic opportunity hemp provides."
Chineseinvestors.com, Inc. (OTCQB: CIIX) On October 2nd announced that it has, "appointed Skin Care Industry veteran and Shanghai beauty influencer, Fannie (Chun Fang) Tang as Marketing Director of its wholly-owned foreign enterprise, CBD Biotechnology Co., Ltd. effective immediately. Ms. Tang will report directly to CBD Biotechnology's CEO, Summer Yun, and will be responsible for developing and implementing branding strategies for CBD Biotechnology's CBD Magic Hemp Series skin care line in China..."With over twenty years of marketing and branding experience in the skin care and cosmetics industry, I believe CBD Biotechnology is extremely fortunate to be working with Ms. Tang," says Yun. "Ms. Tang's concept of 'Beauty Derives from Nature and Creation' aligns with CBD Biotechnology's vision to develop an innovative, natural skin care band. Moreover, Ms. Tang has proven success in the industry in this region. Through her efforts, we are confident that CBD Biotechnology will position itself to become a leader in China's skin care industry."
In September 2017, CBD Biotechnology completed the filing process with the China Food & Drug Administration for its first three products in the CBD Magic Hemp Series line, namely the CBDBIO TECH Brightening and Refreshing Moisturizer, the CBDBIO TECH Perfecting Shield Primer, and the CBDBIO TECH Peptide Collagen Solution, which are expected to be formally launched this month. The CBD Magic Hemp Series skin care line will be marketed through multiple sales channels, including online sales, app sales, and third party distribution relationships with online celebrities and market influencers."
On September 26th, in a recent updated research report by SeeThruEquity stated, "We are leaving the price target ($3.75) unchanged at this time for Chineseinvestors.com, Inc. (OTCQB: CIIX). The price reflects the significant growth potential from the company's legal CBD initiatives in the US and the hemp CBD-infused skin care products in China. In addition to growth from its exiting financial services businesses."
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On September 28, 2017, the company announced positive top line results from an open label exploratory Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) clinical trial evaluating ZYN002 cannabidiol (CBD) gel in pediatric and adolescent patients with Fragile X syndrome.
INSYS Therapeutics Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients' quality of life. Using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. On September 29, 2017, the company announced that it filed a New Drug Application (NDA) for a novel formulation of buprenorphine as a sublingual spray for the management of moderate-to-severe acute pain with the U.S. Food and Drug Administration (FDA). In addition to buprenorphine sublingual spray, INSYS is also developing treatments for a variety of conditions other than pain, including synthetic cannabidiol (CBD) for two types of pediatric epilepsy and Prader-Willi syndrome.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. Recently, the company announced that the Company has granted an exclusive license to the Sowilde Management Group, Inc. to allow Sowilde to produce products under the Company's 'hi' and 'White Rabbit' brands. White Rabbit offers fast acting low dose cannabis oral sprays and low dose cannabis mints. Both the spray and the mints are formulated as CBD, THC and CBD/THC blends. Dosage ranges include 2.5mg, 5mg and 10mg tablets and sprays with 1:1 and 20:1 variations of each. hi Honey, is a rich, dark, Wild Raw Honey from African mountain bee that is infused with THC or CBD and sourced from a company that supports a native bee population as well as creates sustainable livelihoods for two indigenous groups.
22nd Century Group, Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants. 22nd Century has developed a solution to create industrial hemp plants that contain zero THC. The Company's ongoing research is product-oriented and focused on developing a range of next generation industrial hemp plants that contain optimized levels of medically important cannabinoids, such as CBD, CBC, and CBG.
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