Data Reveals Legal Cannabis Industry Projected to Grow

According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 to 2024, culminating to $63.5 billion by 2024. The market is going through a period of strong growth thanks to increasing legalization and decriminalization of cannabis products across North America and Europe. The report indicates that due to the complex regulatory structure at state and federal level, the full potential of the market is not yet realized. Data published by Arcview Market Research forecasts that growth of the legal cannabis industry will reaccelerate beginning 2018, as adult use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. Marijuana Company of America, Inc. (OTC: MCOA), Global Hemp Group, Inc. (OTC: GBHPF), Lexaria Bioscience Corp. (OTC: LXRP), OWC Pharmaceutical Research

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