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Vapor Group, Inc., Enters Market Forbes Estimates At $2.1 To $3 Billion By 2020
Vapor Group, Inc., Enters Market Forbes Estimates At $2.1 To $3 Billion By 2020.
About this update from Vapor Group Inc
[{"type":"text","content":"\n\n\n\nVapor Group, Inc., Enters Market Forbes Estimates At $2.1 To $3 Billion By 2020\n\n\n\n\n\nVapor Group, Inc., Enters Market Forbes Estimates At $2.1 To $3 Billion By 2020\nVPOR Creates Subsidiary To Focus On Cannabidiol (CBD) Based Products\nPR Newswire\nMIAMI, Florida, November 16, 2017\n\n\n\nMIAMI, Florida, November 16, 2017 /PRNewswire/ --\n\nVapor Group, Inc. (OTC Pink: VPOR), (\"Company\"), today announced that the Company has formed a new wholly-owned subsidiary, Royal CBD, Inc., to take advantage of the explosively growing CBD oil products market.\n\nThe Company, in an August 22, 2017 Letter to Shareholders, had previously announced its intention to enter one of the fastest growing markets in the nation… the hemp-derived Cannabidiol market.\n\n\"The CBD or Cannabidiol market could grow by700% by 2020 as more people turn to these products for health improvements\", stated FORBES. https://www.facebook.com/forbes/posts/10154841517757509\n\nMoreover, FORBES said that the CBD market could grow to $2.1 to $3 Billion by 2020. The article went on to describe CBD based products as: \"Cannabidiol (CBD) is the part of the cannabis plant that doesn't get you \"high\" like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes.\"[i] https://www.forbes.com/sites/debraborchardt/2016/12/12/the-cannabis-market-that-could-grow-700-by-2020/#66305684be1e\n\nThe Hemp Business Journal estimated that the 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. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries - bringing a total CBD market to $202 million last year.\n\nYaniv Nahon President of the Company, said, \"Hemp-derived cannabidiol (CBD) doesn't get you \"high\",. It is typically used for health reasons instead of for recreational purposes and also has the benefit of providing a relaxing effect.  We want to be on the front of the wave in the rapidly growing CBD market arena and we believe that's just what this market entry does for the Company and our shareholders.\"\n\nMr. Nahon continued: \"Royal CBD, Inc., our w...