Cannabis is the most popular illegal drug in the US. The industry is growing exponentially, with a projected $50 billion market by 2030.
The how many dispensaries in united states 2021 is a question that has been asked for a while. With the increasing demand of cannabis, it is expected to have an increase in sales of dispensary stores.
There has been a substantial rise in the number of cannabis growers in the United States in recent years, as the government has begun to accept more applications for cannabis cultivators. The number of applications for which cannabis is prescribed is also growing. This is anticipated to boost cannabis sales and offer up new income streams for industry participants. Furthermore, the expected federal legalization of medicinal marijuana in the United States would only serve to boost this market’s development prospects in lawful medical use. Due to changes in government policy, the market for legal marijuana is anticipated to skyrocket. Several new cannabis companies are pursuing R&D, testing, and production. Many jurisdictions in Canada are anticipating the privatization of cannabis retail shops. Many provinces that formerly selected a single supplier are now allowing numerous vendors to submit bids. Over the projected period, these factors are expected to drive the market. The worldwide legal marijuana industry was estimated at USD 9.1 billion in 2020, according to Grand View Research, and is projected to rise at a compound annual growth rate (CAGR) of 26.7 percent from 2021 to 2028. According to the report: “The increasing demand for legal marijuana, due to the growing number of legal cannabis nations, is one of the main drivers driving market development. The use of medicinal marijuana for a variety of ailments is gaining traction across the globe as a result of recent legalizations in several nations. Medical marijuana is given to patients with chronic diseases including Parkinson’s, cancer, Alzheimer’s, and a variety of neurological ailments. The market for cannabis oil is quickly rising, particularly in nations where medicinal marijuana is allowed.” Cannabis Strategic Ventures, Inc. (OTCPK: NUGS), Sundial Growers Inc. (NASDAQ: SNDL), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), and cbdMD, Inc. (NYSE: YCBD) are among the active firms in the Cannabis market this week.
Grand View’s investigation continues: “CBD isolates will see much more development in the future years thanks to a recent innovative food regulation in Europe. Furthermore, children who use cannabis are only given oil because it has proven to be effective in the treatment of diseases like as epilepsy. Governor Phil Murphy signed three legislation in February 2021 to legalize recreational cannabis for individuals 21 and older in New Jersey, the United States. This is anticipated to increase market potential even further in the following months. In 2020, North America led the market with a revenue share of 79.6%. Enlightened government restrictions and the partial legalization of marijuana for medicinal and adult (recreational) use in the United States and Canada have aided the development of the regional industry. Other factors driving the regional market include the presence of major marijuana growers and manufacturers in the area, the legalization of marijuana for adult use, rising retail sales, and geographic development of retail shops.”
Cannabis Strategic Ventures, Inc. is a company that focuses on the cannabis industry (OTC Pink: NUGS) NEWS FLASH: NEWS FLASH: NEWS FLASH: NEWS FLASH NUGS Debuts New LA Dispensary Brand and Plans to Expand Cultivation with a New Licensed Indoor Grow Facility – Cannabis Strategic Ventures is pleased to provide an update to current and prospective shareholders as the Company begins to deploy its newly acquired licenses, including the upcoming grand opening of the Company’s customer-facing cannabis dispensary brand, “MDRN Tree,” which will open its first Los Angeles location sometime this fall.
Following the launch of MDRN Tree, the Company intends to use another of its new licenses to build an indoor cultivation facility with up to 1,200 grow lights capable of producing 2-3 lbs. of premium exotic cannabis flower per light per harvest over an estimated 5.75 harvests per year, implying a total production capacity of over 15,000 lbs.
As previously announced in a press release dated September 23, the Company entered into a material definitive agreement with LW Ventures, Inc. (“LW”) in 2019 involving the assignment of NUGS equity to LW shareholders in exchange for up to $8 million in funding and the transfer of four cannabis licenses issued by the City of Los Angeles and the State of California for the Retail Sale, Cultivation, and Distribution, as well as the transfer of four cannabis licenses issued by the City of Los Angeles and the State of California for the
However, due to the Covid-19 pandemic, approval of the transfer of licenses was delayed until recently: on August 9, 2021, the Company was notified that the City of Los Angeles had approved the change of ownership applications, resulting in final regulatory approval to transfer all four licenses to NUGS, following prior approval by the State of California.
