 The cannabis boom is just in the early stages of major growth.
Over the next decade, spending on worldwide cannabis could reach $57 billion by 2027, according to Arcview Market Research and BDS Analytics. One of the largest groups of buyers, they note, will be in North America, where sales are expected to reach $47.3 billion in 10 years.
Analysts at Cowen note the U.S. cannabis market could rocket to $16 billion by 2025.
Even analysts at Piper Jaffray say we could be looking at a global market value of between $250 billion to $500 billion a year. “We believe the long-term growth can be significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health [and] wellness categories to CBD-infused products,” said the analysts, as quoted by MarketWatch.
One area seeing a major impact from the boom is in consumer-packaged goods.
As executives from big retail brands and consumer-packaged good companies just begin to pour into the cannabis industry, it’s creating sizable opportunities in up-and-coming companies.
In fact, one of the top companies to watch is SLANG Worldwide Inc. SLGWF.
SLANG Worldwide Inc.
The company acquires and develops leading branded cannabis products, distributing them to a national audience. Its customers have bought more than $240 million worth of the company’s products from dispensaries throughout the U.S. since 2014, including hardware, edibles, concentrates, genetics and flower, and beverages.
At the moment, the company is licensed in 10 states, Canada, and Jamaica with branded products available in more than 2,600 retail locations. It also has one of the most diverse portfolios of leading brands, including O.penVape – the second highest selling brand with over $187 million sales since 2011.
Plus, its diverse portfolio of proven, successful brands will be deployed nationwide into new markets, and will include fully activated District Edibles, Pressies wellness supplements that contain nutraceuticals and cannabis oil, and Magic Buzz cannabis beverages.
“The SLANG Worldwide team continues to execute on our strategy and is positioned to become a global house of cannabis brands, serving legal cannabis markets around the world. We’ve leveraged our long-fostered relationships in the cannabis Industry to attract world-class management and board members.”
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