The cannabis market has a recent report of its progress in the US and there is a forecast released for the years 2019 to 2023 that will help newcomers in the market. The cannabis report provides extensive detail regarding the cannabis market in the United States of America that includes an intricate description of the market growth rate and size.
This report will be giving an analysis of the market in the United States of America regarding cannabis by depicting its values and segmentation. Moreover, the report has an in-depth analysis of all cannabis-derived products in the cannabis market through the product and the channel for product distribution.
Cannabidiol is the non-psychoactive component of cannabis that is available in both marijuana and hemp. These two are the types of the original plant.
The extraction of cannabidiol compounds is possible through giving heat or decarboxylating the CBD acid. The resultant product CBD does not induce and intoxication in the user and the user does not feel any high.
This compound found in the medical strains has many therapeutic benefits that help relieve chronic pain and is useful for a number of physical as well as psychological diseases.
Moreover, some studies suggest it to be helpful even for pets regarding anxiety and pain. That is the reason why many Americans are now bringing cannabis products home and making it a part of their daily routine.
In addition to these factors, the fact that cannabinoid also helps in the endocannabinoid system, it is rendered good for the immune system in humans.
It slows down the whole disease progressing state according to some studies. The strain is available in many different forms with varying THC and CBD content and their ratios if both are meant to be present in the same product.
The cannabidiol market has high hopes of becoming one of the most flourishing industries in the US market during these years.
Various growth-enhancing factors like aging population growth and cannabis culture getting promoted and advocated among millennials, increasing chronic pain diseases like arthritis and other diseases are some causes why cannabis is flourishing in the domestic as well as the international market.
Moreover, the removal of the hemp substance from the list of Controlled Substances Act has given it a legal edge due to which people are not avoiding the product from the fear of showing positive test results.
On the other side, the market is not yet marked safe from risks and challenges of any kind that hinder the progress of the crop. These issues include a vague legal framework and policy regarding cannabis cultivation and use and products that are not regulated.
The report regarding cannabis will be assessing the opportunities in the industry and outline the factors that would drive the growth of the industry. The growing cannabis market in the US in cultivating terms has also been forecasted in this report.
Medical Cannabis Brand Aphria bags Top Canadian Cannabis Award
Aphria, all of their medical and recreational brands, as well as Broken Coast Cannabis named Head Grower were recognized at the 6th Annual Canadian Cannabis Awards hosted by Lift & Co.
A panel of experts awarded Broken Coast’s Head Grower Kevin Anderson ‘Master Grower’ and Aphria’s Solei’s CBN Renew Oil ‘Innovation of the year’ title. The company won 7 awards in total. With the vote of over 31000 Canadians, the adult use brands Solei, RIFF, Good Supply, Broken Coast, and the medical brand Aphria received top honours in each category.
Aphria Inc. is a leading global cannabis company headquartered in Leamington, Ontario. It has been setting the standard for the low-cost production of high-quality cannabis at scale, grown in the most natural conditions possible. They focus on introducing latest technologies and innovation to the global cannabis market. Aphria Inc. drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.
Irwin D.Simon said: “We are thrilled to have not only all five of our brands across our medical and recreational portfolios – Solei, RIFF, Good Supply, Broken Coast and Aphria – recognized by thousands of Canadians but to have our Solei Renew CBN oil win ‘Innovation of the Year’. These awards speak to the quality of our products and strength of our brands, as well as our commitment to innovation and continuously setting the bar higher to deliver products we believe meet the needs of our patients and consumers.”
Simon further showed his appreciation and gratitude to the hard work of Kevin Anderson who is a Head Grower at Broken Coast honoured. “Broken Coast’s superior craft quality is just one reason why it continues to receive accolades and remains one of the most sought-after brands on the market; another key factor is Kevin’s expertise, leadership and direction. We congratulate Kevin, and the teams in British Columbia and Ontario for the award-winning work they continue to deliver. Aphria’s success will continue to be driven by our incredible employees, and compelling and differentiated portfolio of brands and products.”
The company won 2 awards in the ‘Judged Category’
Innovation of the Year – Solei Renew CBN Oil by Aphria
‘Top Master Grower’ – Kevin Anderson, Head Grower, Broken Coast Cannabis
In the ‘Consumers’ Choice’ category, the honours achieved by all five of the Company’s brands are as follows:
Top Hybrid Flower – Ruxton (Sour OG) by Broken Coast Cannabis
Top High CBD Bottled Oil – CBD 25:1 Oil by Aphria
Top Sativa Dominant Pre-roll – Jean Guy Pre-roll by Good Supply
Top Indica Dominant Pre-roll – Subway Scientist Pre-roll by RIFF
Top Hybrid Pre-roll – Sense Pre-roll by Solei
The Revolution of Cannabis and CBD based products attracting Discerning Customers
Over the time the cannabis market has grown quite a lot. It was legalized for adult-use and since then the sales have spiked. With this, the market value of other products like edibles is getting a lot of attention. According to a research conducted by Brightfield Ground, the worth of hemp-derived CBD market is expected to hit USD 23.7 billion by 2023.
