The legalization of global cannabis industry seems to grow higher as more and more countries legalize marijuana for recreational and medical use. A report from the bank of Montreal said: " High valuations justifiable if investors factor in potential of U.S. legalization on a federal level and legalization in the EU. The potential of the global cannabis industry is so vast that it could eventually make the sky-high valuations of some Canadian licensed producers look like bargains, according to a new report from Bank of Montreal. In the report, the bank's cannabis sector analysts, Tamy Chen and Peter Sklar, sought to determine just how big the total addressable market Canadian producers will be competing for in the coming years, one that doesn't stop at Canada's borders. Assuming a blue-sky scenario in which the U.S. and all 28 countries in the EU legalize marijuana for both recreational and medical use -- and in which Latin America allows the medical use of cannabis -- they project that in seven years the market could reach $194 billion, a number that significantly dwarfs the $5.9 billion in potential revenue they anticipate will be generated by the Canadian medical and recreational markets. Currently, the biggest three licensed producers in Canada have a combined market capitalization of more than $30 billion. Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), HEXO Corp. (TSX: HEXO) (NYSE: HEXO), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), CannTrust Holdings Inc. (NYSE: CTST) (TSX: TRST), Tilray, Inc. (NASDAQ: TLRY).

When it comes to health and wellness, people have become more conscious about their daily lifestyle habits. According to a study by Nielsen, consumers are seeking functional foods that can help prevent diseases and promote good overall health. Among those surveyed, Nielsen uncovered that 83% of North Americans changed their diet and 74% engage in physical activity to lose weight. The current trends ongoing within the health and wellness marketplace has even introduced new products into the market space. Notably, after the passage of the U.S. Farm Bill, CBD or cannabidiol has grown to become the center of attention. Research conducted has linked CBD to the successful treatment of a variety of health concerns such as acne and anxiety. Moreover, CBD is also being leveraged within medical institutions to aid patients with symptoms associated with conditions such as cancer, epilepsy, Alzheimer's, and chronic pain. Primarily, most CBD consumers use full-spectrum CBD oils which are extracted from the hemp plant. Full-spectrum CBD oils contain many other cannabinoids, plant terpenes, vitamins and minerals that are beneficial to the consumer and these full-spectrum oils contain all 20 essential amino acids, omega-3 fatty acids, B Complex vitamins, and vitamins A, E, and C, according to Terra Vida, a Colorado-based CBD retailer. Additionally, the oils also contain minerals such as calcium, iron, magnesium, potassium, zinc, and phosphorus. The CBD industry is expected to continue to gain exposure as the overall cannabis industry progresses. Furthermore, as CBD research undergoes, more countries are expected to adopt CBD or even overall medicinal cannabis, in general, to better treat patients, further propelling the cannabis marketplace. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2017. By 2025, the market is projected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025. MediPharm Labs Corp. (OTC: MEDIF) (TSX-V: LABS), HEXO Corp. (NYSE-A: HEXO) (TSX: HEXO), Sorrento Therapeutics, Inc. (NASDAQ: SRNE), OrganiGram Holdings Inc. (OTC: OGRMF) (TSX-V: OGI), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN)

Sales of cannabidiol (CBD) oil are dramatically rising across North America, as its availability on mainstream shelves caters to growing health, wellness, and beauty markets. Much of this growth is being driven at two ends of the age spectrum, as hemp-based CBD is becoming more and more popular among both baby boomers and millennials. As the health benefits of CBD continue to be studied, the economic benefits are becoming apparent to the producers of CBD products including Chemistree Technology Inc. (CSE:CHM) (OTC:CHMJF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), HEXO Corp. (NYSE:HEXO) (TSX:HEXO) and CannTrust Holdings Inc. (NYSE:CTST) (TSX:TRST).