Cannabis Market Growth Projected to Exceed $60 Billion by 2024

PALM BEACH, Florida, February 21, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

According to Ameri Research Inc, the global legal marijuana market was valued at $14.3 Billion in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 and 2024, culminating in 2024 global sales of $63.5 Billion. The legal marijuana market is witnessing robust growth owing to the increasing legalization and decriminalization of marijuana across North America and Europe. The rising demand of marijuana for recreational use and medical use is a key factor driving the growth. Due to the complex regulatory structure at state level and federal level, the full potential of the market is not yet realized as well the potential for continue growth. For example, sales of cannabis have overtaken alcohol in a city in Colorado; three years after the state became the first in the US to legalize recreational use of the drug. A study by Georgia State University last year found alcohol sales had tumbled 15 per cent in US states where medical marijuana had been legalized. States are legalizing the adult use of cannabis for various reasons, but there's no doubt that one of the primary ones is the potential impact on both the economy and government coffers. Active in the industry today include: Trimax Corporation, Inc. (OTC: TMXN), Medical Marijuana, Inc. (OTC: MJNA), Rising India, Inc. (OTC: RSII), Hemp Inc. (OTC: HEMP), Marijuana Company of America Inc. (OTC: MCOA).

Trimax Corporation, Inc. (OTC: TMXN) a holding corporation, is pleased to announce it has officially entered into the fast growing cannabis space by signing a Definitive Agreement to acquire 100% of the assets of Omega Tech, Inc, operating under the name Recreational Dispensary. RecreationalDispensary.com is an online portal that connects cannabis consumers with the highest rated dispensaries or storefronts, based on the user's geographic location. They make the process of shopping, buying and delivering the product to your doorstep fast, secure and simple with just one click.

With Recreational Dispensary, consumers can shop online and choose the very best inventory of various cannabis items available, in their immediate vicinity from available dispensaries, and have their goods delivered to their front door. Consumers can order by phone or use Recreational Dispensary's user friendly mobile platform which is designed to increase product sales, marketing of products, and profit margins for participating medicinal and recreational cannabis shops. Read this and more news for TMXN at http://www.marketnewsupdates.com/news/tmxn.html

Consumers over 21 years of age, simply go to recreationaldispensary.com, create an account, verify their identity, shop from their favorite dispensary, place an order, and have it delivered. It's just that simple. Medicinal and recreational cannabis shops can login and create their own storefront profile, upload their product line images, prices and contact info. They can also increase their retail exposure with paid banner ads that will drive traffic to their digital storefront and increase their business.

The overall goal is to increase new clients for retailers, increase sales, and offer retail consumers quality products and services, which results in customer retention, convenience and consumer loyalty.

Recreational Dispensary is coming out with their new version 2.0 (V2) which promises to increase speed and allow users to purchase items without having to login or create an account. Additional upgraded features include a streamlined registration process, secure user I.D. processing, and increased security with cloudflare, faster load times and multiple new cart features. V2 should be ready for launch by Feb 28th, 2018.

In other market developments of note from around the industry: 

Medical Marijuana, Inc. (OTC: MJNA), the first publicly traded cannabis company in the United States, this week announced that it has garnered national news coverage on TheStreet.com - one of the top 20 globally ranked business news sites. A February 15, 2018, article on The Street website entitled "Should You Bet on PotCoin, DopeCoin or Other Marijuana Cryptocurrencies?" quotes Medical Marijuana, Inc.'s CEO Dr. Stuart Titus stating, "The cannabis futures market might be the largest futures market in the world." Dr. Titus is also quoted talking about how there is potential for cannabis to be traded as both a commodity and an asset-based security.

Rising India, Inc.'s (OTC: RSII) -- Rising Biosciences, Inc., a research and development company focusing on oral and topical pharmaceuticals with strict standards set forward by the pharmaceutical compounding industry, announced that it will partner with PAO Group's (PAOG) Alternative Medicine Centers of America to offer a free trial of Cannophen™ to patients in the state of Ohio.  Anyone with a valid Ohio recommendation can apply for the trial at our Ohio clinics; this will be done on a patient to patient basis. Cannophen™ is an oral capsule with laboratory controlled metered dosing that can be blended in exacting ratios of THC, CBD and strain specific terpenes. It is easily digestible and fast acting and designed for patients that do not want to smoke/vape or use off-tasting tinctures.

Hemp Inc. (OTC: HEMP) last week announced that its wholly-owned subsidiary Hemp University, LLC has established a cultivation consulting division to further the University's mission to help landowners and farmers incorporate hemp into their crop rotation. Hemp University's consulting division, Hemp University Grow; focuses on the development of grow room facilities, greenhouses, outdoor hemp farming and cannabidiol (CBD) extraction operations. Known as the Mastery Grow Team, this select group of hemp growers receives the advantage of numerous operational synergies and resource sharing.  Hemp University's experts staff helps prevent growers from costly mistakes and imbalances that can reduce yield, quality, and consistency. Hemp University identified a need for a consulting division following their first major education symposium event in March 2017.

Marijuana Company of America Inc. (OTC: MCOA) this week announced the release of hempSMART™ Full Spectrum Pet Drops formulated for cats and dogs. Each bottle of hempSMART Full Spectrum Pet Drops is formulated with 250mg of full spectrum non-psychoactive Cannabidiol (CBD) derived from industrial hemp. The new specially formulated product contains naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, fractionated coconut oil, and a rich bacon flavor. Donald Steinberg, MCOA's CEO said, "Our new hempSMART product is a natural option for pet owners who care about supporting their animals' healthy energy levels as well as optimizing their health. Our hempSMART product line will continue to expand to other popular areas of consumer interest to give our affiliates what they need to succeed."

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