Cannabis Product Sales are Projected to Increase for Both Medical and Recreational Use

A market report by Ameri Research Inc. emphasizes that the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the demand for cannabis will continue to rise for both recreational and medical use products, and estimated global sales value is expected to reach $63.5 billion. The report points out the legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns across North America and Europe. Ameri Research also explained that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized. Global Payout, Inc. (OTC: GOHE), OWC Pharmaceutical Research Corp. (OTC: OWCP), Vitality Biopharma, Inc. (OTC: VBIO), American Cannabis Company, Inc. (OTC: AMMJ), 22nd Century Group Inc. (NYSE: XXII)

Major components of the cannabis industry

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