FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Aug. 23, 2022 /PRNewswire/ -- The CBD oil market is expected to witness an astounding CAGR of 38.90% from 2021 until 2029, climbing from $9.86 billion to $136.64 billion. There are several reasons behind the projected growth such a growing number of CBD-infused skincare products, increased use of THC and CBD in pain management and treatment, rising sales in both retail stores and online, expanding research, and increasing demand for ingestible products. Governments around the world have also begun opening up more doors for CBD, with a recent Health Canada report suggesting legal framework to broaden retail CBD sales across the country. These factors create a favorable market for cannabis companies like Flora Growth Corp. (NASDAQ:FLGC), Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), Cronos Group (NASDAQ:CRON) (TSX:CRON), Canopy Growth Corp. (NASDAQ:CGC) (TSX:WEED), and Village Farms International, Inc. (NASDAQ:VFF), which are expanding their CBD business to meet rising demand.