NEW YORK, NY / ACCESSWIRE / September 14, 2015 / According to Arc View Market Research, the market for legal marijuana reached $2.7 billion in sales for 2014, growing from $1.53 billion in 2013. This growth is expected to continue, with the market increasing by 32% in 2015, and reaching $10.2 billion by 2018. Between 2009 and 2014, the cannabis industry grew 16.2% annually, and growth is expected to increase to 23.3% annually between 2014 and 2019. Cannabis is currently the fastest growing industry in the United States. If marijuana is legalized at the federal level, revenues for the legal cannabis industry could reach $35 billion by 2020 according to Greenwave Advisors. Currently, 23 states have legalized medical marijuana, and two states, Washington and Colorado, have legalized marijuana for recreational use.
The size and rapid growth of the legal marijuana market has resulted in a highly competitive and fragmented market which has attracted numerous smaller players that offer everything from retail marijuana and hemp products, software and services for operating marijuana or hemp-related businesses, medical marijuana and hemp products, and devices for cultivating, growing, and harvesting marijuana and hemp plants. Four publicly-traded companies targeting various segments of the legal marijuana market are Hemp, Inc. (PINKSHEETS: HEMP); Medical Marijuana Inc. (PINKSHEETS: MJNA); Oxis International, Inc. (OTCQB: OXIS); and Terra Tech Corporation (OTCQB: TRTC). Each of these companies will be subject to different catalysts and market forces.
An analyst report on the markets for legal marijuana and hemp that includes analyst recommendations of the four companies, recent events, and outlook can be viewed by using the following link at no cost.
http://bit.ly/_Legal_Marijuana_Due_Diligence_Report
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