Report Projects Annual Retail Sales of Cannabis in the U.S. to Exceed USD 20 Billion by 2022
October 04, 2018 at 09:00 AM EDT
NEW YORK, October 4, 2018 /PRNewswire/ --
According to a report by Marijuana Business Daily, cannabis retail sales continue to increase year-over-year as more states legalize cannabis products for both medical and recreational use. Sales in 2018 are projected to increase by approximately 50% when compared to 2017. Sales value is also on track to reach USD 8 Billion - USD 10 Billion by the end of 2018. Additionally, the report specifies that by 2022, annual retail cannabis sales in the United States could exceed the USD 20 Billion mark, representing a 200% surge from 2017. Legal cannabis markets are presently on the rise in major states such as California, Nevada, Colorado and Washington, amongst others. AmeriCann, Inc. (OTC: ACAN), New Age Beverages Corporation (NASDAQ: NBEV), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Intec Pharma Ltd. (NASDAQ: NTEC), Cannabis Sativa, Inc. (OTC: CBDS)
Canada's new laws, officially making cannabis products legal from earlier this June, are expected to create a pioneering business environment. A report by CBC, University of Waterloo entrepreneurship professor, Nada Basir, explained, "Where I think we're going to see a lot of startup activity around this new legislation is in activities outside the traditional growth and transaction of the product… typically, historically, this is where we see innovation really happen because it becomes the survival of the fittest, and to survive you're going to have to figure out how to scale, how you can be more efficient, how you can save costs."
AmeriCann, Inc. (OTCQB: ACAN) just this morning announced breaking cannabis news that the, "Company to produce branded cannabis beverages, vaporizer products, edible and non-edible products and concentrates, an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, has announced plans to own and operate a large-scale cannabis manufacturing and processing facility at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA. The company has commenced construction on the first phase of the MMCC and recently released designs for the second phase. The second phase includes AmeriCann's manufacturing facility which is designed to provide support to the entire MMCC project, as well as to other licensed cannabis cultivators throughout Massachusetts.
"Participating directly as an operator allows us to have a larger impact and greater flexibility in meeting consumer and patient demand throughout the country," said Tim Keogh, CEO of AmeriCann.
AmeriCann's manufacturing facility is designed to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility. The company plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state operator.
Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, "Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE: STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE: CPG) which makes cannabis infused drinks and other products."
"In Colorado, consumers purchased 12.2 million marijuana infused products in 2017, stated Ben Barton, CFO of AmeriCann. "AmeriCann's advanced processing and production facility in Massachusetts should play a large role in meeting similar levels of cannabis consumer's needs in Massachusetts for a consistent supply of a variety of trusted, reliable branded products."
Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.
About Massachusetts Medical Cannabis Center - Massachusetts Medical Cannabis Center (MMCC), a one million square foot sustainable greenhouse facility in Freetown, Mass. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the spring of 2019. Once fully developed, the MMCC design calls for a research facility, a training center, corporate offices, a quality-assurance laboratory, and a facility for manufacturing cannabis-infused food, nutraceuticals and consumer packaged cannabis goods. AmeriCann intends to open similar facilities in states in which cannabis is legal for medical and adult use.
About AmeriCann - AmeriCann (OTCQB: ACAN) is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties. AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann's Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability. AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the Company's commitment to social and environmental ethics, transparency and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation. More information about the Company is available at: http://www.americann.co, or follow AmeriCann on Twitter @ACANinfo
New Age Beverages Corporation (NASDAQ: NBEV) is a Colorado-based healthy functional beverage company that was created over the past two years with the combination of Búcha Live Kombucha®, XingTea®, Coco-Libre®, and Marley®, to create a one-stop-shop solution for retailers and distributors providing healthier beverages in the disruptive growth segments of the USD 1 Trillion-dollar non-alcoholic beverage industry. New Age Beverages Corporation recently announced that it intends to debut its portfolio of CBD infused beverages at the upcoming North American Convenience Store show (NACS) to be held at the Las Vegas Convention Center on October 7-10th, 2018. Zach Ross, Marley Marketing Manager at New Age commented, "We believe we have developed unique consumer insights and accessed superior technology in CBD-infused beverages over the past year, and we are excited to share those insights with key retail partners. We believe we are in a position to bring national leadership to this emerging growth segment, and intend to launch the most efficacious and safe CBD-infused products for consumers, with the most responsible marketing and education to a segment that has potential to be transformative to healthy functional beverages."
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is focused on delivering novel, transformational medicines with optimized pharmacology and pharmacokinetics to patients globally. Arena's proprietary pipeline includes multiple potentially first- or best-in-class programs with broad clinical utility. Arena Pharmaceuticals, Inc. recently announced positive topline results from its Phase 2a trial of olorinab, an investigational, peripherally restricted, highly selective, full agonist of the cannabinoid receptor 2 (CB2) in development for the treatment of gastrointestinal pain. Preston Klassen, MD, MHS, Chief Medical Officer of Arena, said, "The intent of this Phase 2a study of olorinab was to get directional information on the safety, tolerability and therapeutic potential to reduce gastrointestinal pain in patients with Crohn's disease and symptoms of chronic abdominal pain. Despite its small size and uncontrolled design, this trial provides early results that suggest a robust clinical response and supports continued, rapid development of olorinab, potentially targeting several diseases in which gastrointestinal pain is a hallmark. We look forward to providing additional detail on the development path forward during Arena's R&D Day on October 4th." source: https://www.prnewswire.com/news-releases/arena-pharmaceuticals-reports-positive-phase-2a-results-for-olorinab-in-patients-with-abdominal-pain-associated-with-crohns-disease-300717790.html
Intec Pharma Ltd. (NASDAQ: NTEC) is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various indications including low back neuropathic pain and fibromyalgia. Intec Pharma Ltd. recently announced that three posters in support of the Company's Phase 3 clinical development program for the Accordion Pill™ Carbidopa/Levodopa (AP-CD/LD), will be presented at the upcoming International Congress of Parkinson's and Movement Disorder Society (MDS 2018) being held from October 5-9th, 2018 in Hong Kong. "We are particularly pleased to have several posters at this important medical meeting discussing our Phase 3 clinical development program for AP-CD/LD as a potential best-in-class levodopa therapy for advanced Parkinson's disease patients," stated Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma. "We believe these posters will enhance visibility for our late-stage program among an audience of scientists, clinicians and industry experts who specialize in Parkinson's disease management."
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis-based products and services, operation of cannabis related technology services, and ancillary business activities. Cannabis Sativa, Inc., subsidiary PrestoDoctor, recently announced that it is currently providing online medical marijuana recommendations to Pennsylvania residents via its HIPPA compliant trusted online recommendation platform https://Prestodoctor.Com/ , offering residents a convenient online option when it comes to getting their Pennsylvania Medical Marijuana Card. "Easier access to alternative care is the driving mission at Presto Doctor, and has made PrestoDoctor the #1 rated online medical marijuana recommendation platform," said Chief Executive Officer Kyle Powers, "We are committed to serve patients in Pennsylvania with the integrity we have displayed in California, Nevada and New York."
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