Palm Beach, FL – December 21, 2022 – FinancialNewsMedia.com News Commentary – The global cannabis cultivation market has grown significantly during the COVID-19 pandemic. The demand for hemp is rapidly growing, as many developed countries have legalized the cultivation and processing of hemp after recognizing the levels of CBD present in it, which is leading to an increased demand for hemp extracts for various applications in several sectors, including pharmaceuticals, cosmetics, nutraceuticals, and food & beverage. Hemp is regarded as an agricultural commodity produced in over 40 countries. A report from Grand View Research projected that the global cannabis cultivation market size, which was valued at USD 323.9 billion in 2021 is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2022 to 2030. The report said: “Growing legalization and the adoption of cannabis for the treatment of chronic diseases are the key factors driving the growth of the market. In addition, the liberalization of laws related to cannabis cultivation, especially for hemp cultivation by various countries due to low THC content is further increasing its adoption. Furthermore, the legalization of marijuana in various geographies and its increasing adoption for medical purposes are factors driving the market for cannabis cultivation… And that figure is certain to climb as more individuals come around to the concept of legalizing marijuana across the U.S.” Active Cannabis stocks in news today include: CannaPharmaRx, Inc. (OTCPK: CPMD), Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB).
“Based on biomass, the hemp segment dominated the market for cannabis cultivation and accounted for a revenue share of around 80% in 2021. The high share is attributable to the increasing adoption of hemp and derived products and its growing acceptance among users due to its low THC content. Furthermore, marijuana is expected to be the fastest-growing segment, growing at a significant growth rate over the forecast period. This growth can be attributed to the growing legalization of marijuana in various countries for medical and adult use. In addition, promising government reforms regarding the utilization of hemp in many countries are increasing the adoption of hemp and hemp-derived products. It added: “In 2021, based on application, industrial consumption accounted for the highest revenue share of 73.3% in the cannabis cultivation market. This is owing to the growing application of marijuana and hemp in various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and beverages. Furthermore, factors such as the growing usage of cannabis and its derivatives as raw material by companies to produce innovative cannabis-infused products are expected to propel the growth of the market for cannabis cultivation during the forecast period.”
CannaPharmaRx, Inc. (OTC PINK:CPMD) BREAKING NEWS – CannaPharmaRx Receives Cultivation License from Health Canada and Projects 2023 Annual Revenue over $30 Million – CannaPharmaRx, Inc., a future leader in ultramodern, highly efficient cannabis production facilities announced today it received its cultivation license from Health Canada.
The license, LIC-3JCQW6DIU0 is a major step towards production. A standard cultivation license is necessary for larger companies that want to build and grow in a large-scale facility. Upon receiving the cultivation license the company can now grow cannabis and sell wholesale to other licensed producers.
Now that the cultivation license is approved the company anticipates completing the first harvest and sales during Q1 2023 with estimated annual revenue over $30 million.
“The company now has the facility in Cremona in the final preparations of facility opening. As a result of a multi-million dollar offtake agreement, several strains of genetics for a variety of high-quality cannabis products and a cultivation license, we are primed to enter the cannabis market. This keeps us on track to complete our first harvest and distribution during the next few months with rapid revenue expansion,” stated Nick Colvin, CEO of CannaPharmaRx. CONTINUED… Read this entire press release and more news for CannaPharmaRx at: https://www.financialnewsmedia.com/news-cpmd/
In other cannabis industry news of note includes:
Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), a leading and top-performing cannabis company in the United States, recently announced their partnership with California-based Connected Cannabis and AlienLabs. As part of the announcement, Trulieve is the exclusive provider of Connected Branded products throughout Florida.
“Trulieve consistently seeks ways to introduce new products and better serve our patients,” said Kim Rivers, CEO of Trulieve. “Connected and AlienLabs represent a portfolio of top-shelf strains that have benefited medical patients in other states, and we’re now excited to exclusively offer these products exclusively in Florida.”
Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), a leading international provider of consumer cannabis products, recently announced that its third “The Farmer’s Select” product collaboration is now available across California in partnership with Autumn Brands, a woman-and-family-owned farm nestled on the coast of Santa Barbara County.
Autumn Brands cannabis is grown using sustainable farming techniques, natural sunlight and 100% no-spray cultivation. Utilizing a closed-loop watering system, Autumn Brands ensures that no water is wasted during the growing process and all organic waste is composted. This focus on quality, consistency and sustainability ensures nothing but the best cannabis reaches consumers.
Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, recently announced that the Company will release financial results for its second quarter ended November 30, 2022 on January 9, 2023.
Live Audio Webcast – Tilray will host a live audio webcast to discuss these results at 8:30 am Eastern Time, which can be accessed on the Investors section of Tilray’s website at www.Tilray.com. A replay will be available and archived on the Company’s website. Additionally, the live audio webcast will be syndicated on the www.Public.com investor app.
Retail Investor Q&A – Tilray Brands stockholders can submit and upvote questions to Tilray via the stockholder Q&A platform Say Technologies beginning today and until January 8, 2023. To submit questions ahead of the webcast, please visit the Say Technologies platform at https://app.saytechnologies.com/tilray-brands-2023-q2.
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced its Greybeard Cannabis Co. brand has won KIND Magazine’s ‘Best Diamonds of the Year’ award, as voted by hundreds of budtenders, store managers and independent cannabis retail owners across Canada.
Greybeard is known for its premium cannabis flower, vapes and concentrates including Trufflez Diamonds & Sauce and FPOG Live Resin Diamonds & Sauce. The Greybeard brand joined Aurora’s portfolio when the company acquired Thrive Cannabis earlier this year.
“We’re proud to be recognized by some of the most important and influential members of the cannabis industry – retailers and budtenders,” says Geoff Hoover, Senior Vice President of Consumer at Aurora Cannabis. “This award is a testament to our continued commitment to quality and our team’s unwavering focus and passion for delivering only the best products for our consumers.”
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty six hundred dollars for news coverage of the current press releases issued by CannaPharmaRx, Inc. by a non-affiliated third party.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757
SOURCE Financialnewsmedia.com
The post Cannabis Cultivation Revenue Continues to Climb as Demand & Usage Grows Across North America appeared first on Financial News Media.
