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Cannabis and Hemp Facts

Cannabis cannabinoids can be found in more than 1,000 products, ranging from edibles to beverages to pet products to skin creams. These cannabinoids generally consist of CBD (cannabidiol), a non-intoxicating component of cannabis and hemp, and moderate THC (tetrahydrocannabinol), the part of cannabis responsible for the psychoactive “high” often associated with marijuana.

The world is starting to identify the medical benefits (and lack of side effects) of CBD. Hemp, which became legal across the U.S. at the start of 2019 through the passage of the Farm Bill, is defined as cannabis sativa containing less than 0.3% THC. In January 2018, the World Doping Agency removed CBD from its banned substance list, further validating its efficacy and safety.

33 U.S. states have legalized cannabis for medical uses, while 10 states and Washington, D.C. allow recreational uses. Last October, Canada legalized marijuana for all adults but products have been limited. Revised legislation will open the Canadian markets to a variety of new cannabis products, including extracts. That means that about 260 million people in North America has access to cannabis in one form or another.

It’s no surprise that the industry experts at Arcview Market Research and BDS Analytics are calling for the legal cannabis market in the U.S. alone to reach $22.2 billion in 2022.

Leading the growth is concentrates, which, according to the BDS’s GreenEdge have experienced 22.1% compound annual growth across 2014-2018 to now make up one-third of the total cannabis market. A deeper dive shows the cannabis oil market segment is surging, forecast to grow at a stunning 46.9% CAGR from 2019-2025 to reach $2.16 billion.

About AppSwarm Corp

AppSwarm is a technology company specializing in the accelerated development and publishing of mobile apps and other software platforms for gaming and business applications, while focusing on synergistic growth through acquisition opportunities. AppSwarm partners with and assists other development firms in technology development, business management, and funding needs. For more information, visit; www.app-swarm.com or www.delivery-swft.com

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