New Report: U.S. CBD Sales to Reach $2.1B by 2020 With $450M From Hemp Industry

COLORADO: The Hemp Business Journal (HBJ), the hemp industry’s authority on big data and market intelligence, has released The CBD Reportshowing cannabidiol as one of the fastest growing market categories in the U.S. hemp and legal marijuana industries with a compound annual growth rate of 59%.

Partnering with market leading consumer data experts SPINS and BDS Analytics, market modeling experts and hemp insiders with years of experience and sales data, Hemp Business Journal estimates the total U.S. CBD market will grow to a $2.1 Billion market in consumer sales by 2020 with $450 million of those sales coming from hemp based sources. Projections to date for 2016 indicate the hemp-derived CBD market is poised to grow to $115 million by the end of the year.

The hemp-derived CBD market grew from a market that was barely noticeable a few years ago to $90 million in 2015 for consumer sales of CBD products. Hemp Business Journal shows another $112 million of marijuana-derived CBD products were sold through dispensaries in 2015, for a total CBD market size of $202 million in 2015 across all hemp and legal marijuana markets.

The CBD Report is the first comprehensive market overview to define and analyze the acceleration of the emerging CBD market category. The report features the first ever analysis across consumer sales in seven consumer channels including Dispensaries, Natural and Specialty Retail, Mass Market, Practitioner, Internet, Smoke/Head Shops and Pharmaceuticals. Until now, no other market report has combined analysis of hemp and legal marijuana consumer sales to show a cumulative view of where the broader cannabis industry is trending.

The CBD Report also includes an investment guide and coverage of market leading companies including GW Pharmaceuticals (NASDAQ: GWPH), Insys Therapeutics, CV Sciences (OTCQB: CVSI), Bluebird Botanicals, Atalo Holdings, CW Hemp, O.pen Vape, Dixie Elixirs and more.

“The CBD Report is the culmination of more than a year of focused market research. We’ve been to Israel, Europe, Canada and to farms, labs and retailers across the U.S. to cover the hemp industry. By analyzing consumer sales in the hemp and marijuana industries, we’ve provided the first view to investors, executives and regulators on what’s really happening with CBD, the hottest category in the broader multi-billion dollar cannabis industry,” said Hemp Business Journal Founder and Publisher, Sean Murphy.

Education Takes Top Billing At Cannabis World Congress in Los Angeles

NEW JERSEY: Organizers of the Cannabis World Congress & Business Exposition (CWCBExpo) unveiled its programming lineup for September 7-9 at the Los Angeles Convention Center in Los Angeles, California.  More than 100 speakers will provide subject matter expertise on tracks that cover:  Starting & Running a Cannabis Business; Industry Trends & Innovations; Legislation & Advocacy; Science & Technology; and Legal & Finance.

“This year’s Los Angeles conference program was built with the most important and relevant speakers, presenters and topics regarding the cannabis industry today. Much consideration of our program content has been given to the recreational legislation that is coming up for a vote this fall as well as the opportunities for continued explosive growth in the industry,” said Christine Ianuzzi, Managing Partner and Show Director, CWCBExpo.

Leading cannabis and business authorities scheduled to speak at CWCBExpo LA include:  David Dinenberg, Founder and CEO, Kind Financial; Felicia Carbajal, Co-Founder, California Cannabis Advocates; Wanda James, CEO, Simply Pure Dispensary; Kenny Morrison, Founder and CEO, VCC Brands; Saul Kaye, Co-Founder and CEO, iCAN: Israel-Cannabis; Heather Manus, President, Arizona Cannabis Nurses: and Chris Sayegh, The Herbal Chef.

More than 60 sessions will be presented at CWCBExpo LA including on point panel discussions covering: “Cannabis Growing Strategies 101;” “Edibles and Infusions;” “Industrial Hemp: Made in America;” “Weed is Green and Money is Too: Cannabis Accounting;” “Endocannabinoid System and Cannabinoid Therapeutics;” and “CannaTech: How New Technology Will Help Grow the Industry.”

