PALM BEACH, Florida, November 30, 2017 /PRNewswire/ —
Without the influence of CBD Oil and Cannabis infusion, according to Markets and Markets , the nutraceutical ingredients market alone is projected to grow at a CAGR of 7.5% from 2016 to 2022 to reach USD 445.58 Billion by 2022. Cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales have already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark. Combining the two together, the infusion of nutraceuticals into the CBD – Cannabinoid space is providing new opportunities for enhanced revenues and global distribution. Active companies this week in the cannabis industry include: CNRP Mining Inc. (OTC: CRPGF) (CSE: CND), Liberty Leaf Holdings Ltd. (CSE: LIB.CN) (OTC: LIBFF), Future Farm Technologies Inc. (CSE: FFT.CN) (OTC: FFRMF), Tetra-Biopharma Inc. (TSX-V: TBP.V) (OTC: TBPMF), OrganiGram Holdings Inc. (TSX-V: OGI.V) (OTC: OGRMF)
CNRP Mining Inc. (OTCQB: CRPGF) (CSE: CND.CN) is pleased to announce that X-SPRAYS has signed an exclusive distribution agreement with a national distributor of consumer packaged goods in Europe (the “Distributor”). Under the terms of the agreement the Distributor will supply X-SPRAYS products to the following countries: Germany, Austria and Switzerland. Read this and more news for CRPGF and its X-Sprays products at http://www.marketnewsupdates.com/news/crpgf.html.
The Distributor has a 10-year history and multiple existing retail channels, including pharmacies, drug stores and a robust online presence. X-SPRAYS products will be supplied leveraging the Distributor’s extensive network and this partnership provides X-SPRAYS with unique access to the European market. The Company will begin shipping products to the Distributor in early Q1-2018, pending necessary approvals. With a population exceeding 82 million people and federal insurance coverage for cannabis, Germany represents the world’s largest legal cannabis market.
“We are excited to have partnered with an established and recognized leader in the European consumer packaged goods marketplace. This agreement allows us to utilize an existing network with wide reach to immediately create a presence in the world’s largest federally legislated medicinal cannabis market,” said Mr. John Knapp, CEO of X-SPRAYS.
In other industry development and happens around the market:
Liberty Leaf Holdings Ltd. (CSE: LIB.CN) (OTCQB: LIBFF) (CNQ: LIB) this week, the company announced the appointment of Mr. Doug Macdonell to its Board of Directors. Mr.