Data Shows an Optimistic View for the CBD and Hemp Industry

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., Inc. (OTC: CIIX), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), INSYS Therapeutics Inc. (NASDAQ: INSY), Cannabis Sativa, Inc. (OTCQB: CBDS), 22nd Century Group, Inc. (NYSE:

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