NetworkNewsWire Editorial Coverage: With sales projected to achieve a compound annual growth of 25 percent to reach over $20 billion by 2021, the cannabis market is one of the most dynamic and fast-growing in the U.S., attracting a diverse cast of innovators and spawning an entire industry for the manufacture of cannabidiol (CBD)-based products. PotNetwork Holding, Inc. (POTN) (POTN Profile), through its Diamond CBD subsidiary, is one of the leading companies involved in the research, development and marketing of CBD-based products derived from hemp, while Hemp, Inc. (HEMP) grows hemp and produces hemp-based products for the industrial and medical cannabis markets. Large-cap players include Terra Tech Corp. (TRTC), which has a diverse portfolio within this market, including medical cannabis cultivation and hydroponic produce through its subsidiaries Blum, IVXX Inc., MedicFarm LLC, Edible Gardens and GrowOp Technology; Amfil Technologies, Inc. (AMFE), the developer of a green solution for the control of pests and plant bacteria in the growth of medical marijuana; and Surna, Inc. (SRNA), which develops technologies for controlled environment agriculture (CEA), which includes legal cannabis cultivation facilities in North America.
Accounting for up to 40 percent of the cannabis plant extracts, CBD is a valuable component of the broader marijuana industry, driven by its wide range of potential medicinal and therapeutic benefits. According to Hemp Business Journal (http://nnw.fm/EvT2G), the market for CBD products derived from hemp – a non-psychoactive variety of the cannabis plant – is projected to grow at a compound annual growth rate (CAGR) of around 53 percent to the year 2020. While it is illegal to grow hemp at an industrial level in the United States, importation of the plant is permitted.
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Companies Vying for a Share of the Fast-Growing Medicinal Cannabinoid Market
