Recreational marijuana, medical marijuana, and cannabis cultivation have grown steadily in the past few years and are expected to continue for several years to come. The global cannabis cultivation market size is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2020 to 2027. Increasing legalization and adoption of cannabis for the treatment of chronic diseases are major factors driving the growth of the market. In addition, the liberalization of laws related to the cultivation of hemp, especially for the cultivation of hemp by various countries due to the low content of THC, increases its adoption.
Moreover, the legalization of marijuana in different geographies and its increasing adoption for medicinal purposes are among the factors driving the market for cannabis cultivation. In addition, according to a Report From Grand View Research, the demand for cannabis is growing rapidly, with many developed countries legalizing the cultivation and processing of hemp after learning about the levels of CBD present in it, leading to increased demand for cannabis extracts for various applications including pharmaceuticals and cosmetics.
Nutrients, Food and Beverages. Hemp is an agricultural commodity produced in more than 40 countries. It is a strain of Cannabis sativa, part of the Cannabis genus, with a THC content as low as 0.3%. countries like ChinaAnd CanadaAnd FranceAnd ChileAnd South KoreaAnd EcuadorAnd CroatiaAnd Czech RepublicAnd MongoliaAnd Romania, And Russia They are some of the major producers of hemp worldwide.
Companies active in the cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCPK: NUGS), Sundial Growers Inc. (NASDAQ: SNDL), Umbrella Growth Foundation (NASDAQ: CGC) (TSX: WEED), Kronos Inc. Group. (NASDAQ: krone) (TSX: CRON), Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY).
The Grand View Research report said that based on biomass, the cannabis sector dominated the cannabis cultivation market… This high share is attributed to the increased adoption of cannabis and its derived products and its increasing acceptance among users due to its decline. THC content. Furthermore, marijuana is expected to be the fastest growing sector, growing at a significant rate of growth during the forecast period. This growth can be attributed to the increasing legalization of marijuana in various countries for both medical and adult use. In addition, promising government reforms regarding cannabis use in many countries are increasing the adoption of cannabis and its derived products. for example, Japan Marijuana products were not legalized, however, due to the low THC content, CBD hemp oil was legalized. Therefore, positive government initiatives and increased awareness are expected to contribute to the overall growth.”
Cannabis Strategic Ventures, Inc. (Pink OTC: NUGS) Breaking news: NUGS announces fully executed Memorandum of Understanding to acquire large capacity indoor cannabis growing facility – Cannabis Strategic Ventures, Inc., a leader in the cannabis market in the United States, is pleased to announce the signing of a Memorandum of Understanding (“MOU”) between Cannabis Strategic Ventures and Devine Solutions, Inc. California , relating to NUGS’ proposed acquisition of an indoor cannabis growing facility (the “Facility”) in Sacramento, California.
In accordance with the terms of the MoU, the company intends to purchase 10% of the facility at an appraisal 15 million dollars for the entire facility, with the option to purchase an additional 41% of the facility (which will include a 51% controlling interest) at the same valuation.
The facility covers approximately 15,600 square feet and has the capacity to house an estimated 500 grow lights. Expected to produce 2-3 lbs. of excellent exotic cannabis flower per light per harvest across an estimated 5.75 crops per year, indicating a potential over 7,000 lbs. of the excellent cannabis flower of the year.
Simon YuNUGS CEO, commented: “This transaction represents the potential to sharply increase our capacity to produce premium cannabis and materially increase our position as an emerging leader in vertical integration. California Hemp market. We have already brought together years of experience improving our farming methods and strains in an outdoor setting through our NUGS Farm North site. The addition of a first-class indoor growing operation will help us continue to build on this success and achieve more volume in the premium flower market, which has strong implications given our recent expansion into the dispensary market with our MDRN Tree dispensary location in downtown Los Angeles. This merger gives NUGS expansions at both ends of the farm-to-sale model.” continued… To read this full version and More NUGS, please visit https://www.financialnewsmedia.com/news-nugs/
Other recent developments and major influences in the cannabis industry include:
Kronos Inc. Group. (NASDAQ: krone) (TSX: CRON) recently announced SPINACH FEELZ™ Chill Bliss 2:1 THC Product Launch | CBG gummy, the first edible cannabis of its kind in the world Canada To bring out the cultured THC and cannabigerol (“CBG”) from fermentation into a sweet and savory gum for adult consumers. As the only cannabis in gum Canada To highlight the cultured CBG, one of the many rare cannabinoids found in small amounts within the cannabis plant, this gum is designed to deliver a happy and relaxing experience.
SPINACH FEELZ™ Chill Bliss 2: 1 THC | CBG comes in a Starfruit Pineapple flavor and features the same double-flavor blend and flavor masking technology that has made SOURZ™ gummies one of the best-selling hemp in the world. Canada.
Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), Mountain High Products LLC, Wana Wellness LLC, and The Cima Group LLC Enter In definitive agreements providing canopy growth the right, based on federal permission for THC (Tetrahydrocannabinol) in United State, to acquire 100 percent of the prominent organic interests of Wana, the No. 1 cannabis industry brand in North Amarica By market share.
Wana Company manufactures and sells gelatin candy in the state of Colorado It licenses its intellectual property to partners, who manufacture, distribute, and sell WANA-branded chewing gum throughout the United States, including CaliforniaAnd ArizonaAnd IllinoisAnd Michigan And Florida, giving Wana a total footprint of currently 12 US states and across Canada. Wanna expects to have licensing agreements in place in more than 20 US states, including future adult use markets in New York And New Jerseybefore the end of 2022.
Sundial Growers Inc. (NASDAQ: SNDL) recently announced that he entered into an arrangement agreement (“an agreementwith Alcanna Inc. (CLIQ) (“)kana“) under which Sundial will acquire all issued and outstanding ordinary shares of Alcanna (“)kana arrow‘) by legal plan to arrange for almost complete consideration 346 million dollars (The “Transaction“).
With over 25 years of experience selling controlled products, Alcanna is Canada’s largest privately held liquor retailer, operating 171 locations predominantly in Alberta under its three retail brands Wine and Beyond, Liquor Depot and “Ace Liquor”. Alcanna’s strategic partner, in which it holds an approximately 63% stake, Nova Cannabis Inc. (TSX: NOVC) (“Nova‘), one of Canada’s largest cannabis retailers and offers a wide range of quality cannabis products at value prices. Nova currently operates 62 stores across Alberta, Saskatchewan and Ontario primarily under the ‘Value Buds’ and ‘Nova Cannabis’ banners.
Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), a global leader in medical cannabis research, cultivation, production and distribution, recently announced Selected by the Luxembourg Ministry of Health as a supplier of Good Manufacturing Practices (GMP) certified medicinal cannabis products for the country’s medical cannabis program.
Following this selection, Tilray will provide a variety of pharmaceutical grade medical cannabis products, including extracts and dried flowers with different degrees of THC and CBD for patients with various medical conditions. Prescription-based medicinal cannabis products will be given to eligible patients in Luxembourg Under the supervision of doctors.