The 2018 Farm Bill was passed by the U.S. which legalized hemp. CBD is obtained through hemp plant. Hemp belongs to the cannabis family but it does not induce psychoactive effects. People were hesitant in trying CBD products due to a common misconception that it includes THC. After conducting numerous trials, it was proven that CBD does not induce any psychoactive effects, but instead it promises many health benefits. CBD helps with quitting smoking and reducing the withdrawal symptoms.
The research shows that CBD helps with minor headaches and also help with chronic medical illnesses. Once the misconception was out of question many new products containing CBD made their way into the market like CBD chewing gum, shampoo, coffee, fitness nutrition, and deodorant. To keep up with the hype, Goldleaf Founder Charles McElroy said “It is certainly growing, because CBD products boast no intoxicating effects and lots of medical potential, many people are getting involved all over the country, especially in states where cannabis is still illicit. It’s a good way to get your foot in the door in a growing industry, while I know it to be a wonderful product, currently there’s a race to grab market share in a space quickly becoming oversaturated.”
Several big names from health industry have entered the cannabis market and are working to make it an even bigger deal; Smart Decision Inc. researches and develops algorithms for the consumers for markets like CBD. Their aim is to help the consumer pick the right products in the first purchase. This way, the product image remains positive and product returns are cut down. They announced a collaboration “We’re excited to have the opportunity to work with HempAmericana.”
New Age Beverages Corporation, a Colorado based company that commercialized the use of CBD products. This mainly includes a line of Marley beverages infused with CBD. Senior Director in Japan for New Age said: “New Age is proud to introduce our lineup of CBD products to Japanese consumers and to be first with CBD in Japan. We have been working intensively with the Japanese Narcotics Control Division and the Ministry of Health for the past eight months to meet all of their stringent testing and requirements. This week, we finally cleared those hurdles, the first major company in the country to do so.”
Medmen Enterprises Inc. is another North America’s premium cannabis retailer founded in 2010. This company is licensed and has 35 retail stores. The aim of this company is to promote safe use of cannabis for adults over 21.
Another licensed producer of cannabis in Canada Emerald Health Therapeutics is working with a new supplier for medicinal cannabis in Denmark. Their aim is to introduce products like CBD oil, THC oil, THC+CBD oil for Danish Medical Cannabis Pilot Program.
Leading Brand to Participate in 2nd Annual Cannabis Conference
Khiron is a vertically integrated leading name in cannabis industry having its basic operations in South America. The company has just announced that it will be taking part in the Cowen 2nd Annual Boston Cannabis Conference. The conference will take place on November 12, Tuesday, 2019 to November 13, 2019 in Boston, Massachusetts.
The Intercontinental Hotel will be hosting the whole event where there will be fresh updates about all institutional investors in the market. These institutional investors will bring information regarding already existing as well as upcoming products in the market.
This will be a quite informative event targeted at bringing out all new investors at one platform and paving a way for future investments. That initiative will help the market to grow and become better in all cases.
There will be 15 high-interest panel discussions that will cover all topics that include cannabinoids in different aspects. Payments, retail, sustainability, legislation and regulation will be the highlights of the entire conference.
Furthermore, all American cannabis brands as well as international markets will be discussed by high think tanks and the senior management belonging to the cannabis market.
At the conference, Khiron Chief Executive Officer Alvaro Torres will also be present at the conference. They will be available for individualized and pre-booked meetings after the conference. In addition to that, Mr. Torres will be joining the panel discussion of the conference that will be covering the international cannabis markets.
Khiron Life Sciences Corporation is placed at the leading position in the cannabis retail market in the region of South America. Khiron has its operations in the region and is a fully licensed and registered name in Colombia for cultivating purposes. The company produces, locally distributes, and even exports medical cannabis.
THC – tetrahydrocannabinol, and CBD – cannabidiol, both components are available in the strains of medical cannabis they produce and sell in the market.
The organization has a best in class compliance for regulation for cannabis, and has the first approved cannabinoid domestic products for cosmetic purposes in the area of Colombia. Moreover, it is helping the facility testing for getting registered through an official license for its cannabis derived products for commercial usage.
The company has a regional strategy and moves with a patient oriented aim. It combines the global scientific expertise, innovation in agriculture, product name in brand and entrance idea in the market.
Brand loyalty and an educational experience also comes under the name of the targets this company wants to achieve. Moreover, alleviation of problems like chronic pain, anxiety, and other mental health problems in the region are also among the goals of this company.
Alvaro Torres has an experienced executive team under his company who is responsible for carrying out all major and minor technicalities and address tot the issues related to the company.
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