“We are wasting no time in leveraging those assets to create one of California’s top vertical cannabis businesses,” said Simon Yu, CEO of NUGS, after obtaining crucial licenses. “We plan to showcase the cannabis flower produced at our NUGS Farm North cultivation site at MDRN Tree, our factory retail store – our direct interface with our end-market community.” This farm-to-sale model has the potential to improve both quality control and profitability at the same time, and I look forward to sharing more information as we progress.
Other significant impacts and current advancements in the cannabis business include:
Karma CBD Water was just launched by Karma Water. This is the first CBD beverage to be released under the Karma health and probiotic waters beverage line, and it was created in collaboration with Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), a global leader in the cannabis and hemp industries. Karma CBD Water is produced with Canopy Growth’s Broad Spectrum CBD distillate made from US Hemp Biomass and driven by Karma’s proprietary Push Cap technology, which keeps the active cannabinoid components protected until seconds before consumption for maximum effectiveness. Karma CBD Water, a first-of-its-kind beverage for customers, blends the health benefits of CBD with Karma’s renowned Push Cap technology.
Karma Beverages Introduces CBD Water, the Next Generation of Premium Infused Waters
“Karma Water is a health beverage leader, and we view CBD as the next step in our premium infused waters line,” stated Karma CEO CJ Rapp. “We are pleased to collaborate with Canopy Growth to provide customers a unique new product offering in the CBD-infused beverage market, combining best-in-class CBD with our industry-leading Push Cap technology to achieve optimal health.”
Sundial Growers Inc. (NASDAQ: SNDL), a legal cannabis producer in Canada, has announced the introduction of Caviar Cones, its newest product innovation under the award-winning Top Leaf brand. Forbidden Lemon Caviar Cones will be the first caviar cone product available in Canada. Sundial’s targeted innovation pipeline around premium inhalables in the Canadian cannabis industry is strengthened by this launch.
“Top Leaf’s brand promise is to provide premium cannabis customers with high-quality inhalable products,” stated Andrew Stordeur, President and Chief Operating Officer of Sundial. “Product quality is critical in order to compete in this favored sector of the cannabis business. Caviar Cones from Top Leaf are the first of several high-quality, high-THC, and flavorful products designed to please even the most seasoned cannabis consumer.”
cbdMD, Inc. (NYSE American: YCBD), one of the nation’s leading and most highly trusted and recognized cannabidiol (CBD) brands, recently announced a three-year exclusive strategic partnership agreement with Troon, LLC, under which Troon will provide promotional and marketing services to cbdMD in order to help access distribution opportunities to the more than 600 Troon-affiliated facilities.
“With two-time Masters Champion Bubba Watson and Masters Champ Patrick Reed as brand ambassadors, cbdMD is a pioneer in CBD golf marketing. Now, we’re extending our lead by announcing a three-year exclusive strategic collaboration with Troon, the world’s leading provider of golf course and private club management services, with over 600 locations worldwide. Bubba Watson is featured in fully functioning countertop and floor displays that can be readily installed in any pro shop or golf course facility. We’re excited to collaborate with the Troon team to offer our award-winning goods to their facilities and the millions of golfers that frequent them “cbdMD, Inc. Chairman and co-CEO Martin Sumichrast remarked.
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian business shaping the future of cannabinoids across the globe, has released Bidiol, Uruguay’s first entirely locally manufactured medicinal cannabis oil. CBD oil is available in 10mL and 30mL bottles and is accessible in pharmacies throughout the nation in doses of 3% and 10%.
“The introduction of Bidiol has been two years in the making and is an essential element of our revised strategy in Uruguay,” stated Aurora Cannabis CEO Miguel Martin. “We’ve selected major foreign markets with the potential to grow their patient base significantly. Working with governments and local partners to figure out what works best in each market is one of our goals. There is no one-size-fits-all plan; instead, we must be strategic and locally relevant.”
The average dispensary income 2019 is expected to surge in the coming months.
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