This CBD Trend Holds a Significant Amount of Sales Potential
Demand for CBD-rich consumer products has been explosive since the U.S. Farm Bill was signed into law. In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023. Piper Jaffray says the potential for beauty products could boost the overall CBD market value to as much as $100 billion. Better, China is creating an explosive new trend, as it sees growing demand form skincare products tailored for men. In fact, in 2018, sales of male skincare products increased between 51% and 114% for cleansers, facial masks, lotions, and creams. If CBD finds its way into that mix, it could create a bigger catalyst for companies such as The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Canopy Growth Corporation (TSX:WEED)(NYSE:CGC), HEXO Corporation (NYSE:HEXO)(TSX:HEXO), OrganiGram Holdings Inc. (TSX-V:OGI) (NASDAQ:OGI), and Aphria Inc. (NYSE:APHA)(TSX:APHA).
Europe's Booming CBD Market Grows Will Grow More Than 400%
In February, the World Health Organization recommended that the United Nations remove pot and its key components from a list of highly-controlled substances under international drug treaties. Since then, there has been rapid development towards regulation and capitalization of pot-related industries, especially in Europe. Amidst reports that the CBD industry on the continent is exploding--with the Brightfield group projecting that in Europe the market will grow more 400% through 2023--there is remarkable room for growth in the CBD space. CBD cultivators and product manufacturers will have to move quickly to navigate existing regulation and produce nothing but the highest quality goods. By doing this, companies like StillCanna Inc. (CSE:STIL) (OTC:SCNNF), GW Pharmaceuticals (NASDAQ:GWPH), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF), OrganiGram Holdings (TSX-V:OGI) (NASDAQ:OGI), and Tilray Inc. (NASDAQ:TLRY) will establish in Europe a lucrative and trustworthy market for CBD products.
Medical Cannabis' Evolution Continues in Countries Around the World
As the cannabis industry continues to evolve, researchers are constantly uncovering new aspects of the plants. For instance, a study by the University of Colorado suggested that cannabis can be used to increase the survivability of a heart attack. The study collected over 1.2 million medical records of acute myocardial infarctions (AMI) and among those records, it was discovered that 3,854 of those patients were cannabis consumers. While it would be likely assumed that they would have more adverse conditions than non-consumers, it was the exact opposite, as the researchers noted that the cannabis consumers had a decreased risk of death, shock, or need to insert a balloon into a blocked artery. The researchers mentioned that they do not exactly understand the scientific reasoning behind increased survivability. However, they speculated that the activation of CB2 receptors found in the endocannabinoid system can provide therapeutic cardioprotective effects. The researchers then pointed to another study that suggested cannabis could increase blood flow, preventing blood clots and strokes. Furthermore, a multitude of studies have also concluded that cannabis can be effectively used to treat other medical conditions such as symptoms associated with cancer, chronic pain, epilepsy, and multiple sclerosis. Medical cannabis is predominantly used among patients suffering from chronic pain because the activation of the CB2 receptors can help alleviate the pain as well as reduce inflammation. Moreover, thousands of medical institutions and researchers are conducting trials to better understand the psychological and neurological effects of cannabis. And while the industry remains within its infancy stage, it is rapidly accelerating. In the near future, cannabis could potentially become a globally available medicinal treatment for a variety of conditions. As a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Sundial Growers Inc. (NASDAQ: SNDL), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), Harvest Health & Recreation, Inc. (OTC: HRVSF) (CSE: HARV)