Prosperous Future Expected for CBD and Hemp Industry That's Primed for Expansive Growth

PALM BEACH, Florida, August 30, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

The rapidly rising demand for Cannabidiol (CBD) and Hemp based products is showing no signs of slowing down as expectations to push both markets into new territories with exploding sales value in the next coming years. The global industrial hemp market size is expected to reach USD $10.6 billion by 2025, according to a new report by Grand View Research, Inc. and the market is anticipated to expand at a CAGR of 14.0%. The North American CBD market is primed for expansive growth across its three primary sectors, hemp-derived CBD, marijuana-derived CBD and pharmaceutical CBD. With recent developments and advancements in the hemp industry, farmers across the country are turning their attention to commercialization looking for the road to profitability. Increasing R&D activities to develop perfect agronomy and new genetics of crops to obtain high yield and improved product quality are expected to have a positive impact on CBD - Hemp production. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), GrowLife, Inc. (OTC:PHOT), MPX Bioceutical Corporation (CSE:MPX) (OTC:MPXEF), Kush Bottles, Inc. (OTC:KSHB), Terra Tech Corp. (OTC:TRTC).

Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group Inc. (CSE: GHG) (OTC:GBHPF) (FRANKFURT: GHG) (the "Partners") are pleased to provide an update on their CBD hemp farming joint venture in New Brunswick, Canada (the "Project").

Dryer Installation - Drying of the biomass is an important first step in the extraction of the cannabinoids from the hemp plant. The partners are pleased to announce that the Project's industrial scale dryer from Cann Systems was delivered last week and has now been installed.

The dryer holds multiple bins of material, for a total processing capacity of just over one tonne of fresh hemp biomass per load. Initial testing is in progress and will be completed by the end of this week. Once the biomass has been dried from this year's harvest, it will be stored until the implementation of the Cannabis Act on Oct. 17, 2018, at which time the biomass can be legally sold for extraction. Health Canada has recently issued a new Class Exemption to the Industrial Hemp Regulations that allows hemp cultivation license holders to legally harvest, dry and store flowers, leaves and branches prior to the passage of the Cannabis Act. Management is currently in discussions with potential offtakers for selling the dried biomass in bulk, as well as exploring potential strategies for toll extraction and the marketing and distribution of processed and refined oils.