How Much of the U.S. Cannabis Growth Will Come From Recreational Use Market

PALM BEACH, Florida, January 8, 2019 /PRNewswire/ --

Financialnewsmedia.com News Commentary 

Predictions for the worldwide growth of the cannabis industry show much optimism for both the recreational and medicinal cannabis segments. Worldwide projections see the North American market relying on recreational sales while the European markets will be in the medical arena. As recently reported in article published on FORBES, the North America's cannabis market will go from $9.2 billion in 2017 to $47.3 billion in 2027. The article stated "According to Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%." Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), Neptune Wellness Solutions Inc. (NASDAQ:NEPT), Aphria Inc. (NYSE:APHA) (TSX:APHA), Leafbuyer Technologies, Inc. (OTC:LBUY), KushCo Holdings, Inc. (OTC:KSHB).

Also according to the FORBES article, the largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027. The main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world.

Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces that it has submitted its application to uplist to the OTCQB Venture Market. The uplisting criteria require the Company to file financial and other reports to the Securities & Exchange Commission in a timely manner in addition to undergoing an extensive verification and certification process. The Company believes it meets all of the requirements for a successful uplisting.