CWCBExpo LA will also have vetted presentations on: “Cannabis for this Generation and the Next;” “How Do I Successfully Raise Money for My Business;”  “Marketing to Multicultural Consumers;” “Medical Cannabis for Pediatrics;” and “International Opportunities for Medical Marijuana.”

“California is at the forefront of cannabis innovation and growth and CWCBExpo LA will be the premier source for the right information, products and partners to drive businesses and move the industry forward,” added Dan Humiston, Managing Partner, CWCBExpo.

            CWCBExpo LA will also feature top Keynote Speakers and its highly successful thought leadership “CTE, Concussions and CBD” panel featuring top NFL and NHL players, with a new panel of all-star female athletes. In addition, a high-level legislative conversation, “Failure is Not an Option,” is planned for CWCBExpo LA and a celebrity panel of entrepreneurs discussing business, access and advocacy.  All-day workshops will take place on September 7, with the Conference Program and Exhibits taking place September 8-9.  A career fair, hosted by Vangst Talent will close out the event on Saturday, September 10.    

            Support of CWCBExpo LA is strong with Xanders and CW Hemp signed on as a Platinum Sponsors, Elixinol as a Gold and Press Office Sponsor, SIVA as a Gold, Show Guide & Directory and Lanyards Sponsor, Advanced Nutrients as a Silver and Show Bag Sponsor along with Socal Safe, SprayZone.net, Plus CBD Oil, and PR0HBTD as Featured Exhibitors. CWCBExpo LA also has Realm of Caring and Coalition for Access Now as its Advocacy Partners joined with Drug Policy Alliance (DPA), Marijuana Policy Project (MPP), NORML, and many other products and services companies exhibiting.

Discounted early bird conference rates are in effect until July 25 for the Cannabis World Congress & Business Expo in Los Angeles (CWCBExpo LA) and can be found at www.cwcbexpo.com. For more information on sponsoring or exhibiting visit http://www.cwcbexpo.com/2015-information/exhibit-info/ or contact: kgiammatteo@leexpos.com or call 201-580-2054.

MJ Headline News Debuts Mobile News App For Cannabis Professionals

WASHINGTON: The legal cannabis industry is dynamic and complex like none other. For the overworked, resource-tight cannabis professional, staying apprised of the latest news, events and innovations in the fastest growing industry in the country is daunting. But, we have it covered!

The Marijuana Business Association has now released The MJHeadlineNews App – the ultimate mobile app for the cannabis professional. The MJHeadlineNews App is the #1 mobile app for cannabis industry news, market data, videos, events and social media. Released by MJBA, the leading trade organization for professionals in legal cannabis and publishers of MJNewsNetwork.com, Marijuana Green Pages and Marijuana Channel One, this app delivers the latest business intelligence at your fingertips.

MJHeadlineNews  features original reporting and content from the industry’s top sources:

MJNewsNetwork: Original reporting from the web’s #1 source of cannabis news

MJTicker: Wholesale and Retail market data and Top Ten Charts from Front Runner Data

Marijuana Channel One: MJ Videos and Live Events

Marijuana Green Pages: Comprehensive B2B directory listings put “Everyone you need to know to start or grow your business” at your fingertips

 The MJHeadlineNews App is FREE, and available now at the iTunes App Store and Google Play:

https://itunes.apple.com/us/app/mj-headline-news/id1114119776?ls=1&mt=8

https://play.google.com/store/apps/details?id=com.app_mjhnews.layout

 

 

The Wink In Weed: Evolving To Better Serve The Marijuana Marketplace

By David Rheins

Businesses are living organisms that follow a natural lifecycle. From conception as an idea in the mind of the entrepreneur, through each phase of development, the rough edges of each business are honed, shaped and sharpened by market realities. We learn and evolve as we grow: adding employees, encountering and overcoming competitive challenges, exploring opportunities, and servicing our customers. The marketplace is unambiguous about what it wants — voting with money and mindshare – and in that way influences the trajectory of every business participant.

