The Legal Cannabis Market Expected to Show Continued Growth

Wednesday, February 7, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+ News Commentary

NEW YORK, February 7, 2018 /PRNewswire/ --

Data published by New

Frontier Data estimates that the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025, and registering a compound annual growth rate of 16 percent. By segment, the medical cannabis market was worth $4.7
billion in 2016 and is expected to grow to $13.3 billion by 2025. Sales of recreational cannabis throughout the same period are expected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. The constant authentication of cannabis products for both medical and recreational use is a key factor contributing to the development made in this industry. On November 8th, 2016, California has passed California Proposition, allowing individuals in California to use and grow cannabis for personal use. Sugarmade, Inc. (OTC: SGMD), Surna, Inc. (OTC: SRNA), American Cannabis Company, Inc. (OTC: AMMJ), OWC Pharmaceutical Research Corp. (OTC: OWCP), Maple Leaf Green World, Inc. (OTC: MGWFF)

California's new recreational cannabis laws were formally realized on January 1st, 2018. New Frontier Data CEO, Giadha Aguirre De Carcer, commented on California's potential market growth, "California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change."

Sugarmade, Inc. (OTC: SGMD) yesterday announced, "the relocation of all business operations into a significantly larger facility, as it moves to further implement the recently announced marketing agreement with BizRight Hydroponics, Inc. Via this agreement, Sugarmade is expecting revenue growth during 2018 of at least 400%.

"We do not have nearly enough room at our current City of Industry, California location to accommodate the growth we are already realizing and are expecting for 2018 and beyond," commented Jimmy Chan, CEO of Sugarmade. "We are seeing something very special in the current marketplace. Once cultivation operators receive new licenses, one of the first moves is to buy the supplies required to move into the vegetative stage. Fortunately, we are seeing a lot of these orders, especially within the California marketplace. While hundreds of cultivation licenses have already been issued, there is still a significant backlog, which bodes well for us throughout 2018 and beyond. With more states coming online, the prospects are truly exciting."

Sugarmade's new operations center will consolidate nearly all corporate functions under one roof. The warehouse section was custom made for high volume shipments and is able to accommodate not only regular delivery trucks, but also full cargo containers. With its close proximity to both Southern California's most important freeway cargo routes and the vital port of Los Angeles, Sugarmade will be able to speed both importation of goods into the facility and delivery to customers."

Mr. Chan continued, "Not only is the new facility almost perfect for our needs, it is also located in close proximity to our current location, which should minimize move-related business disruption. We also have chosen this new site, which is at the Monrovia Technology Campus, because it offers a lot of configuration flexibility, and positioned us for future expansion. Our new address will be 750 Royal Oaks Drive, Suite 108, Monrovia, CA 91016." Surna, Inc. (OTCQB: SRNA) is a Boulder, Colorado-based manufacturer of a proprietary line of optimized lighting, environmental control and air sanitation systems for state-regulated cannabis cultivation facilities as well as traditional indoor agricultural facilities. On November 14, 2017, the company announced operating and financial results for the three and nine months ended September 30, 2017. Revenue for the three months ended September 30, 2017 was $1,566,000 an increase of $395,000, or 34%, compared to the three months ended September 30, 2016. Recent and anticipated regulatory changes involving medicinal and/or recreational cannabis use in various jurisdictions, such as California, tends to be a leading indicator for the granting of licenses for new facility construction. As more new cultivation facilities become licensed, the company has an expanded set of opportunities and customers to whom we can potentially sell our systems. American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On January 17, 2018, the company announced that it has secured a consulting contract with Cloud 9 Apothecary in the state of California. In conjunction with the consulting agreement, ACC will acquire an equity stake in Cloud 9's project that is currently non-operational and in the development stage. This project, to be built-out and completed in Desert Springs, California, will comprise a closed-loop greenhouse containing a 22,000 square foot canopy of premium cannabis cultivars. With the construction of this facility, Cloud 9 Apothecary's plans focus on wholesale cultivation and product manufacturing. Plans to shift into a fully integrated business model, complete with dispensing solutions, will be made in the near future as Cloud 9 plans to scale up operations organically. OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWC is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. On December 21, 2017, the company received a new permit from the Israel Medical Cannabis Agency to proceed with the safety study of their oral disintegrating tablet. The study protocol will be submitted to the Institutional Review Board [IRB] at a leading Israeli academic hospital in the coming weeks. The study is scheduled to start in Q2 2018. In October of 2016 OWC announced that it had completed the development of a proprietary cannabinoid-enriched sublingual tablet for the administration of medical cannabis. The Tablet constitutes a smoke-free alternative for patients using medical cannabis.

Maple Leaf Green World, Inc. (OTCQB: MGWFF) announced earlier in January that it has completed the purchase of all of the ownership interests in BioNeva Innovations of Henderson LLC ("BioNeva") and all of the ownership interest in the Nevada Medical Marijuana Registration Certificate C115. In accordance with the terms of the transaction, the previous holders of the ownership interest of BioNeva assigned their interest to Mr. Daniel Larkin, a newly appointed director of Maple Leaf as per below, who in turn will transfer one hundred percent of the ownership interest and related licenses to SSGW in accordance with the terms of a Confession of Judgment. BioNeva previously obtained conditional approvals for obtaining a Medical Marijuana Establishment - Cultivation Facility - Class V (Cultivation) business license (the "Cultivation License") in the City of Henderson, Nevada. Maple Leaf, through its Nevada subsidiary, SSGW, has now acquired its first existing cannabis cultivation permit.

Subscribe Now! Watch us report LIVE Follow us on Twitter for real time Financial News Updates: Follow and talk to us on Instagram: Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For Sugarmade Inc. financial news dissemination and PR services, has been compensated four thousand dollars by meridian ventures. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: .

For further information: Media Contact: +1-877-601-1879



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store