According to a research report published by Hemp Business Journal and Vote Hemp, the Hemp Food, Body Care, and CBD products lead the U.S. hemp retail market and projected to grow at a five year 22% CAGR. The report estimates that the total retail value of hemp products sold in the U.S. in 2016 was $688 million, and projected to grow to $1.8 billion in sales by 2020. Several categories of products such as shelled seed, protein powder, soaps and lotions have continued to show growing sales. Cannabidiol (CBD) is the part of the cannabis plant that is usually used for medical purposes. Chineseinvestors.com, Inc. (OTC: CIIX), Marijuana Company of America Inc. (OTC: MCOA), AXIM Biotechnologies, Inc. (OTC: AXIM), GW Pharmaceuticals plc (NASDAQ: GWPH), Vitality Biopharma, Inc. (OTC: VBIO).
Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic