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The North American cannabis market continues to accelerate as Canada rockets towards the October 17 deadline for the nationwide legalization of recreational marijuana.
- Hydroponic market trying to keep up with booming cannabis market set to exceed $25 billion by 2021.
- Continued expansion of cannabis cultivation and demand for controllable production parameters are a boon to hydroponics industry.
- Healthcare sector increasing demand for CBD from sources such as industrial hemp.
- Regulatory reform throughout North America and Europe driving change in overall space.
The milestone legislation appears set to open the door wider for companies pursuing a position in the promising sector, including those consolidating vectors within the still highly fragmented hydroponics supply sector. The global hydroponic market alone was worth nearly $3.5 billion last year and is set to break $10 billion by 2023, maintaining a healthy 18.2 percent CAGR. Recently projected revenue growth to more than $30 million next year illustrates the lofty aspirations of hydroponics supplier Sugarmade, Inc. (OTC: SGMD) (SGMD Profile), a company that recently reported a sequential revenue increase of some 215 percent and a year-over-year revenue increase of approximately 228 percent for revenues of just under $3 million in the most recent quarter. Scotts Miracle-Gro Company (NYSE: SMG) is another one to watch in this space, with an already well-established presence and the recent announcement that the company will acquire general hydroponics equipment supplier Sunlight Supply, Inc., for $450 million. An acquisition may also benefit Aurora Cannabis, Inc. (OTC: ACBFF), which recently announced its procurement of MedReleaf. The huge announcement of an additional $4 billion investment in researcher, cultivator and seller of extracts/flowers Tilray, Inc. (NASDAQ: TLRY), by beer giant Constellation Brands, Inc., has been unmistakable “handwriting on the wall” to many investors that the cannabis industry is here to stay. And Canopy Growth Corporation (NYSE: CGC) has also been bitten by the sector consolidation bug, as evidenced by the company’s recent snapping up of premium cannabis lifestyle brand Hiku Brands Company Ltd.
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About Sugarmade, Inc.
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include ZenHydro.com, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more information on the company’s products, please visit www.Sugarmade.com.
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