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$NBEV Report Projects Annual Retail Sales of Cannabis in the U.S. to Exceed USD 20 Billion by 2022
By PR Newswire, October 04, 2018, 09:00:00 AM EDT
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FinancialBuzz.com News Commentary
NEW YORK, October 4, 2018 /PRNewswire/ --

According to a report by Marijuana Business Daily, cannabis retail sales continue to increase year-over-year as more states legalize cannabis products for both medical and recreational use. Sales in 2018 are projected to increase by approximately 50% when compared to 2017. Sales value is also on track to reach USD 8 Billion - USD 10 Billion by the end of 2018. Additionally, the report specifies that by 2022, annual retail cannabis sales in the United States could exceed the USD 20 Billion mark, representing a 200% surge from 2017. Legal cannabis markets are presently on the rise in major states such as California, Nevada, Colorado and Washington, amongst others. AmeriCann, Inc. (OTC:ACAN), New Age Beverages Corporation (NASDAQ:NBEV), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Intec Pharma Ltd. (NASDAQ:NTEC), Cannabis Sativa, Inc. (OTC:CBDS)

Canada's new laws, officially making cannabis products legal from earlier this June, are expected to create a pioneering business environment. A report by CBC, University of Waterloo entrepreneurship professor, Nada Basir, explained, "Where I think we're going to see a lot of startup activity around this new legislation is in activities outside the traditional growth and transaction of the product… typically, historically, this is where we see innovation really happen because it becomes the survival of the fittest, and to survive you're going to have to figure out how to scale, how you can be more efficient, how you can save costs."

AmeriCann, Inc. (OTCQB: ACAN) just this morning announced breaking cannabis news that the, "Company to produce branded cannabis beverages, vaporizer products, edible and non-edible products and concentrates, an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, has announced plans to own and operate a large-scale cannabis manufacturing and processing facility at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA. The company has commenced construction on the first phase of the MMCC and recently released designs for the second phase. The second phase includes AmeriCann's manufacturing facility which is designed to provide support to the entire MMCC project, as well as to other licensed cannabis cultivators throughout Massachusetts.

"Participating directly as an operator allows us to have a larger impact and greater flexibility in meeting consumer and patient demand throughout the country," said Tim Keogh, CEO of AmeriCann.

AmeriCann's manufacturing facility is designed to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility. The company plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state operator.

Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, "Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE:STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE:CPG) which makes cannabis infused drinks and other products."

"In Colorado, consumers purchased 12.2 million marijuana infused products in 2017, stated Ben Barton, CFO of AmeriCann. "AmeriCann's advanced processing and production facility in Massachusetts should play a large role in meeting similar levels of cannabis consumer's needs in Massachusetts for a consistent supply of a variety of trusted, reliable branded products."

Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.