The idea for the creation of the Marijuana Business Association came back in early 2012, before recreational marijuana was legal in either Washington or Colorado. We saw that there was a tremendous support for creating a legitimate cannabis industry among would-be licensees and consumers, but practically no institutional support or infrastructure to help them.  We built our core services in direct response to the common needs and concerns voiced from the literally hundreds of activists, dispensaries, growers, topical-makers, and entrepreneurs we spoke with as we were refining our business plan.

Blue Line Protection Group Inc. said it's opening a new 12,000-square-foot facility in Denver that will be able to house its armored vehicles, count companies' cash, and store cash in vaults. It's scheduled to open in the first quarter of next year, the company said.

Getting and staying informed is one of the biggest challenges for our business members — licensed growers, processors and retailers, and the many ancillary business professionals who support them.  State regulations are dynamic, and ever-changing. Most first generation cannabis businesses are ill-informed, and under resourced.  They have an ongoing need for reliable information about getting licensed and staying compliant, and the technical challenges of their new profession as a grower, or processor or retailer.

The Marijuana Business Association was created to provide participants in the newly legal cannabis industry with three core values: Reliable Business Intelligence, Professional Community and Commercial Opportunity.   Three years ago, MJBA began publishing MJHeadlineNews on Facebook as a social forum for aggregating the day’s most important cannabis news from both the mainstream media and the pot press.  The site immediately generated tremendous response, and attracting a national audience. Today the MJHeadlineNews page boasts 160,000 Likes with robust community engagement.

"Forcing businessmen and businesswomen who are operating legally under Oregon state law to shuttle around gym bags full of cash is an invitation to crime and malfeasance," said Sen. Jeff Merkley, D-Ore. "It's time to let banks serve these legal businesses without fearing devastating reprisals from the federal government."

Increasingly we’ve seen the mission of our MJNewsNetwork.com as not only disseminating the news from other sources, but also the creation of our own original content.  We’ve now published hundreds of original videos from MJBA events and other industry happenings on our Marijuana Channel One on YouTube. And are in the process of building out our suite of web sites, professional educational programming and publications to deliver even more value.

MJBA Meetups have become a reliable monthly occasion where cannabis professionals can share news, and engage in professional networking in an ideal environment for establishing one’s professional and personal brands. We’ve grown, from monthly meetings in Seattle, to supporting regular MJBA meetups in Spokane, Bellingham, Tacoma, Portland, Denver and New York. Thousands of industry professionals have attended our job fairs, vendor fairs and professional education seminars, and tens of thousands more have watched the 300 original videos we’ve captured from MJBA and other cannabis industry trade events.

As the needs of the marketplace have evolved over the past three years, MJBA has evolved our offerings to map to the changing needs of our membership – partnering with leading business intelligence firm TetraTrak/Front Runner to host Professional Education Seminars for producers, processors and retailers, and hosting business boot camps with NWMJ Law that provide members with access to leading attorneys, CPAs and other business experts.

[youtube http://www.youtube.com/watch?v=h8rOgEvxQ2Y&w=560&h=315]

Two years ago, we launched the MJBA Women’s Alliance to provide a forum for cannabis businesswomen to build their personal and professional lives.  More than 100 women-owned or operated cannabis businesses have joined in the MJBA Women’s Alliance, participating in our many a Seminars, VIP Speaker Luncheons and Charitable Events. This Spring we decided that the Women’s Alliance had achieved enough scale and momentum to sustain it, and so we have spun it off as a separate new entity: The Cannabis Women’s Alliance — a social purpose corporation with Morgan acting as CEO and Roxanne Taylor as COO.

Team MJBA

MJBA Women’s Alliance

It does my heart proud to see this project take flight on its own. As a parent of a recent High School graduate, I feel the same familiar mix of pride at achieving the significant milestone, and sadness that this precious first chapter of our organizational is ending.

With California, Nevada, Arizona and a dozen or so more States voting for marijuana legalization in November, 2016 represents an inflection point for the legal cannabis industry. Our grand experiment has met with enthusiastic response from eager consumers, and a begrudging realization among politicians that end of prohibition is inevitable so they might as well have a part in crafting what comes next.  I remain excited about what comes next for the industry and the MJBA.

Stay tuned to this space…

The Growth of Marijuana Business Media

OHIO:  The first trade magazine I launched, Paraphernalia & Accessories Digest, served the headshop industry. I had cofounded High Times four years earlier, by then a resoundingly successful consumer magazine. The market the Digest covered included record stores and boutiques which sold lifestyle items like incense, blacklight posters, and underground comix in addition to their primary lines of goods. The main focus of my magazine for those retailers, and others more exclusively positioned as headshops, were rolling papers, pipes and other accoutrements which were used by people to consume recreational drugs, primarily marijuana.

The year was 1978 — the same year towns and counties across America began writing laws with the goal of putting my readers out of business. (I launched my first paid newsletter in ’79, a biweekly breaking news of whether you were going to get arrested soon. Sold hundreds at $299 a year.) All the laws had glaring first amendment problems. You see, cigarette papers and tobacco pipes had been legal for hundreds of years. Still were. So what was being outlawed was intent, not the items per se.

Over the following two years in states across the country, advertising in my magazine became proof you were breaking the law. Buy an ad, get a subpoena! Not great for sales. As publisher of the industry trade mag, I was called to testify in front of a Congressional committee.

What a difference 37 years makes. Marijuana is now legal for medical and/or recreational use in some way or another in 24 states and the District of Columbia. In Kentucky and elsewhere they are starting to legally grow hemp. There are now at least two serious trade publications for the emerging legal cannabis industry.

Colorado Marijuana Revenues Hit A New High

COLORADO:  New figures from the Colorado Department of Revenue show that recreational marijuana sales continued to climb in August, the most recent month for which data are available. Recreational sales totaled approximately $34.1 million in August, up from $29.3 million the previous month.

Medical marijuana also jumped sharply in August, after several months of flat or declining sales. Medical sales figures were just under the recreational total, at $33.4 million. One goal of creating Colorado’s recreational marijuana market is to shift customers away from the medical market.

The numbers suggest that work remains to be done on that front. Part of the challenge is that medical marijuana is taxed at lower rates than recreational marijuana, leading to significant price differences.

The First Of Day Legal Retail Weed In Washington

By TwiceBakedinWA

I was there for the opening of the first retail marijuana store in Seattle on Tuesday. Cannabis City, a little store in SoDo that sits beside a Subway and is now a major focal point of the city since it is the only place one can legally buy cannabis in the city. I wanted to go there to experience what it might be like to be a recreational user.
I was curious to see who would show up to such an event and if it would be the major lines and masses of people like they had in Colorado. It was not like Colorado, apparently, because there were way less people, like hundreds, not thousands. The event, while exciting, felt well planned, safe, and pretty chill. The crowd was super mellow, no surprise there. When I got there I kind of just stood across the street for a few minutes to observe from afar before jumping into the scene.
There was press everywhere and camera lovers from politicians to business promoters and activists who took advantage of the event for publicity. [youtube http://www.youtube.com/watch?v=qZXXMFg88bo?version=3&rel=1&fs=1&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparent]
I made a little video while there and circulated with the people that were in line. I was surprised how many people were from out of town and how many locals were casually showing up who never thought they would be able to get a decent spot without waiting all day.  While standing near the back alley a truck drove by and a guy leaned out the passenger side window offering a quarter ounce of marijuana for $60. Everybody in line ignored him and smiled at each other as they drove off.
While these people were standing in line for hours in the blazing noon sun to get a couple of grams of marijuana, I had consumed a solid dose of cannabis coconut oil on my breakfast. As I stood among these regular “recreational users” I remembered what it was like to walk into a medical marijuana dispensary and figure out what to order for the first time.
Very exciting and overwhelming. Their experience, however, was limited to a couple of grams of prepackaged dry flower and a four strains to pick from. Still, very exciting. My experience in a medical cannabis collective is very different. There are multiple flower strains, CBD strains, concentrates, edibles, the variety almost feels endless when it comes to the choices I have as a patient in Washington right now. I am thankful for every single one of those choices as somebody who uses cannabis daily for pain management and neurological health. I am also thankful to live in a place where my ‘non-medical’ friends now have safe, legal access to cannabis too.